Occidental inks $1.1bn deal to snap up DAC specialist Carbon Engineering

Michael Holder
clock • 3 min read
Artist impression of what Carbon Engineering's large-scale DAC plants could look like | Credit: Storegga
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Artist impression of what Carbon Engineering's large-scale DAC plants could look like | Credit: Storegga

US oil producer agrees to snap up all outstanding shares in Canadian carbon removals technology developer with ambition to scaling DAC technology worldwide

Occidental Petroleum is set to become the sole owner of Canadian direct air carbon capture (DAC) developer Carbon Engineering as part of a major $1.1bn deal announced by the US oil and gas giant yesterday....

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