Occidental Petroleum Continues Working Toward Capturing This Potential $5 Trillion Future Market Opportunity

Occidental Petroleum and its subsidiary 1PointFive signed an agreement with XRG, the investment company of Abu Dhabi's ADNOC, to evaluate a joint venture to develop a DAC facility in South Texas. As part of the deal, XRG will consider investing up to $500 million into a facility that could capture 500,000 tonnes of carbon dioxide per year. The oil company noted that the announcement follows several significant milestones in developing DAC technology. That includes progress on constructing its first DAC faci ...