Key Impact Points:
- Occidental’s 1PointFive obtains crucial EPA permits for carbon sequestration at its Texas direct air capture (DAC) facility.
- Stratos facility, a joint venture with BlackRock, set to become one of the largest DAC operations globally.
- Project will annually capture up to 500,000 metric tons of CO2, supporting U.S. climate goals and energy security.
EPA Greenlights Major DAC Project
Occidental Petroleum’s subsidiary, 1PointFive, has received approval from the U.S. Environmental Protection Agency (EPA) to store carbon dioxide captured from its new direct air capture (DAC) facility, Stratos, in Texas.
The permits, issued under the Safe Drinking Water Act’s Underground Injection Control program, mark a significant regulatory milestone, paving the way for Stratos to begin commercial operations later this year.
A Strategic Partnership for Climate Action
Stratos, located in Ector County, Texas, is a collaboration between Occidental’s carbon capture and sequestration unit and asset management giant BlackRock. When fully operational, the facility aims to capture and store approximately 500,000 metric tons of carbon dioxide annually, positioning itself among the world’s largest DAC facilities.
“This is a significant milestone for the company as we are continuing to develop vital infrastructure that will help the United States achieve energy security,” said Occidental CEO Vicki Hollub.
Energy Industry’s Emissions Strategy
Carbon capture technology, crucial for storing CO2 from industrial processes underground, is increasingly becoming a preferred emissions reduction strategy among major oil firms, including Chevron, Exxon Mobil, and TotalEnergies.
Last year, 1PointFive secured deals to provide carbon credits from Stratos to major corporations like AT&T and Microsoft, highlighting corporate America’s growing demand for credible emissions offsets.
Related Article: Microsoft Secures Largest-Ever Direct Air Capture Carbon Removal Deal With Oxy’s 1PointFive
