OXY is also positioning itself as a leader in carbon capture, with its flagship Stratos project—a large-scale Direct Air Capture (DAC) facility in Texas—set to begin initial operations in Q3 ...

Oxy for years has pumped CO2 out of the ground from naturally occurring reservoirs in Colorado and New Mexico, then sent it by pipeline to the Permian, where they then pressurize and inject the ...

By the end of August between additional Oxy maturities and the early redemption of CrownRock’s notes we will have repaid an additional $1.9 billion of debt, bringing the total to $2.3 billion.” ...

Artist rendering of Occidental Petroleum Co.’s direct air capture STRATOS facility in Ector County. (Courtesy Photo) The Occidental Petroleum Co.’s $1-billion direct air capture plant 35 miles ...

Occidental Petroleum’s cash flow improvements are expected as spending falls for projects, such as 1PointFive’s Stratos direct air capture, which will augment its ongoing oil and gas ...

Aug. 12—The Occidental Petroleum Corp.'s $12-billion acquisition of the Midland-based CrownRock Corp. was a major factor in Oxy's second quarter performance, which featured its highest ...

Occidental Petroleum (NYSE:OXY) recently declared a regular quarterly dividend of $0.24 per share, reaffirming its commitment to shareholder returns. Despite the company's flat 1% weekly return ...

Employees head in for a lunch break while working on Stratos, a carbon capture facility operated by Oxy, on Thursday, Oct. 3, 2024, in Ector County. Elizabeth Conley/Staff Photographer ...

A first of its kind facility is taking shape in West Texas, as Houston-based Occidental Petroleum puts the finishing touches ...

A drone view of the Stratos Direct Air Capture Facility, a joint venture between Occidental Petroleum, or Oxy, and asset manager BlackRock, is seen in Ector County in 2024.

In 2023, Occidental acquired Carbon Engineering for $1.1 billion, locking in DAC technology ownership to fast-track revenue potential, while STRATOS's costs grew to $1.3 billion.