Occidental Petroleum (NYSE:OXY) Explores South Texas DAC Facility With US$500 Million Potential Investment
Occidental Petroleum (NYSE:OXY) recently announced a joint venture with ADNOC's XRG to develop a Direct Air Capture facility in South Texas, aligning with broader market enthusiasm, as seen with a 14% S&P 500 rise in seven days. The collaboration, potentially involving a $500 million investment, coincided with Occidental's 15% share price increase over the last month. The company's Q1 2025 earnings report, highlighting revenue growth to $6.8 billion, also played a role in supporting positive...