Occidental Hopes to Sell the Carbon It Captures at the World’s Biggest Plant
- It can be used to make plastics, synthetic fuel, company says
- Named Stratos, plant to capture 500,000 tons of carbon dioxide
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When Occidental Petroleum Corp. opens the world’s biggest plant for sucking carbon dioxide out of the sky in two years, the oil giant hopes to sell the captured carbon for the manufacturing of a number of products including plastic and synthetic fuel.
At a groundbreaking ceremony Friday deep in the heart of the Permian Basin, Chief Executive Officer Vicki Hollub unveiled the name of the $1.1 billion plant as Stratos. By the time it’s commercially operating in 2025, the 64-acre site will capture 500,000 tons of carbon dioxide annually.