The world’s largest direct air capture (DAC) facility, designed to zap up to 1 million metric tons/year of carbon dioxide (CO2) emissions from the Permian Basin, is tracking to start up by early 2024, Occidental Petroleum Corp. CEO Vicki Hollub said Wednesday.
Oxy, as it is better known, issued its second quarter results on Wednesday. The Houston-based independent posted solid results across its U.S. and international holdings, with stronger profits and improved efficiencies.
Several analysts, though, were keen to hear more about a project that has yet to break ground. Oxy in February pulled the trigger for the first phase of front-end engineering design (FEED) to build what would be the world’s largest DAC, a CO2 capture project set for West Texas.
“The FEED study...