By Mathew Carr
Dec. 3, 2020 — LONDON: CEO Vicki Hollub at Occidental Petroleum is simultaneously ending the period of “big oil” and beginning the era of “big carbon.”
Oxy said Wednesday its plan to get to to net zero greenhouse gas emissions by mid century was bold. Not only would it use its plentiful carbon capture and storage assets and expertise, but it would tap currently expensive direct-air capture to help save the climate.
The Houston Chronicle said the company would open its first commercial-scale carbon storage site and a facility to remove carbon dioxide directly from the atmosphere by 2025. By 2040 it would have expanded those operations to the point where it would only use manmade co2 in its oil operations.
Hollub said Oxy would become a “carbon management company,” in an interview with the energy research firm IHS Markit.
(More to come)