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Occidental Petroleum Corp

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  • US stocks open mostly lower; oil price slides Friday, 22 May 2015 | 9:41 AM ET

    Campbell Soup rose 2 percent after reporting earnings that came in ahead of what analysts were looking for. Occidental Petroleum and Noble Corporation each fell 2 percent. The price of oil fell $1.22, or 2 percent, to $59.48 a barrel.

  • ABU DHABI/ SEOUL May 13- State-run Abu Dhabi National Oil Company has signed a 40- year deal with GS Energy, selling the South Korean firm a 3 percent stake in an onshore oil concession to develop the United Arab Emirates' biggest oilfields. GS Energy joins Japan's Inpex Corp and France's Total in winning contracts so far to develop the oilfields, which produce 1.6...

  • They came from companies as large as Occidental Petroleum, which pumped nearly 200,000 bpd or over 2 percent of U.S. crude in the first quarter, and as small as Carrizo Oil& Gas Inc., which produced about a tenth as much. Bellwether shale firms including EOG Resources and Whiting Petroleum Corp maintained production forecasts from earlier this year, sticking to...

  • May 6- Occidental Petroleum Corp boosted its 2015 production forecast on Wednesday after reporting an adjusted quarterly profit in line with expectations as cost cuts helped balance the recent drop in oil prices. Noble Energy Inc and Concho Resources Inc also raised their production outlooks this week. Occidental posted a net loss of $218 million, or 28 cents...

  • Occidental Petroleum unveils CEO succession plan Tuesday, 5 May 2015 | 4:53 PM ET

    May 5- Occidental Petroleum Corp said on Tuesday that executive Vicki Hollub will replace Chief Executive Steve Chazen after "a thorough transition period." As part of the announcement, Oxy said Hollub would be promoted immediately to senior executive vice president from vice president. Oxy also boosted its annual dividend 4 percent on Tuesday to $3.

  • TOKYO/ ABU DHABI, April 27- Japan's Inpex Corp became the first Asian oil company to get a stake in a new 40- year onshore oil concession in Abu Dhabi, joining France's Total in developing the United Arab Emirates' biggest oilfields. Abu Dhabi National Oil Company said on Monday it had granted Inpex a 5 percent stake in the new concession. The Inpex concession gives...

  • WTI ends down as Brent sits near 4-1/2 month high Friday, 24 Apr 2015 | 2:32 PM ET
    An oil well owned an operated by Apache Corp. in the Permian Basin, Garden City, Texas.

    Oil prices diverged, with Brent rising to a near 4½ month high and WIT crude falling as data showed the drop in US oil rigs quickened this week.

  • *Saudi-led coalition continues Yemen bombings. SINGAPORE, April 24- Oil prices held steady on Friday near 2015- highs reached the session before, remaining on track for weekly gains after renewed air strikes in Yemen stoked concerns on the security of Middle East oil shipments. Brent crude for June delivery had climbed 22 cents to $65.09 a barrel by 0706 GMT,...

  • *Saudi-led coalition continues Yemen bombings. SINGAPORE, April 24- Oil prices on Friday edged down from 2015- highs reached in the previous session, but prices remained on track for weekly gains after renewed air strikes in Yemen stoked concerns on the security of Middle East oil shipments. Brent crude for June delivery was down 30 cents at $64.55 a barrel by...

  • Oil prices edge back from 2015-highs Thursday, 23 Apr 2015 | 10:26 PM ET

    *Saudi-led coalition continues Yemen bombings. SINGAPORE, April 24- Oil prices on Friday edged back from 2015- highs reached the session before, but remain on course for weekly gains after renewed air strikes in Yemen stoked concerns on the security of Middle East oil shipments. The spike in prices on Thursday came as warplanes from a Saudi-led coalition...

  • HOUSTON, April 23- There is a growing disconnect between Houston and Wall Street over when slumping oil prices will recover. Beaten down by a seven-month rout that slashed crude prices from over $147 a barrel last summer to $42 a barrel, producers are bracing for oil to remain at about $60 a barrel for as long as the next five years or so, according to executives...

  • The low oil price CEOs think will last for years Tuesday, 21 Apr 2015 | 3:43 PM ET
    Gas prices

    Oil CEOs expect low oil prices to linger for at least a few years, due to a market flush with private financing and productive wells.

  • The world's most important oil producer is now ... Monday, 20 Apr 2015 | 9:52 AM ET
    An oil well in the Permian Basin is shown in Garden City, Texas, Feb. 5, 2015.

    US oil companies have quickly become the new swing factor in the oil market. How they react to the crash will be key to future oil prices.

  • A 3,000% tax rate? Be glad it's not you Wednesday, 15 Apr 2015 | 12:39 PM ET
    Fracking crews member watches over water tanks at an Anadarko Petroleum Corporation site near Brighton, Colorado.

    There are 10 companies in the S&P that paid effective tax rates of 60% or greater last year. USA Today reports.

  • Energy investors, beware ‘the great cram-down’ Wednesday, 8 Apr 2015 | 5:05 PM ET
    A floor hand works on an oil rig in the Bakken shale formation outside Watford City, N.D.

    After Shell's BG deal, investors might be tempted to chase the next potential energy takeout. Here's why that could be a big mistake.

  • The fall was slight, but it was just the second year-over-year decline since April 2010, when an oil production boom was just beginning to transform Midland. Midland has a population of around 140,000, and an economic decline there alone should not seriously dent the state economy. At the heart of the Permian Basin, one of the biggest oil deposits in the country,...

  • BP drops out of conservative ALEC policy group Monday, 23 Mar 2015 | 6:06 PM ET

    WASHINGTON, March 23- Oil company BP said on Monday it has stopped supporting conservative political group ALEC, becoming the latest corporation to end its membership in a group critics say works to deny the existence of climate change. Earlier in 2014, Google did the same. Google executive chairman Eric Schmidt said his company wanted out because ALEC was "...

  • Power Play: When to start investing in energy again Monday, 23 Mar 2015 | 1:40 PM ET
    Rig floorhands clean a drilling pipe at a natural gas well in the Eagle Ford shale in Karnes County, Texas.

    Why energy stocks will head higher later in the year.

  • *FXCM jumps on results, Aeropostale down on outlook. Chevron Corp fell 1.4 percent to $101.03 while Occidental Petroleum lost 1.4 percent to $73.50. "It's a bit of a surprise that the U.S. continues to produce at such a high level, and that amount of oil surplus continues to push the commodity lower," said Michael Arone, chief investment strategist for State Street...

  • MEXICO CITY, March 12- Mexico's government on Thursday urged the private sector to take a bigger role in billions of dollars worth of planned public works and the opening of the country's energy sector, weeks after scaling back its own planned spending due to slumping oil prices. Mexico, a major crude exporter, has suffered from a slowdown in growth in the past two...