Occidental Petroleum Company News
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Buying Texas Oil at New Mexico Prices: Majors Go West for Shale
Tuesday, November 14, 2017 Oil producers discouraged by the rising cost of accessing the vast deposits of the Permian Basin are sneaking into a geological back door, through neighboring New Mexico.
Occidental 3Q Profit Beats Forecasts On Rising Oil Prices
Wednesday, November 01, 2017 Occidental Petroleum Corp posts a better-than-expected quarterly profit as rising commodity prices offset Hurricane Harvey's impact on operations.
HOW COOL IS THAT! Young West Texas Plant Manager
Tuesday, October 24, 2017 Occidental West Texas plant manager's job includes collaboration, innovation.
Buyers Eye Sinopec's Argentina Oil Assets in Sale Worth Up to $1B - Sources
Monday, October 09, 2017 Two sources said the Sinopec assets would be a tough sell.
Occidental Petroleum's Profit Beats As Prices For Chemicals Jump
Wednesday, August 02, 2017 Occidental Petroleum Corp posts a better-than-expected quarterly profit.
Hess To Sell Permian EOR Assets To Occidental For $600 Million
Monday, June 19, 2017 Hess says it will sell its stake in enhanced oil recovery (EOR) projects in the Permian Basin of West Texas and New Mexico.
Occidental Profit Beats; Shares Fall On Weak Output Forecast
Thursday, May 04, 2017 Occidental Petroleum's quarterly profit beats estimates but the company's shares fall to a near eight-year low.
US Shale Firms Go Back To Work Buoyed By OPEC Deal, Trump Victory
Monday, November 14, 2016 US shale producers are redeploying cash, rigs and workers, cautiously confident the energy sector has turned a corner after Donald Trump's election victory and OPEC's recent output curb pledge.
Occidental Petroleum Loss Misses Street Forecast As Output Drops
Tuesday, November 01, 2016 Oxy posts a larger-than-expected quarterly loss, as the Houston-based company curtailed production due to the slump in oil prices.
US Frackers Surprise Themselves As Tweaks Keep Adding Barrels
Wednesday, August 03, 2016 Nimble US shale oil producers continue to show an uncanny ability to squeeze more and more crude from new wells, allowing them to do more with less.
ADNOC, OMV, Occidental Sign Exploration Agreement in UAE
Monday, March 21, 2016 ADNOC, OMV, and Occidental Petroleum sign an agreement to conduct a four-year seismic, drilling and engineering work program for exploration, appraisal and potential field developments in Abu Dhabi.
ConocoPhillips Cannibalizes Dividend as Occidental Holds Firm
Thursday, February 04, 2016 ConocoPhillips joins the ranks of oil explorers curtailing dividend payouts after suffering its steepest quarterly loss in almost a decade.
Occidental Suffers Biggest Loss in 25 Years on Oil's Slump
Thursday, February 04, 2016 Occidental Petroleum posts its deepest quarterly loss in at least 25 years as plummeting crude prices destroy oil field value.
Officials: Occidental to Sell Zubair Stake to Iraq's South Oil
Wednesday, November 11, 2015 Occidental Petroleum will sell its stake in the four billion-barrel Zubair oilfield to Iraq's South Oil Company.
Occidental to Exit Williston Basin
Wednesday, October 28, 2015 Oxy will exit the Williston Basin and evaluate other non-core operations as it seeks to boost operating cash flow and returns while reducing costs.
Occidental's North Dakota Deal Mixed Omen For Pending Oilfield Deals
Friday, October 16, 2015 Occidental Petroleum's move to sell its North Dakota acreage removes a logjam that had impeded US oilfield deals for much of the year, although the deal signals a buyers' market.
Occidental Petroleum Quarterly Profit Drops 85%
Thursday, July 30, 2015 Occidental Petroleum Corporation says its quarterly profit fell 85 percent as crude oil prices plunged from last year's levels.
Shell Bids to Drill 2 Albanian Onshore Blocks
Thursday, July 23, 2015 A Royal Dutch Shell and Petromanas joint venture has applied to drill 2 onshore blocks in central Albania, an official told Reuters on Thursday.
Occidental Petroleum Boosts 2015 Production Outlook
Wednesday, May 06, 2015 Occidental Petroleum Corp boosts its 2015 production forecast after reporting an adjusted quarterly profit in line with expectations as cost cuts helped balance the recent drop in oil prices.
Occidental Petroleum Unveils CEO Succession Plan
Tuesday, May 05, 2015 Occidental Petroleum says that executive Vicki Hollub will replace CEO Steve Chazen after "a thorough transition period."
UAE's ADNOC Sign $500M Technical Agreement with Oxy
Tuesday, February 10, 2015 ADNOC signs a technical agreement with Occidental Petroleum to develop the al-Hail and Ghasha oilfields, ADNOC says in a statement.
Occidental Results Beat Expectations On Texas Production
Thursday, January 29, 2015 Occidental Petroleum reports better-than-expected quarterly results as its Texas shale assets boost total production even as crude oil prices slump.
Conoco, Occidental And Shell Cut 2015 Budgets On Crude Slide
Thursday, January 29, 2015 ConocoPhillips and Occidental Petroleum slash exploration spending plans for this year, as the third- and fourth-largest US oil companies attempt to cope with a steep slide in crude prices.
Occidental Petroleum Profit Beats Expectations As Production Jumps
Thursday, October 23, 2014 Occidental Petroleum posts a better-than-expected quarterly profit as US oil production jumps.
Analysts: Oxy Sale Of Bakken Assets Would Make Strategic Sense
Tuesday, October 07, 2014 Any sale of Occidental's roughly 330,000 acres in North Dakota's oil-rich Bakken shale formation would make strategic sense for the company, which is likely eager to strike a deal, analysts say.
Occidental's Board Approves Spin-Off Of California Unit
Thursday, October 02, 2014 Occidental Petroleum says its board of directors has approved the spin-off of its California oil and natural gas business to its shareholders.
Occidental Names Veteran Exec As California Unit CEO
Thursday, July 10, 2014 Occidental Petroleum names longtime executive Todd Stevens as chief executive of California Resources ahead of its planned spin-off of the subsidiary.
Bloomberg: Occidental Middle East Stake Sale Hits Dead End
Thursday, July 03, 2014 Occidental fails to sell a stake in its Middle East business and now plans to sell some assets piece by piece, Bloomberg reported, citing people with knowledge of the matter.
Sources: Occidental Suspends Colombia Oil Output After Rebel Attack
Wednesday, July 02, 2014 Production at Occidental Petroleum's oil fields in Colombia has been suspended following a rebel attack that left 13 people injured over the weekend, according to company and military sources.
Occidental Petroleum To Spin Off California Assets
Friday, February 14, 2014 Occidental Petroleum says it will spin off its California assets into a separately traded company, creating the state's largest natural gas producer.
Occidental Selling US Gas Assets For $1.4 Billion
Thursday, February 13, 2014 Occidental Petroleum says it reached a deal to sell its interests in a large natural gas field in the central United States for a pre-tax price of $1.4B.
Higher Sales, Oil Prices Boost Occidental Profit
Thursday, January 30, 2014 Occidental posts a better-than-expected quarterly profit after selling more crude than it produced.
GDI Inks $228M Contract for Al-Wajba Jackup with Oxy Qatar
Wednesday, January 29, 2014 Gulf Drilling International inks a five-year $227.92 million deal with Occidental Petroleum of Qatar for the Al-Wajba jackup.
API Waves Goodbye to Cazalot, Says Hello to Chazen
Tuesday, November 12, 2013 As Clarence Cazalot prepares for his departure from Marathon Oil Company and API, the national trade association elects Occidental Petroleum's Chazen as Next Chairman.
Energy Day Event in Downtown Houston a Hit with Thousands
Friday, October 25, 2013 Thousands attend the third annual Consumer Energy Alliance Energy Day event in Houston.
Occidental Plans Sale of Middle East Oil Stake
Friday, October 18, 2013 Occidental Petroleum Corp. says it plans to sell a minority stake in its Middle East and North African operations, part of a restructuring meant to lift its valuation.
Lured by Texas Talent, Occidental Strays from California Roots
Wednesday, September 18, 2013 Occidental Petroleum Corp may still be headquartered in LA, as it has been since being founded nearly a century ago, but its center of gravity is shifting to Houston, capital of the US energy industry.
Occidental Says Proceeding with Cline Shale Pipeline in Texas
Tuesday, August 06, 2013 Occidental Petroleum Corp unit Centurion Pipeline says it will proceed with building a Cline shale pipeline system in Texas.
Qatar Petroleum, Oxy Ink Idd El Shargi Development Agreement
Monday, July 15, 2013 An Oxy subsidiary and Qatar Petroleum sign an agreement for the fifth field development plan phase for the Idd el Shargi North Dome Field offshore Qatar.
The Piper Alpha Disaster: 25 Years On
Friday, July 05, 2013 Rigzone remembers the offshore oil and gas industry's greatest disaster and looks at health and safety offshore UK today.
Occidental CEO Discussed Potential Sale of Overseas Assets, Spinoff
Thursday, May 23, 2013 Occidental may consider selling its overseas assets or splitting into three separate companies in order to fund a stock buyback and improve its share price, Chief Executive Steve Chazen tells investors.
Occidental CEO to Stay Through 2014
Monday, April 29, 2013 Occidental says it will keep CEO Steve Chazen through the end of 2014 and replace Chairman Ray Irani with an independent board member, defusing a struggle over the future leadership of the oil company.
Occidental Petroleum Says No Fight Between Chairman and CEO
Monday, April 08, 2013 There is no "fight at the top" between OXY Chairman Ray Irani and CEO Stephen Chazen, according to a statement issued by the oil and gas company's board of directors.
Occidental Petroleum 4Q Profit Falls 79% on Write-Down
Thursday, January 31, 2013 OXY fourth-quarter earnings tumbled 79% as the energy producer recorded a $1.1B write-down of gas assets in the Midcontinent that offset higher oil production and cost-cutting.
Brenham Inks PSC Agreement for Equatorial Guinea Block
Thursday, December 20, 2012 Brenham Oil & Gas has executed a production sharing contract with the government of Equatorial Guinea in West Africa.
Exxon In Talks With Oil Cos to Sell Iraq's West Qurna-1 Stake
Wednesday, November 07, 2012 ExxonMobil has begun talks with other international oil companies to sell its stake in Iraq's West Qurna-1 oilfield in southern Iraq, a senior Iraqi oil official said.
Occidental: Ruling on Annulment of Ecuador Award Could Take Over a Year
Friday, November 02, 2012 OXY says that its award from the World Bank's International Centre for Settlement of Investment Disputes could be tied up for more than a year while the tribunal considers an application from Ecuador to annul the ruling.
Occidental Petroleum 3Q Net Down 22% on Weaker Prices
Thursday, October 25, 2012 OXY third-quarter profits sank 22%, ushering in what is expected to be a dire quarter for US oil-and-gas producers' earnings because of sharp drops in prices.
Ecuador Will Fight Not to Pay Occidental in Oil Dispute
Monday, October 15, 2012 Ecuador's President Rafael Correa said his govt will fight not to pay OXY compensation that was ordered by an international tribunal for canceling a contract in 2006.
Ecuador Seeks Annulment of International Court Ruling in Occidental Case
Wednesday, October 10, 2012 Ecuador has officially requested the annulment of an international court ruling that ordered it to pay $1.77 billion, plus pre- and post-award interest, to Occidental Petroleum Corp.