Occidental has signed long-term agreements with two companies to secure CO₂ captured from natural gas processing in the Delaware Basin for enhanced oil recovery (EOR) in the Permian Basin. These projects aim to capture and transport about 2 million metric tons of CO₂ annually, with potential expansion to 4 million tons. Infrastructure including nearly 100 miles of new CO₂ pipelines will be developed, improving CO₂ supply diversity and supporting future recovery efforts. Initial CO₂ shipments are expected by 2029, backed by federal incentives to support carbon capture investments.
Occidental Petroleum (OXY) trades at USD 55.76 on Pluang as of Nov 10, 2026 04:12 WIB, down 1.10% for the day. This price is closer to its 52-week low of USD 38.92 than the 52-week high of USD 66.24, reflecting a moderate recovery phase. Despite the recent dip, investor interest remains strong with 95% of Pluang orders buying OXY shares, indicating confidence in its long-term projects like the new CO₂ pipeline agreements.
