Occidental to sell Microsoft carbon credits to offset data center emissions: US-based oil giant Occidental Petroleum’s carbon capture, utilization, and sequestration unit 1PointFive signed an agreement with US tech company Microsoft to sell 500k metric tons of carbon credits over six years, Reuters reported earlier this week. The credits will be provided by 1PointFive’s Stratos facility in Texas that was developed with BlackRock to capture 500k metric tons of CO2 annually. The value of the transaction — the largest of its kind to date — was not disclosed. This comes in efforts to reduce its growing emissions driven by AI, which Microsoft reported increased by 30% since 2020. Microsoft committed to being carbon negative by 2030.

REMEMBER- Occidental has its eyes on MENA: The company’s Omani subsidiary Oxy Oman signed an agreement last November with state-owned OQ Gas Networks to conduct studies for establishing carbon capture projects in the sultanate. The company also signed an agreement with Adnoc earlier in August to assess the feasibility of establishing what they said could be the first megaton DAC project outside of the US with a 1 mn ton annual carbon sequestration capacity.

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