When Occidental announced it aspired to carbon neutrality, it pointed to CCUS projects as critical to making this vision a reality.
For decades, Occidental has injected naturally occurring carbon dioxide into its Permian Basin reservoirs to enhance oil recovery (EOR), becoming a global leader in the technology while safely and permanently storing about 20 million tonnes of carbon dioxide a year.
Occidental received approval from the US Environment Protection Agency for the first two plans for quantifying the amount of human-caused carbon dioxide permanently stored in its oil and gas reservoirs. Occidental was a key supporter of legislation expanding the 45Q tax credit, enacted in February 2018 to incentivize the capture and geologic storage of human-caused carbon dioxide.
In 2018, Occidental and White Energy announced a project to install carbon capture equipment at the two White Energy ethanol plants in Texas. The captured carbon dioxide will be transported via pipeline to the Permian, where it will be injected and permanently stored as part of Occidental’s EOR operations, qualifying the project for 45Q tax credits.
There is tremendous capacity available in the Permian, other areas of the USA and across the world to safely and permanently store carbon dioxide, and Occidental is a leader in implementing CCUS partnerships, like the one with White Energy, in pursuit of carbon neutrality.
OGCI’s KickStarter project draws on the success of policies such as those in the USA to incentivize commercial investment in CCUS.
What member companies are doing
Learn more about our member companies’ work to reduce carbon emissions.
Shell – The lessons of Quest
In May 2019, just four years after its launch shortly before the signing of the Paris Agreement, Shell announced that its Quest facility in Alberta, Canada, had captured and safely stored 4 million tonnes of carbon dioxide.
Equinor – A world leader in carbon efficiency
Equinor has eliminated around 2 million tonnes of carbon dioxide over the past decade through a series of energy efficiency initiatives.
BP – Decarbonising industry
The UK’s first zero-carbon industrial centre took another step closer to reality today with the formation of a consortium to accelerate the Net Zero Teesside project.