Occidental and ADNOC to explore direct air capture as 1PointFive sells its first carbon credits

Occidental Petroleum and Abu Dhabi National Oil Company (ADNOC) are partnering to evaluate investment opportunities in direct air capture (DAC) of carbon dioxide. The firms will explore investment in projects developed by the Oxy subsidiary 1PointFive, including a possible DAC plant in the United Arab Emirates capable of pulling 1 million metric tons (t) per year of CO₂ from the ambient air. The firms will also consider converting captured CO₂ into chemicals, plastics, and fuels. Separately, All Nippon Airways has agreed to purchase 10,000 t worth of CO₂ removal from the DAC plant that 1PointFive is building in Texas.