Occidental Agrees to Acquire Carbon Engineering for Approximately $1.1 Billion
August 15, 2023
Occidental (through a wholly owned subsidiary) has entered into a definitive agreement to acquire Carbon Engineering Ltd. for approximately $1.1 billion in cash, payable in three roughly equal annual installments. The deal — which will make Carbon Engineering a subsidiary of Oxy Low Carbon Ventures upon closing — is intended to accelerate deployment and commercialization of direct air capture (DAC) technology and expand Occidental's low-carbon capabilities.
- Buyers
- Occidental, Oxy Low Carbon Ventures, 1PointFive
- Targets
- Carbon Engineering Ltd.
- Industry
- Energy
- Location
- British Columbia, Canada
- Transaction Type
- Buyout
Explore More
Related Acquisitions
-
Berkshire Hathaway Acquires OxyChem From Occidental for $9.7 Billion
January 3, 2026
Manufacturing
Berkshire Hathaway has completed the all-cash acquisition of OxyChem, Occidental’s chemical division, for $9.7 billion, subject to customary post-closing purchase price adjustments. OxyChem is a Dallas, Texas-headquartered producer of essential commodity chemicals with operations across the United States, Canada, and Latin America.
-
EIG to Acquire Ocyan for US$390 Million
December 28, 2023
Industrial Services
EIG has entered into definitive agreements to acquire Ocyan Participações S.A., a Brazilian offshore oil and gas solutions provider, for a total enterprise value of US$390 million. The deal is expected to close in the first quarter of 2024, subject to customary closing conditions.
-
Occidental Petroleum to Acquire CrownRock LP in a $12 Billion Deal
December 11, 2023
Oil & Gas
Occidental Petroleum entered into a purchase agreement to acquire Midland, Texas-based oil and gas producer CrownRock L.P. for approximately $12.0 billion, including the assumption of CrownRock’s debt. The deal is expected to close in the first quarter of 2024, subject to regulatory approvals and customary closing conditions.
-
SLB to Acquire Majority Ownership in Aker Carbon Capture
March 27, 2024
Energy
SLB announced an agreement to combine its carbon capture business with Aker Carbon Capture (ACC), with SLB to own 80% of the combined business and ACC to own the remaining 20%. SLB will pay NOK 4.12 billion to purchase 80% of Aker Carbon Capture Holding AS and may make additional performance-based payments up to NOK 1.36 billion over the next three years.
-
Accenture Acquires Carbon Intelligence
September 1, 2022
Consulting
Accenture has acquired Carbon Intelligence, a London-based carbon and climate change strategy consultancy, adding more than 160 sustainability and carbon experts to its global sustainability capabilities. The acquisition expands Accenture’s carbon strategy, emissions measurement and decarbonisation advisory services to help clients set and meet science-based targets.
-
Methanex Acquires OCI Methanol from OCI Global for $1.6 Billion
June 27, 2025
Energy
Methanex Corporation has completed the acquisition of 100% of OCI Global's methanol business (OCI Methanol) for USD 1.6 billion on a cash‑free, debt‑free basis, consisting of approximately USD 1.3 billion of cash and 9.9 million Methanex common shares. The deal transfers multiple methanol production assets (including facilities in Beaumont, Texas and Delfzijl, Netherlands, and OCI's HyFuels low‑carbon business) to Methanex and enables OCI to return capital to shareholders and reduce debt.
Track M&A activity that matters to you
Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.