Oil & Gas | CO2 Capture & Storage | Investments
Occidental Petroleum Corp's subsidiary, 1PointFive, and Blackrock Inc have established a joint venture to develop Stratos, a Direct Air Capture (DAC) facility in Ector County, Texas. Blackrock will invest $550 million into Stratos, which aims to become the world's largest DAC facility by capturing up to 500,000 metric tons of carbon dioxide annually. The construction is already 30% complete with the facility expected to be operational by mid-2025.
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