Occidental is committed to advancing the vision for a lower carbon world. We’re focused on reducing our total carbon impact by decreasing operational emissions, increasing energy efficiency, and capturing and retiring more carbon than our products create—and providing solutions to others looking to do the same.
Our 40 years of experience with large-scale carbon capture, transportation and storage as part of enhanced oil recovery operations make us uniquely capable of realizing our vision through a broad carbon management plan. In our operations, we store approximately 20 million tons of CO2 per year, the equivalent of retiring the emissions of over 4 million cars. We’re expanding our ability to capture human-made carbon dioxide emissions through partnerships and technology advancements, giving us the opportunity to retire much more.
In 2018, Occidental formed Oxy Low Carbon Ventures to sustainably enhance our business, while providing impactful global emissions reduction solutions. Oxy Low Carbon Ventures focuses on developing carbon capture, utilization and storage technologies to remove human-made carbon dioxide from the atmosphere for use in lower carbon oil production operations and to help create other less carbon-intensive products, like fuels, chemicals and concrete.
With a long legacy in carbon management, we offer powerful, practical initiatives that other industries can use to decarbonize —including carbon-neutral oil and fuels, CO2 sequestration, and carbon management advisory services.
Occidental has been implementing hands-on carbon utilization and storage as part of everyday operations in the Permian Basin for more than 40 years. We’re one of the world’s leading authorities on capturing, separating and safely injecting CO₂ back into geologic formations for permanent storage. This hands-on experience goes a long way in advancing CCUS projects in order to reduce global CO2 emissions.
We’re dedicated to working with organizations of all types worldwide to help address the complex challenges of the energy transition.