A subsidiary of Occidental and Canadian clean energy company Carbon Engineering are teaming up to build the world’s biggest Direct Air Capture (DAC) and sequestration facility in the Permian that will suck carbon dioxide from the air to be later used in enhanced oil recovery. Occidental’s subsidiary Oxy Low Carbon Ventures (OLCV) and Carbon Engineering are proceeding with the engineering and design of this facility aimed at capturing 500 kilotons of carbon dioxide (CO2) directly from the atmosphere each year, which would be used in Occidental’s enhanced oil recovery (EOR) operations and subsequently stored underground permanently, the companies said in a joint statement. In case the two companies approve the plant, construction is expected to start in 2021, and the plant is set to be operational some two years later. “Using atmospheric CO2 for oil recovery greatly reduces the net addition of CO2 to the atmosphere from oil production […]