Occidental signs first “net zero oil” supply deal with Asian trading house

Published 10:00 on March 23, 2022  /  Last updated at 10:56 on March 23, 2022  /  Americas, Asia Pacific, Australia, International, Other APAC, South Korea, US, Voluntary  /  No Comments

US oil and gas company Occidental has signed an agreement with a South Korean trading company for the supply of “net zero oil” in a five-year deal that involves the use of direct air capture (DAC) technology to remove CO2 from the atmosphere to abate the lifecycle emissions of the oil sold, the company announced.

US oil and gas company Occidental has signed an agreement with a South Korean trading company for the supply of “net zero oil” in a five-year deal that involves the use of direct air capture (DAC) technology to remove CO2 from the atmosphere to abate the lifecycle emissions of the oil sold, the company announced.

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