Category: Markets
Published: 2026-06-22T17:02:53.000Z
Occidental Petroleum is developing a Direct Air Capture (DAC) fleet, under its 1PointFive platform, with the STRATOS plant in Texas aiming to remove up to 1 million tons of CO2 per year. This initiative is central to Occidental's strategy to expand into a low-carbon business, transforming it into a "carbon management" company. The project utilizes modular units with large fans and chemical sorbents to capture CO2, which will then be stored in geological formations or used in synthetic fuels and building materials.
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