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Brendan McDermid - 1 " Roth - 1 Joe Biden's - 1 Vicki Hollub - 1 Sourasis Bose - 1 Shilpi Majumdar - 1 David Gregorio Our - 1
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Search resuls for: "Sabrina Valle Sourasis Bose"


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☆ Occidental buys carbon air capture tech firm for $1.1 billion
  + stars: | 2023-08-15 | by ( Sabrina Valle Sourasis Bose | Sabrina Valle | Sourasis Bose | ) www.reuters.com   time to read: +2 min
The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. The DAC technology is in early stages of commercialization and will require multibillion-dollar investments to prove it can work economically and generate profits. President Joe Biden's administration views DAC technology as a tool to help meet a goal of neutralizing emissions by 2050, if it can be commercialized and applied at industrial scale. While carbon capture is applied to emissions produced at industrial facilities, DAC actively removes CO2 from the air. Some of that money will fund Occidental's 30 proposed DAC plants in Kleberg Country, Texas.
Persons: Brendan McDermid, " Roth, Joe Biden's, Vicki Hollub, Sourasis Bose, Shilpi Majumdar, David Gregorio Our Organizations: Occidental Petroleum, New York Stock Exchange, REUTERS, Carbon Engineering Ltd, Occidental, Low Carbon Ventures, U.S . Department of Energy, Congress, Carbon Engineering, Thomson Locations: New York, U.S, Texas, Louisiana, Country , Texas, Occidental, Bengaluru
☆ Occidental Petroleum quarterly earnings down 48%, misses estimates
  + stars: | 2023-05-09 | by ( Sabrina Valle Sourasis Bose | Sabrina Valle | Sourasis Bose | ) www.reuters.com   time to read: +2 min
May 9 (Reuters) - U.S. oil and gas producer Occidental Petroleum Corp (OXY.N) on Tuesday reported a 48% decline in first-quarter earnings that fell well short of analyst estimates as global economic growth concerns led to a decline in oil prices. Occidental's crude oil sold for 19% less than the year-ago quarter, averaging $74.22 per barrel. Earnings declined despite a boost in first quarter oil and gas daily output to 1.22 million barrels from 1.08 million a year earlier, helped by higher production from its Permian operations. Adjusted earnings of $1.09 per share for the quarter fell far short of analysts' $1.24 per share estimate compiled by Refinitiv. Occidental increased its year-end production guidance by 20,000 barrels of oil and gas to 1.22 million barrels per day.
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