Occidental Expands CO2 Sequestration Projects in US

Louisiana's Department of Energy and Natural Resources issued its first draft CO2 injection permit for the Hackberry Carbon Sequestration project, marking a significant step towards carbon storage in the state. The U.S. Environmental Protection Agency also granted a Class VI permit to Occidental Petroleum's Oxy Low Carbon Ventures in Texas for CO2 sequestration at the STRATOS Direct Air Capture Facility. Additionally, Occidental has initiated a 25-year agreement to store approximately 2.3 million metric tons of CO2 annually at its Pelican Sequestration Hub in Louisiana. These initiatives underscore the growing interest in carbon capture technology and highlight the potential of carbon sequestration in reducing industrial emissions while providing jobs and protecting water sources. The projects reflect a broader trend as companies like Chevron, Exxon Mobil, and TotalEnergies adopt carbon capture to address climate change. Occidental's efforts in Texas and Louisiana demonstrate its commitment to leveraging its expertise in carbon management to enhance energy security and economic growth.