Occidental Petroleum Corp., which has drawn the support of Warren Buffett to reduce carbon emissions from natural gas and oil operations, agreed to go all in on direct air capture (DAC) technology through a $1.1 billion deal to buy out technology pioneer Carbon Engineering Inc.

Houston-based Oxy, as it is better known, said subsidiary 1PointFive would acquire all of the outstanding equity of the Calgary-based business. The companies have worked to advance a DAC project in the Permian Basin for about five years.

Oxy CEO Vicki Hollub sees a lot more opportunities ahead.

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