Oxy Gets Federal Support for Two CCS Projects

October 7, 2024--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--A division of Occidental Petroleum Corporation (NYSE:OXY) (Oxy) (Houston, Texas) said it has federal support for the development of two carbon-sequestration facilities along the U.S. Gulf Coast. 1PointFive, a subsidiary of Oxy, announced it had received $36 million from the Department of Energy to help fund its Bluebonnet and Magnolia carbon-capture and storage (CCS) hubs. Other companies featured: Kinder Morgan Incorporated (NYSE:KMI)