Occidental

Oxy’s Hollub Encourages Biden Administration to Herald Oil, Natural Gas Development for Jobs, Reinvestment

Oxy’s Hollub Encourages Biden Administration to Herald Oil, Natural Gas Development for Jobs, Reinvestment

Occidental Petroleum Inc. CEO Vicki Hollub said Tuesday the Biden administration’s attempt to corral federal oil and gas development could constrict jobs growth while dampening supply as the world transitions from fossil fuels.   Hollub shared a microphone with her management team to discuss first quarter results for Oxy, as it is better known. The administration…

May 12, 2021
Oxy, Cemvita Piloting Bio-Ethylene Process to Reduce CO2, Compete with Hydrocarbon Feedstocks

Oxy, Cemvita Piloting Bio-Ethylene Process to Reduce CO2, Compete with Hydrocarbon Feedstocks

A unit of Occidental Petroleum Corp. (Oxy) is partnering in a pilot project that could produce 1 metric tons/month of ethylene using human-made carbon dioxide (CO2) instead of hydrocarbon feedstocks like natural gas and oil. Houston-based Cemvita Factory, a bio-engineering start-up, is working with Oxy Low Carbon Ventures (OLCV) on the bio-ethylene pilot facility, which…

April 8, 2021
Oxy, NextDecade Ink CCS Deal for South Texas Rio Grande LNG Project

Oxy, NextDecade Ink CCS Deal for South Texas Rio Grande LNG Project

U.S. liquefied natural gas (LNG) player NextDecade Corp. is one step closer to sanctioning a carbon capture and sequestration (CCS) project associated with its planned LNG facility in South Texas after signing an initial agreement with Houston-based independent Occidental Petroleum Corp. (Oxy). Houston-based NextDecade said Thursday it had inked a term sheet with Oxy Low…

March 26, 2021
Oxy Taking ‘Contrarian Approach’ to Net-Zero Emissions by Developing Oil Resources, Reusing CO2

Oxy Taking ‘Contrarian Approach’ to Net-Zero Emissions by Developing Oil Resources, Reusing CO2

Houston-based Occidental Petroleum Corp. is aiming for net-zero carbon emissions, but rather than investing in renewables, it plans to capture and then reuse the carbon from its global oil developments, CEO Vicki Hollub said Tuesday. During a third quarter conference call, Hollub and the executive team offered details about the sweeping strategy to boost oil…

November 13, 2020
Permian-Focused Shut-ins Mount, as Oxy, Region’s E&Ps Slice Completions, Production

Permian-Focused Shut-ins Mount, as Oxy, Region’s E&Ps Slice Completions, Production

Stung by the untimely and expensive takeover of Anadarko Petroleum Corp. in 2019, debt-laden Occidental Petroleum Corp. (Oxy) is working to right itself after taking a battering in the first three months, joining other Permian Basin-heavy operators in reducing activity in reaction to plummeting demand.

May 6, 2020
Icahn Cements Control at Oxy through Board Appointments

Icahn Cements Control at Oxy through Board Appointments

In concessions to activist shareholder Carl Icahn, Houston-based independent Occidental Petroleum Corp. (Oxy) has named Magnolia Oil and Gas Corp. CEO Stephen Chazen as chairman and appointed three Icahn-picked directors to the board.

March 25, 2020
In Concession to Icahn, Oxy Taps Former Chief Chazen as Chair

In Concession to Icahn, Oxy Taps Former Chief Chazen as Chair

Houston-based independent Occidental Petroleum Corp. (Oxy) said Tuesday it has named Magnolia Oil and Gas Corp. CEO Stephen Chazen as chairman in an apparent concession to activist shareholder Carl Icahn.

March 24, 2020
Shell, Ecopetrol Form Deepwater Natural Gas Alliance Offshore Colombia

Shell, Ecopetrol Form Deepwater Natural Gas Alliance Offshore Colombia

A subsidiary of Royal Dutch Shell plc has acquired a 50% operating stake in three ultra-deepwater natural gas blocks from Colombian national oil company Ecopetrol SA, the companies said Friday.

February 13, 2020

Occidental Casting Off Anadarko’s Legacy Western Midstream Partnership

Houston independent Occidental Petroleum Corp., working to improve shareholder confidence after sharply increasing its debt load with the Anadarko Petroleum Corp. takeover, has executed several agreements to enable Western Midstream Partners LP (WES) to operate as an independent company.

January 6, 2020

Occidental Forecasting Lower 48 3Q Oil, Gas Output 3% Above Guidance

Houston-based Occidental Petroleum Corp. said its third quarter production, including combined output from Anadarko Petroleum Corp., is expected to average 1.310-1.369 million boe/d, versus initial guidance of 1.062-1.102 million boe/d.

October 15, 2019
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