Articles by Richard Nemec

Oxy’s California E&P Spin-Off Likely, Says CEO

Occidental Petroleum Corp. (Oxy) CEO Stephen Chazen indicated Tuesday that spinning off the company's estimated $16 billion oil and natural gas operations in California is a likely offshoot of new strategic plans to sell off some domestic and foreign assets to expand existing U.S. holdings. Read More

PG&E Pipe Penalty Decision Expected 1Q2014

Noting that the company is operating in a politically charged environment, PG&E Corp. CEO Tony Earley predicted Wednesday that pending multi-billion-dollar natural gas pipeline fines and penalty cases should be decided by state regulators in the first quarter of 2014. If proposed penalties exceeding $2 billion are imposed, Pacific Gas and Electric Co. (PG&E) will appeal in either state or federal courts. Read More

California Regulators Slammed for Utility Lapses

Using unusually harsh language, the California Senate Subcommittee on Gas and Electric Infrastructure Safety in a staff-generated report strongly criticized the California Public Utilities Commission (CPUC) for allegedly dropping the ball on safety oversight of the state's major energy utilities. Read More

Permian, California Focus Oxy's U.S. Growth Plans, CEO Says

Stepped-up activity in unconventional plays in both the Permian Basin and California are at the heart of growth plans for Los Angeles-based Occidental Petroleum Corp. (Oxy) as outlined by senior executives Tuesday during a 3Q2013 earnings conference call in which they reported increased profits. Read More