🌍 Occidental’s 1PointFive Secures CO2 Sequestration Permits for Texas Carbon Capture Project

Occidental Petroleum’s carbon capture unit, 1PointFive, has secured a major regulatory win as the U.S. Environmental Protection Agency (EPA) approved its application to sequester carbon dioxide at its Stratos direct air capture (DAC) facility in Ector County, Texas. The project, a joint venture with asset manager BlackRock, is set to become one of the largest DAC facilities globally, with a capacity to capture up to 500,000 metric tons of CO₂ annually once operational later this year. This milestone, granted under the Safe Drinking Water Act’s Underground Injection Control program, aligns with a broader industry push by oil majors like Chevron, Exxon Mobil, and TotalEnergies to adopt carbon capture strategies in the fight against climate change. Occidental CEO Vicki Hollub called it a "significant milestone" towards achieving U.S. energy security. The project has already signed carbon credit deals with companies such as AT&T and Microsoft.