Occidental inks $1.1bn deal to snap up DAC specialist Carbon Engineering

Michael Holder
clock • 3 min read
Artist impression of what Carbon Engineering's large-scale DAC plants could look like | Credit: Storegga
Image:

Artist impression of what Carbon Engineering's large-scale DAC plants could look like | Credit: Storegga

US oil producer agrees to snap up all outstanding shares in Canadian carbon removals technology developer with ambition to scaling DAC technology worldwide

Occidental Petroleum is set to become the sole owner of Canadian direct air carbon capture (DAC) developer Carbon Engineering as part of a major $1.1bn deal announced by the US oil and gas giant yesterday....

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on CCS

Eni and UK government finalise deal for 'world's most advanced' CCS project in Liverpool Bay
CCS

Eni and UK government finalise deal for 'world's most advanced' CCS project in Liverpool Bay

Major CCS project could store up to 10 million tonnes per year of CO2 in the 2030s, according to Eni and the government

clock 24 April 2025 • 5 min read
Heidelberg Materials given green light for carbon capture system at Wales cement factory
CCS

Heidelberg Materials given green light for carbon capture system at Wales cement factory

Once operational in 2029 the project is expected to capture 'almost all' of the CO2 emitted from the firm's existing Padeswood cement manufacturing site

clock 09 April 2025 • 2 min read
Equinor, Shell, and TotalEnergies to expand CO2 storage site with $714m investment
CCS

Equinor, Shell, and TotalEnergies to expand CO2 storage site with $714m investment

Northern Lights joint venture expected to begin injecting captured industrial CO2 under the seabed off the west coast of Norway from this summer

Michael Holder
clock 28 March 2025 • 3 min read