The American Occidental Petroleum Company stated that its Oxy Low Carbon ventures subsidiary has supplied a cargo of 2 million barrels (mmbbl) of carbon-neutral oil to Reliance Industries Company of India, S&P Global Platts reported.

Oxy elaborated that this is the first major petroleum shipment in the energy industry in which all associated greenhouse gas were offset.

The company added that this is the first step in developing net-zero oil which will be produced by capturing and isolating co2 form the atmosphere via industrial-scale direct air capture facilities and geological sequestration.