Occidental Petroleum

Phase 1 involved a feasibility study for a facility capable of capturing 750,000 tonnes of carbon dioxide annually. The next phase will explore building a facility capable of more than twice that amount.

Oxy Low Carbon Ventures and Rusheen Capital Management have formed a development company to finance the world’s largest carbon-dioxide-capturing facility using Carbon Engineering’s direct air capture technology.

Lingering low oil prices are forcing Occidental to mark down the value of its oil and gas assets again, making the burden of its staggering debt look even greater.

Houston-based Occidental had earmarked the money to ease debt from buying Anadarko.

BP says it is firmly committed to achieving the ambitious target of net-zero greenhouse gas emissions over the next 30 years—even if that means producing less oil and gas.

Layoffs have begun at Occidental Petroleum, which needs to slack costs after buying Anadarko, as well as Apache.

A new joint study will test the economic viability of taking CO2 from a cement plant and giving it to an oil company to pump underground.

Occidental Petroleum has closed on deals totaling $1.7 billion as part of its divestment program following its $38-billion takeover of Anadarko Petroleum.

As Oxy looks to divest billions in assets and focus more on its prime US shale fields, it sheds itself of the ISND and ISSD fields off the eastern coast of Doha. In announcing the lease loss last year, Oxy said the fields need significant infrastructural investment.

The 16-MW solar facility in Ector County, Texas, near Odessa, powers the Goldsmith field through deployment of 174,000 photovoltaic panels.