Occidental utilizes direct air capture technology to support negative emissions while sticking to its core competencies

March 04, 2021 | Case Study

Occidental is an oil and gas producer based in Houston, Texas, with operations in the U.S., Oman, the United Arab Emirates, Qatar, and Colombia. The company produced 961 MBOE of oil and gas globally and consumed more than 247 million gigajoules (GJ) of energy in its global operations in 2019, resulting in total Scope 1 and Scope 2 emissions of 28.3 million metric tons (MT) of CO₂. The company also sequestered 7 million MT through its CO₂ EOR operations, but it is unclear how much CO₂ came from natural versus anthropogenic sources. In November 2020, Occidental announced its commitment to achieving net-zero emissions by 2050 as part of its decarbonization strategy. The company will aim to achieve net-zero Scope 1 and 2 emissions by 2035 and net-zero Scope 1, 2, and 3 emissions by 2050. Occidental has also committed to eliminating routine gas flaring by 2030 and plans to set midterm targets for reducing its upstream greenhouse gas and methane emission intensities and for reducing the carbon emissions intensity of its chemical products by 2025.