Occidental Plans 70 Plants to Capture Carbon From Air by 2035

Occidental Petroleum Corp., the shale giant backed by Warren Buffett, plans to build 70 carbon capture facilities around the world by 2035 that will each remove as much as 1 million tons per year of the greenhouse gas directly from the atmosphere.

Construction on the first, $1 billion so-called direct air capture plant in the Permian Basin of West Texas is expected to start in the second half of this year, with its startup slated for late 2024, Houston-based Occidental said in a presentation to investors Wednesday.