Occidental

Several carbon capture and storage (CCS) projects are in the works across North America, and researchers may have found a novel way to make them more energy efficient. Researchers from Massachusetts Institute of Technology (MIT) recently highlighted how a hidden function of electrodes can attract carbon dioxide (CO2) emissions, which then could be converted, allowing…

Occidental Corp. and subsidiary 1PointFive on Thursday officially launched construction of its first large-scale direct air capture (DAC) plant, which could be sucking up carbon emissions from the Permian Basin in West Texas by late 2024. Houston-based Oxy, as it is known, had begun the first phase of front-end engineering design (FEED) at a site…

Houston-based Occidental Petroleum Corp. has clinched its first agreement to sell up to 200,00 b/d of net-zero emissions oil over five years to South Korea’s SK Trading International, an indication the direct air capture (DAC) project in West Texas may proceed. Oxy, as it is better known, has begun preliminary work on its massive DAC…

Occidental Petroleum Corp. will need to spend more capital in 2022 to maintain oil production at 2021 levels, CEO Vicki Hollub said. Hollub discussed the plans of Occidental, better known as Oxy, during a conference call to discuss fourth-quarter results. Houston-based Oxy is one of the largest U.S. oil producers, with a leading footprint in…

Occidental Petroleum Inc. CEO Vicki Hollub said Tuesday the Biden administration’s attempt to corral federal oil and gas development could constrict jobs growth while dampening supply as the world transitions from fossil fuels.   Hollub shared a microphone with her management team to discuss first quarter results for Oxy, as it is better known. The administration…

A unit of Occidental Petroleum Corp. (Oxy) is partnering in a pilot project that could produce 1 metric tons/month of ethylene using human-made carbon dioxide (CO2) instead of hydrocarbon feedstocks like natural gas and oil. Houston-based Cemvita Factory, a bio-engineering start-up, is working with Oxy Low Carbon Ventures (OLCV) on the bio-ethylene pilot facility, which…

U.S. liquefied natural gas (LNG) player NextDecade Corp. is one step closer to sanctioning a carbon capture and sequestration (CCS) project associated with its planned LNG facility in South Texas after signing an initial agreement with Houston-based independent Occidental Petroleum Corp. (Oxy). Houston-based NextDecade said Thursday it had inked a term sheet with Oxy Low…

Houston-based Occidental Petroleum Corp. is aiming for net-zero carbon emissions, but rather than investing in renewables, it plans to capture and then reuse the carbon from its global oil developments, CEO Vicki Hollub said Tuesday. During a third quarter conference call, Hollub and the executive team offered details about the sweeping strategy to boost oil…

Stung by the untimely and expensive takeover of Anadarko Petroleum Corp. in 2019, debt-laden Occidental Petroleum Corp. (Oxy) is working to right itself after taking a battering in the first three months, joining other Permian Basin-heavy operators in reducing activity in reaction to plummeting demand.