Occidental and ADNOC’s $500M Texas DAC Deal Marks a Global Milestone in Carbon Removal

Occidental and ADNOC’s $500M Texas DAC Deal Marks a Global Milestone in Carbon Removal

Occidental (Oxy) and its carbon-focused subsidiary 1PointFive have partnered with XRG, ADNOC’s energy investment company, to build a large Direct Air Capture (DAC) facility in South Texas. XRG is considering an investment of up to $500 million to support the project. The proposed plant would pull 500,000 tonnes of CO₂ from the air every year. Occidental and 1PointFive: Driving Low-Carbon Energy Solutions The global energy leader has major operat…

ADNOC, EGA sign $500 million deal to localise supply of key raw material in aluminum production

Abu Dhabi : ADNOC and Emirates Global Aluminium (EGA) have entered a five-year supply agreement for up to 1.5 million tonnes of calcined petroleum coke (petcoke), a vital raw material in aluminium production. Valued at $500 million (AED1.84 billion), the agreement was signed during the “Make it in the Emirates” event in Abu Dhabi. It reflects ADNOC’s support for the UAE’s industrial growth and commitment to strengthening local supply chains. Und…