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
![](/media/2035/pgj-enews-graphic-300x1404.jpg)
- Mexican President: Billionaire Slim Interested in Pemex Natural Gas Project
- Freeport LNG Sues Three Contractors Over Defects at Texas Plant
- Energy Transfer Adds 6,000 Miles of Pipeline with $3.25 Billion WTG Midstream Acquisition
- FERC Approves Transco's Texas to Louisiana Gas Pipeline Project
- Williams Says Court Rules in Its Favor in Pipeline Dispute with Energy Transfer
- U.S. to Buy 4.5 Million Barrels of Oil to Replenish Strategic Petroleum Reserve
- Kurdish Oil Smuggling to Iran Flourishes
- U.S. Court Overturns Alaska Oil Lease Sale, Halting Energy Development
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
Comments