Oxy Petroleum Secures EPA Approval for World's Largest Carbon Capture Facility

Oxy Petroleum, a leading energy company, has achieved a significant milestone in carbon capture technology. The company, through its subsidiary 1PointFive, has obtained approval from the United States Environmental Protection Agency (EPA) to store carbon dioxide captured from the STRATOS Direct Air Capture (DAC) facility in Texas. This approval marks the first instance of a DAC project receiving authorization to store captured carbon dioxide, highlighting a crucial advancement in carbon capture technologies.

The permit, issued under the Safe Drinking Water Act's Underground Injection Control program, is a vital part of Oxy Petroleum's plan. The captured carbon dioxide will be securely and permanently stored in geological formations over a mile underground. This initiative not only addresses environmental concerns but also positions Oxy Petroleum as a leader in sustainable energy solutions.

The STRATOS facility is designed to capture up to 500,000 metric tons of carbon dioxide annually, making it the largest DAC facility in the world. The project, a joint venture between Oxy Petroleum's 1PointFive division and asset management firm BlackRock, is scheduled to commence commercial operations in 2025. This ambitious endeavor underscores the company's commitment to leveraging innovative technologies to mitigate carbon emissions and contribute to a greener future.

Vicki Hollub, the President and CEO of Oxy Petroleum, highlighted the importance of the VI class permit. She described it as a catalyst for unlocking the value of carbon dioxide and driving the development of direct air capture technology. This technology is poised to play a critical role in helping companies address their emission challenges and produce essential resources and fuels.

The approval from the EPA is a testament to Oxy Petroleum's dedication to environmental stewardship and technological innovation. By securing this permit, the company has taken a significant step towards achieving its sustainability goals and setting a benchmark for the industry. The successful implementation of the STRATOS facility will not only demonstrate the feasibility of large-scale carbon capture but also pave the way for future advancements in this field.