Pulling carbon emissions from the atmosphere using direct air capture (DAC) is a golden opportunity for oil and natural gas operators, and is likely going to play a bigger role in Occidental Petroleum Corp.’s future, according to CEO Vicki Hollub. 

The Houston-based independent, better known as Oxy, has won substantial financial support for the move to net-zero carbon, with the DAC-related business set to advance worldwide, Hollub said during the recent third quarter conference call.

Berkshire Hathaway Inc., controlled by Warren Buffett, owns more than 25% of the company following a series of savvy investments. Meanwhile, Oxy’s 1PointFive subsidiary has landed a $550 million investment with private equity giant BlackRock Inc. 

[Want to know how global LNG demand impacts N© 2023 Natural Gas Intelligence. All rights reserved.

ISSN © 1532-1231  |  ISSN © 2577-9877  |  ISSN © 1532-1266  |  ISSN © 2158-8023  | 

Related topics: carbon capture

@CarolynLDavisME

email carolyn.davis@naturalgasintel.com