America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.
Occidental Petroleum intends to keep production flat in 2021 but one bright spot for the company is Algeria.
Occidental Petroleum Corp. reported a $6.6 billion writedown in the second quarter, equivalent to more than 40% of its market value, as the collapse in energy prices took its toll on the debt-laden U.S. shale oil producer.
Occidental Petroleum is reviewing options for its Middle Eastern assets as it seeks ways to reduce its debt pile, people familiar with the matter said.
Total has scrapped plans to buy assets that had belonged to Anadarko Petroleum in Ghana.
Occidental Petroleum will continue to hold its Algerian assets following its inability to conclude the sale of them to Total.
Occidental Petroleum Corp. took a $1.4 billion writedown related to an investment in a pipeline affiliate, cut capital spending and withdrew its guidance for the year after a historic collapse in oil prices.
Occidental Petroleum Corp. cut its dividend for the first time in 30 years as the oil producer opts to conserve cash to cover debt incurred in its $37 billion takeover of Anadarko Petroleum Corp. last year.
China National Offshore Oil Corporation (Cnooc) International’s UK managing director and senior vice president for Europe and Africa, Ray Riddoch OBE has quit the firm.
Increasingly more recoverable barrels of oil and gas around the world are coming from corporate mergers and acquisitions, and not from traditional exploration.
Occidental Petroleum Corp. sold $13 billion of debt to help finance its acquisition of Anadarko Petroleum Corp. after receiving over $75 billion in orders for the deal at the peak, according to people familiar with the matter.
Occidental Petroleum sent a letter to its shareholders Monday asking them to reject the board takeover bid pushed by activist investor Carl Icahn.
Shareholders of Anadarko Petroleum will get to vote Aug. 8 on whether to approve the pending $38 billion acquisition of The Woodlands oil and gas producer by Occidental Petroleum, the company announced late Thursday.
Houston’s position as the energy capital of the world is based on fossil fuels, but the nation’s fourth-largest city must embrace new technologies and cleaner energy if it wants to lead the way for decades to come, energy executives said Thursday at the first Houston Low-Carbon Energy Summit.
Activist investor Carl Icahn launched a lawsuit against Occidental Petroleum with the goal of potentially seeking board seats and a sale of the company.
Occidental Petroleum Corp. will move forward with its $38 billion takeover of Anadarko Petroleum Corp., the oil industry’s biggest deal in at least four years, after Chevron Corp. bowed out of the bidding.
Chevron Corp. is abandoning its $33 billion offer for oil driller Anadarko Petroleum Corp., the culmination of a month-long bidding war in which Occidental Petroleum Corp. prevailed over a rival five times its size.
Occidental Petroleum Corp.’s corporate jet has crossed the Atlantic for the second time in two weeks, landing in the Netherlands, according to flight-tracking data and people familiar with the matter.
Occidental Petroleum chief executive Vicki Hollub is on the cusp of winning a David versus Goliath bidding war that has captivated the oil industry.
Anadarko Petroleum’s board has declared Occidental Petroleum’s sweetened $38 billion takeover “superior,” giving Chevron four days to either boost its offer or walk away from the oil industry’s biggest deal in at least four years.
Warren Buffett’s intervention in Occidental Petroleum Corp.’s $37 billion unsolicited bid for Anadarko Petroleum Corp. may tip the scales in the oil industry’s biggest bidding war in decades.
Anadarko Petroleum Corp.’s market value has soared 56 percent since a bidding war for the American shale driller kicked off two weeks ago. Yet the company’s directors have managed to step on the toes of almost every player involved.
Chevron’s income narrowed in the first three months of the year despite selling a package of global oil and gas assets.
Occidental Petroleum Corp. triggered a bidding war for Anadarko Petroleum Corp. after making a $57 billion (£44bn) counter-offer in attempt to break up a proposed takeover by Chevron Corp.
Some of the top oil and gas companies received perfect scores in the new LGBT workplace equality rankings, but the energy sector still ranks at the bottom for inclusion standards out of all industries nationwide.