Occidental's 1PointFive Strikes Deal with AT&T for Carbon Credit Purchase
(Reuters) — Carbon capture firm 1PointFive said on Wednesday telecom company AT&T has agreed to purchase carbon dioxide removal credits as part of its goal to reduce emissions and become carbon neutral in its global operations by 2035.
1PointFive is the carbon capture, utilization and sequestration unit of oil and gas firm Occidental Petroleum. AT&T will buy the credits from 1PointFive's Stratos, a direct air capture facility that is currently under construction in Texas.
AT&T and 1PointFive did not disclose the financial details of the agreement.
Carbon credits are tradable permits that allow the owner to emit certain amounts of greenhouse gases. Each credit permits the emission of one metric ton of carbon dioxide or the equivalent in other greenhouse gases.
Stratos is designed to capture up to 500,000 metric tons of carbon dioxide annually when fully operational.
1PointFive had earlier announced carbon credit agreements with companies such as Amazon, Boston Consulting Group and Trafigura, among others.
Related News
Related News
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Enbridge Plans $2 Billion Upgrade for North America’s Largest Crude Pipeline
- New Alternatives for Noise Reduction in Gas Pipelines
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Enbridge Plans $2 Billion Upgrade for North America’s Largest Crude Pipeline
- South Dakota Governor Signs Bill Banning Eminent Domain for Carbon Pipeline
- Woodside May Delay Final Investment Decision on Louisiana LNG to Q2, CEO Says
Comments