Occidental, ADNOC's XRG Eye $500 Million Texas Carbon Capture Venture - Occidental Petroleum (NYSE:OXY)

Occidental Petroleum (NYSE:OXY) Shares Down 2.7% - Time to Sell?

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Occidental, UAE's ADNOC to explore JV to develop South Texas direct air capture hub

Occidental and ADNOC’s XRG Agree to Evaluate Joint Venture to Develop South Texas Direct Air ...

HOUSTON, May 16, 2025 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) and its subsidiary 1PointFive today announced an agreement with XRG, ADNOC’s investment company, to evaluate a potential joint venture to develop a Direct Air Capture (DAC) facility in South Texas.…

Occidental, ADNOC's XRG Eye $500 Million Texas Carbon Capture Venture - Occidental Petroleum (NYSE:OXY)

Occidental Petroleum Corporation (NYSE:OXY) shares are trading lower on Friday after the company announced that it has signed a framework agreement with XRG, the investment arm of ADNOC, to explore a potential joint venture aimed at building a Direct Air Capture facility in South Texas. Under the agreement, XRG may invest as much as $500 million in a plant designed to extract 500,000 metric tons of carbon dioxide from the atmosphere annually. Th…

US, UAE oil firms explore joint venture to develop DAC facility in Texas « Carbon Pulse

A US oil and gas company is exploring a partnership with a state-owned UAE oil company to develop a direct air capture (DAC) hub in South Texas, the companies announced Friday during President Donald Trump’s visit to the UAE.

Oxy, ADNOC Evaluating JV to Develop Texas Direct Air Capture Hub

Occidental Petroleum is exploring a joint venture in which ADNOC’s XRG would invest up to $500 million for the development of a direct air capture facility in South Texas.