 Per the Financial Times, Oxy has signed a multi-year contract to sell Microsoft 500,000 carbon credits. The price of the credits are reportedly a discount to current market rate of $1,000 per ton of CO2. Even so, it is expected to generate hundreds of millions of revenue for Oxy's carbon management business. The credits will come from Occidental's first direct air capture project, Stratos, in West Texas, which is set to be the world's biggest such facility when it goes online next year. The project is being developed.