OXY(US:OXY) 智通财经网·2025-09-18 23:25Core Insights - Occidental Petroleum's carbon capture business leader indicates that direct air capture (DAC) projects need to move beyond traditional financing models to scale effectively, as current DAC methods lack "bankability" [1][4] - The company is heavily investing in DAC technology, with its subsidiary 1PointFive set to complete a facility in Texas by the end of the year, aiming to capture 500,000 tons of CO₂ annually, making it the largest DAC facility globally [2][3] Group 1: Direct Air Capture Technology - Direct air capture (DAC) is a technology that extracts CO₂ directly from the atmosphere using chemical or physical absorbents, differing from capture methods at emission sources [3] - Occidental Petroleum's 1PointFive is constructing the STRATOS facility in Texas, which has received EPA injection permits and aims to capture 500,000 tons of CO₂ per year [3] - The company's DAC technology primarily stems from its acquisition of Carbon Engineering for $1.1 billion in 2023, utilizing a liquid solvent (KOH) absorption method [3] Group 2: Market Dynamics and Challenges - The current market for carbon capture relies heavily on voluntary carbon removal contracts and government incentives, with banks still waiting for "bankable cash flows" to develop [4] - Cottone suggests that a more realistic model for expanding the carbon capture and storage market involves having a single entity manage the entire carbon asset chain, from capture to storage [2] - Transitioning from voluntary carbon markets to a regulated global market could also facilitate growth in the sector [2]