The Energy Department's Energy Information Administration said Monday that shale oil and gas resources are abundant globally after assessing 137 shale formations in 41 countries outside the United States. Currently, only the United States and Canada are producing shale oil and shale gas in commercial quantities, the administration said.
The possible spinoff of Occidental's California portfolio and potential assets sales in the Middle East/ North Africa region seem like intriguing long-term opportunities, Resvan said.
Shares of Occidental were up 2.2 percent on Monday at $94.12, nearly $11 higher than before CEO Steve Chazen mentioned on the quarterly conference call that he was looking at potential deals to "move the needle" for the stock.
May 13- Transocean Ltd said on Monday that Chairman Michael Talbert will step down later this year, in a move that comes just days before the culmination of a fight between the offshore driller and investor Carl Icahn in which Talbert was a target.
May 10- John Hess is being stripped of his chairman duties at Hess Corp, as the oil and gas company scrambles to avoid an embarrassing defeat by an activist investor. Hess Corp said on Friday that it will separate the roles of chairman and chief executive immediately following its annual meeting next week.
SANTA MONICA, Calif., May 3- Occidental Petroleum Corp shareholders in a vote on Friday ousted Chairman Ray Irani after more than two decades of leading the oil company. "I think the announcement was basically a formality at this point," said Allen Good, an oil company analyst at Morningstar in Chicago, referring to Irani's departure. "
SANTA MONICA, Calif., May 3- Occidental Petroleum Corp said Chairman Ray Irani would step down after shareholders withheld support for him to remain on the board following a push by certain investors to reject him after what some saw as a "fight at the top" of the company.
*UK PM welcomes deal as UAE leader arrives in London. DUBAI, April 30- Royal Dutch Shell has beaten France's Total to a multi-billion-dollar project to develop a tricky gas field with Abu Dhabi National Oil Co..
April 29- Occidental Petroleum Corp said Chief Executive Steve Chazen would continue in his role through 2014 with the full support of the board, countering a report that Chairman and former CEO Ray Irani wants Chazen to be replaced immediately. Occidental shares were up about 1 percent at $87.76 in trading before the bell.
April 25- Occidental Petroleum Corp posted a higher-than-expected profit as cost cuts blunted the impact of low natural gas prices, while the fourth-largest U.S. oil company weighs various efforts to boost its lagging stock price.
HOUSTON, April 25- Quarterly results from Exxon Mobil Corp and ConocoPhillips on Thursday showed that while overall growth remained elusive, output rose in key basins in the United States where the oil and gas companies are spending heavily to grow crude production.
April 8- The board of Occidental Petroleum Corp, which has said it is searching for an eventual replacement for Chief Executive Stephen Chazen, denied on Monday that there was a "fight at the top" over the succession.
March 30- Occidental Petroleum Corp chairman and former chief executive Ray Irani is pushing to replace the oil company's current CEO, Stephen Chazen, the Wall Street Journal reported on Saturday, citing "investors and people familiar with the company's operations."
March 30- Occidental Petroleum Corp chairman and former chief executive Ray Irani is pushing to replace the oil company's current CEO, Stephen Chazen, the Wall Street Journal reported on Saturday, citing "investors and people familiar with the company's operations."
The Federal Reserve won't change course on quantitative easing this week, Steve Weiss of Short Hills Capital says.
Tuesday, 18 Jun 2013 | 7:10 AM ETAn airline passenger records a Chinese cargo handler as he tosses boxes of something on to and off of a conveyor belt for shipment. Hopefully, the cargo was packed well.
Tuesday, 18 Jun 2013 | 9:33 AM ETPlans to take PC maker Dell private by leveraging the company's balance sheet are misguided, CNBC's Jim Cramer said on "Squawk on the Street" Tuesday, because the company is facing lower margins and an increased competition from rival Hewlett Packard.