Occidental buys carbon air capture tech firm for $1.1 billion
by Sabrina Valle & Sourasis Bose, reuters.com, August 16
„U.S. oil and gas producer Occidental Petroleum (OXY.N) on Tuesday agreed to pay $1.1 billion for technology supplier Carbon Engineering Ltd to help it develop a string of carbon-capture sites it hopes will profit from tackling climate change. The U.S. oil producer aims to build about 100 plants using direct air capture (DAC) technology that strips carbon dioxide (CO2) from the atmosphere to bury underground or for use in making products such as concrete and aviation fuel.“