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Occidental CEO Vicki Hollub highlighted the potential of direct air capture (DAC) technology to significantly enhance oil recovery during a discussion at Davos, suggesting it could yield an additional 50 to 70 billion barrels from existing reservoirs. She emphasized that CO2 injection could nearly double oil extraction from shale, while U.S.

Secretary of Energy Chris Wright noted the ongoing reliance on hydrocarbons amid regulatory challenges. The conversation also addressed the shifting funding landscape for oil and gas projects in light of increasing renewable investments.