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Occidental to announce Q3 2023 financial results
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3.33%
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Occidental's subsidiary 1PointFive and ADNOC are conducting a feasibility study for a 1 million tonne-per-year DAC facility in the UAE. This is the first project announced since their MOU in August. The study will assess the feasibility of building the first megaton-scale DAC facility outside the US. 1PointFive has previously announced CDR credit agreements with Amazon and All Nippon Airways. If approved, CO2 extracted at the DAC facility will be connected to ADNOC's CO2 infrastructure for storage. The MOU also includes evaluating participation in DAC facilities and CO2 sequestration hubs in the US, developing UAE-located CO2 sequestration hubs, and incorporating CO2-based technologies into the UAE.
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0.26%
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1PointFive announces agreement with Amazon to purchase 250,000 metric tons of carbon dioxide removal credits over 10 years
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4.06%
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Occidental announces acquisition of Carbon Engineering Ltd. for $1.1 billion in cash. The transaction is expected to close before the end of 2023, subject to regulatory approvals. The acquisition aligns with Occidental's net-zero strategy and enables the rapid advancement and deployment of DAC technology. Carbon Engineering will become a wholly owned subsidiary of Oxy Low Carbon Ventures.
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-1.57%
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1PointFive, a subsidiary of Occidental, has been selected to receive a grant from the U.S. Department of Energy's Office of Clean Energy Demonstrations for the development of its South Texas Direct Air Capture (DAC) Hub. The hub will be located on the King Ranch and will have the world's first DAC plant capable of removing up to 1 million metric tons of CO2 per year. The grant will support the development of the DAC Hub through planning, design, permitting, and equipment procurement.
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3.31%
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1.2%
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ANA - ANA becomes the first airline to sign a purchase agreement with 1PointFive for carbon dioxide removal (CDR) credits enabled by Direct Air Capture, aiming to achieve carbon neutrality by 2050. 1PointFive is constructing a DAC plant in Texas, expected to be operational in mid-2025. ANA agreed to purchase 10,000 metric tonnes of CDR credits per year for three years starting in 2025, contributing to raising awareness of DAC as a solution in the aviation industry.
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-0.78%
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Occidental and ADNOC to collaborate on assessing investment opportunities in Direct Air Capture (DAC) facilities and carbon dioxide (CO2) sequestration hubs in the US and UAE. The collaboration aims to accelerate the net-zero goals of both companies and help hard-to-abate industries achieve their targets. ADNOC may evaluate participation in DAC plants and CO2 sequestration hubs under development in the US by Occidental subsidiary, 1PointFive. Feasibility studies for a 1 million tonne-per-year DAC plant in the UAE are also being considered.
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-0.78%
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Occidental, an international energy company, has selected AWS as its preferred cloud provider to drive its digital transformation. Occidental will migrate its core production applications and on-premises IT infrastructure to AWS to improve operational efficiencies and support the development of systems for carbon removal plants. Occidental will use a broad portfolio of AWS cloud services, including Amazon EC2 and Amazon EBS, to scale IT resources and gain insights through analytics and machine learning. AWS will also collaborate with Occidental to design systems architecture for large-scale direct air capture plants.
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0.08%
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Occidental (NYSE: OXY) has declared a regular quarterly dividend of $0.18 per share on common stock. The dividend will be payable on October 13, 2023, to stockholders of record as of September 8, 2023.
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Occidental Petroleum Corporation
NYSE:OXY
OXY Rankings
OXY Stock Data
57.08B
876.37M
28.27%
52.04%
5.56%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
United States of America
HOUSTON
About OXY
occidental petroleum corporation (nyse:oxy) is an international oil and gas exploration and production company — one of the largest in the u.s., based on market capitalization — and our oxychem subsidiary is a major north american chemical manufacturer. oxy is an industry leader in applying advanced technology to boost production and access hard-to-recover reserves. with more than 40,000 employees and contractors worldwide, we are committed to being the employer, partner and neighbor of choice. oil and natural gas operations are the core of oxy’s business. our exploration and production activities are concentrated in three geographic regions: the united states, middle east region and latin america. in each of these regions, we focus on long-lived, “legacy” oil and gas assets with long-term production growth potential. oxy is well-positioned for success in today’s dynamic and complex business environment. occidental chemical corporation (oxychem) is a leading north american manufa