1PointFive, an Occidental Petroleum subsidiary, and the Houston Astros, announced the team has agreed to purchase carbon dioxide removal credits from 1PointFive’s Direct Air Capture, DAC, plant under construction in Ector County, Texas. This progressive agreement is a demonstration of the Astros commitment to continuous improvement of their fan experience via environmental investment. For this agreement with the Astros, CO2 captured by DAC will be sequestered in saline reservoirs not associated with oil and gas production. DAC provides a practical solution for hard-to-decarbonize activities, such as air travel, to help achieve climate goals. "We are pleased to further our relationship with the Houston Astros and provide a solution to address future carbon emissions," said Michael Avery, President and General Manager, 1PointFive. "We are excited about the opportunity that Direct Air Capture presents to help organizations reduce their carbon footprint."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on OXY:
- Buffett’s Passion for Occidental (NYSE: OXY) Stock Lives On
- Oil Trading Daily: Crude Oil Sinks after Powell Comments
- 1PointFive and the Houston Astros announce Direct Air Capture Carbon Removal Credit Agreement
- Oil Trading Daily: Oil Gains Slightly as Nat Gas Craters 14%
- Oil Trading Daily: Oil Finishes the Week in the Green