Occidental and 1PointFive Secure Class VI Permits for STRATOS Direct Air Capture Facility

Core Points - The U.S. Environmental Protection Agency has approved Occidental and 1PointFive's Class VI permits for carbon dioxide sequestration from the STRATOS Direct Air Capture facility in Texas, marking a significant milestone for the company [1][2][3] - The permits are essential for Occidental's strategy to securely store CO2 captured from the atmosphere, demonstrating compliance with federal and state requirements during the EPA's review process [2][3] - STRATOS is designed to capture up to 500,000 tonnes of CO2 annually and is expected to commence commercial operations in 2025, contributing to U.S. energy security and economic growth [3] Company Overview - Occidental is a major international energy company with significant assets in the U.S., Middle East, and North Africa, recognized as one of the largest oil and gas producers in the U.S. [4] - The company is involved in various segments, including midstream and marketing, and is committed to advancing carbon management technologies through its Oxy Low Carbon Ventures subsidiary [4] - 1PointFive focuses on Carbon Capture, Utilization, and Sequestration (CCUS) solutions, aiming to mitigate global temperature rise through innovative decarbonization technologies [5]