Occidental Petroleum is considering selling a license for carbon capture and storage technology

Occidental Petroleum CEO Vicki Hollub said in a webcast on November 8 local time that the company hopes to sell carbon capture and storage technology licenses, which have the potential to support more than 1,000 projects to mitigate global warming and create new revenue streams for the company. Occidental Petroleum's first major direct air capture (DAC) plant is costing $1.3 billion and will start construction in mid-2025.