Occidental Expects to Achieve Net-Zero Emissions By 2050 - Hollub

Reuters2022-09-21

Occidental Petroleum is going through a transformation to a carbon management company from an oil and gas company, Chief Executive Vicki Hollub said on Wednesday, adding that the company expects to achieve net-zero carbon emissions by 2050.

Hollub added that carbon capture, utilization and storage (CCUS) is a large gap in the climate transition that Occidental can help fill. Further, the Inflation Reduction Act (IRA) will help accelerate Occidental's direct air capture technology, she said at IETA's North America Climate Summit.

The $430 billion IRA, seen as the biggest climate change package in U.S. history, was signed into law last month. The bill was designed to cut domestic greenhouse gas emissions as well as lower prescription drug prices and high inflation.

Hollub said addressing climate change is the greatest problem the world is facing today, and there has to be a better way to manage efforts to fight it.

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Comments

Tanyl
2022-09-22
Tanyl
Oxy will up and up
runningjames
2022-09-22
runningjames
Great!
Bull1973
2022-09-21
Bull1973
Ok
- Jinroro:
  Ok
DZL
2022-09-21
DZL
OXY, transformation to a carbon management company from an oil and gas company
- DZL:
  towards net-zero emission
MacXzero
2022-09-21
MacXzero
Nice

Leave a comment

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