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Occidental Petroleum (NYSE:OXY) launched development of its first direct-air carbon seize hub in west Texas at a groundbreaking ceremony Friday, the Houston Chronicle reported.
The newly-named Stratos plant, a part of Occidental’s (OXY) ambition to develop 100 direct-air seize services worldwide by 2035, is scheduled to launch in 2025 with an preliminary capability to seize 500K tons/12 months of carbon dioxide, and will scale as much as seize 1M tons/12 months of CO2.
Stratos is the primary of 5 carbon seize hubs Occidental (OXY) is planning in industrial areas of Texas and Louisiana, together with plans unveiled final month to seize and retailer as a lot as 1.2B tons of CO2 at a 55K-acre website on the Texas Gulf Coast.
Occidental (OXY) says it’s already the world’s largest handler of carbon dioxide, storing as a lot as 20M tons/12 months underground and advertising and marketing giant quantities of potassium hydroxide, a chemical key to the corporate’s direct-air seize tasks in Texas.
“Amongst huge oil corporations, Oxy has taken one of many extra aggressive approaches to the power transition, heading down a path that may reposition it as a carbon administration firm even because it continues to provide oil,” the Houston Chronicle‘s Amanda Drane wrote.
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