Occidental Petroleum Corp. has agreed to partner with the top oil producer in the United Arab Emirates to explore investment in the US and overseas for giant plants that suck carbon dioxide out of the sky.
The memorandum of understanding with Abu Dhabi National Oil Co. includes an agreement to consider the possibility for a direct air-capture plant in the UAE that could absorb as much as 1 million tons of carbon dioxide annually, Occidental said Tuesday in a statement.
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