How the CEO of Occidental Plans to Go ‘Carbon Negative’

The video discusses Occidental's acquisition of Anadarko to enhance its assets in the Permian Basin, focusing on Enhanced Oil Recovery (EOR) techniques. EOR involves injecting CO2 to increase oil production, with potential for significant output growth. Challenges exist in applying EOR to shale due to its tight rock structure. Occidental is experimenting with CO2 sequestration, aiming for carbon neutrality. Despite technical success, market response has been lukewarm. The company plans to expand EOR in shale, potentially reducing emissions and achieving carbon neutrality.

How does Enhanced Oil Recovery (EOR) typically function?

What challenges does Occidental face in implementing EOR in shale?

What are the potential benefits of using CO2 in oil recovery?

What is the significance of the Anadarko acquisition for the company?

Describe the process of injecting CO2 into reservoirs as mentioned in the text.

How much CO2 emissions reduction does Occidental aim for?

What is the current rate of CO2 sequestering by Occidental?