"Currently the market assigns no value to OXY’s green endeavours"
> The reason is that their previous 'Century' CCS was a failure.
While both plants are categorised as CCS, they use different carbon capture technologies. Stratos is using Direct Air Capture (DAC) while Century is pulling carbon from a specific source of emissions.
Century was also built into a natural gas processing plant to suck in the CO2 it spews before it escapes into the air. This carbon capture process is cheaper, uses simpler tech and is more established than the DAC used in Stratos.
Though Oxy benefited from the direct application of Century, with the captured CO2 used by the oil firm in producing more oil, the older CCS plant failed to deliver expected results:
Thanks for the write up. If i may be so bold, do you have an opinion on Strathcona ?
Hi Ancient, have looked at it before and agree it has potential. Send me your email and I’ll share some thoughts nwu@opensquarecap.com
"Currently the market assigns no value to OXY’s green endeavours"
> The reason is that their previous 'Century' CCS was a failure.
While both plants are categorised as CCS, they use different carbon capture technologies. Stratos is using Direct Air Capture (DAC) while Century is pulling carbon from a specific source of emissions.
Century was also built into a natural gas processing plant to suck in the CO2 it spews before it escapes into the air. This carbon capture process is cheaper, uses simpler tech and is more established than the DAC used in Stratos.
Though Oxy benefited from the direct application of Century, with the captured CO2 used by the oil firm in producing more oil, the older CCS plant failed to deliver expected results:
https://carboncredits.com/occidental-petroleum-quietly-abandons-biggest-carbon-capture-plant/