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illuminem summarises for you the essential news of the day. Read the full piece on Oil Price or enjoy below:
🗞️ Driving the news: Occidental Petroleum (See sustainability performance) and its subsidiary 1PointFive have received the first-ever U.S. Environmental Protection Agency (EPA) Class VI permits for a Direct Air Capture (DAC) facility
• The permits, granted for the STRATOS project in Ector County, Texas, authorize the underground storage of up to 500,000 tonnes of CO₂ annually, making it the world’s largest DAC project to receive federal approval for geologic sequestration
🔭 The context: Direct Air Capture is an emerging carbon removal technology that extracts CO₂ directly from the atmosphere, aiming to complement emissions reductions in hard-to-abate sectors
• The STRATOS facility is being developed under Occidental’s broader carbon management strategy and is supported by 1PointFive using Carbon Engineering’s DAC technology
• The project aligns with U.S. policy momentum under the Inflation Reduction Act, which provides tax incentives for carbon removal and storage
🌍 Why it matters for the planet: DAC is increasingly viewed as a necessary tool for achieving net-zero goals, especially for residual emissions
• The STRATOS project demonstrates regulatory and commercial readiness for large-scale carbon removal in the U.S.
• However, challenges remain around cost, energy use, and long-term effectiveness
• If successfully deployed, the facility could serve as a scalable model for global carbon management and climate mitigation
⏭️ What's next: The STRATOS plant is set to become operational later in 2025 and is expected to catalyse a network of DAC hubs
• Occidental aims to expand this model, attracting corporate clients seeking carbon offsets and low-carbon fuels
• Regulatory precedent from the EPA may accelerate permitting for similar projects nationwide, particularly as investors and policymakers assess the role of engineered carbon removal in climate strategies
💬 One quote: “This is a significant milestone… as we continue to develop vital infrastructure that will help the United States achieve energy security.” – Vicki Hollub, CEO, Occidental
📈 One stat: The STRATOS DAC facility is permitted to store up to 500,000 tonnes of CO₂ annually—equivalent to the yearly emissions of roughly 110,000 U.S. cars
See here detailed sustainability performance of companies like Occidental Petroleum
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