Occidental Petroleum Corp.’s (Oxy) board has launched a search for a new CEO as part of the company’s management succession planning process. The board has formed a search committee to review both internal and external candidates to replace current President and CEO Stephen Chazen, 65. No timetable has been set for the completion of the search. As previously announced, Oxy Executive Chairman Ray Irani, who is in his late 70s, will retire at the end of 2014.
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Prospects and Price Shocks Cloud Gas Production Horizon
A lack of cheap, easy drilling prospects, a succession of price shocks and industry consolidation are some of the main factors behind the downturn of natural gas production in North America, according to financial analyst Irene Haas.
Prospects and Price Shocks Cloud Gas Production Horizon
A lack of cheap, easy drilling prospects, a succession of price shocks and industry consolidation are some of the main factors behind the downturn of natural gas production in North America, according to financial analyst Irene Haas.
PG&E Doles Out $75 Million in Property Taxes
For the second year in succession while still embedded in Chapter 11 bankruptcy proceedings, Pacific Gas and Electric Co. announced Tuesday it has doled out $75 million in local property tax payments to 49 California counties, the largest payment being $11.8 million to San Luis Obispo County along the central coast in which the utility’s massive Diablo Canyon Nuclear Generating Plant is located.