Occidental Petroleum Is Getting Up to $650 Million to Accelerate Its Ability to Capture This Potentially $5 Trillion Market Opportunity
OXY(OXY) The Motley Fool·2024-09-16 20:42Occidental Petroleum aims to build out a leading carbon capture and sequestration business.Occidental Petroleum (OXY 0.12%) has long been a leader in using carbon dioxide in its oil business. It injects the greenhouse gas into underground oil reservoirs in the Permian Basin to boost the production of those legacy fields through a technique known as enhanced oil recovery (EOR). The oil company is now leveraging that expertise to become an early leader in carbon capture and sequestration (CCS). The oil compan ...