Occidental Petroleum subsidiary 1PointFive expects its STRATOS direct air capture (DAC) facility in the Permian Basin, Texas, to begin initial operations in Q2 2026, with Phase 1 in the final stage of startup and Phase 2 commissioning beginning the same quarter. Once fully ramped, the project is designed to capture up to 500,000 metric tons of CO₂ per year, positioning STRATOS as one of the largest DAC facilities in the world.

By combining low-cost barrels, advanced recovery, carbon infrastructure, and digital execution, Occidental is positioning itself not just for 2026 — but for whatever energy market follows next.

Occidental Petroleum delivered a strong operational quarter, marked by improved production, higher efficiency, and results that exceeded guidance across multiple basins. Operational execution—not higher commodity prices—was the primary driver, as performance gains came from better well productivity, stronger base production, and improved uptime across both onshore and offshore assets.

The Texas Commission on Environmental Quality (TCEQ) has approved a Permit by Rule (PBR) for the Goldsmith Landreth Deep Gas Reinjection Station, a new CO₂ injection and recycling hub under Rule 106.352 (Oil and Gas Production Facilities). The facility, registered to Occidental Permian Ltd., represents a strategic addition to Occidental’s Ector County enhanced oil recovery (EOR) operations.

OXY USA has advanced a coordinated infrastructure program in Reagan County’s Spraberry Trend Area that connects new wells, gathering systems, and supporting facilities across its Merchant, Amerigo, and Marco Polo leases.

Occidental Petroleum CEO Vicki Hollub shared a confident yet measured outlook for oil markets this week at the Energy Intelligence Forum in London, forecasting a period of price stability followed by a tightening market later in the decade. Hollub expects oil prices to remain within a $58 to $62 per barrel range through 2026, describing the near-term environment as relatively balanced. But beyond that horizon, she sees growing potential for upward movement. v

Occidental Petroleum (NYSE: OXY) is reportedly negotiating the sale of its OxyChem division in a deal that could top $10 billion, according to the Financial Times. If completed, the transaction would mark the largest divestiture in the company’s history — and reshape both Occidental’s balance sheet and the global petrochemical industry.

Occidental Petroleum (NYSE: OXY) has update, driven by robust fundamentals, operational excellence, and a balance sheet strengthened by aggressive debt reduction. OXY’s unique positioning at the intersection of traditional oil and gas strength and a forward-looking energy transition strategy.

Occidental Petroleum’s Q2 2025 earnings call showcased a company hitting its stride in Permian Basin drilling and completions. Even with softer oil prices, Oxy drove significant cost reductions, accelerated drilling cycles, and maintained production guidance—all while high-grading its portfolio and advancing AI-driven operational strategies.