Occidental Petroleum

Algeria’s State Company Sonatrach Plans to Sign an Agreement on the Development of a Large Hydrocarbon Deposit with Chevron, Said the Country’s Minister of Energy Mohamed Arkab The country also expects to sign contracts with ExxonMobil by the end of the year for the development of very important fields that …

The Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates (UAE) and ExxonMobil Corporation of the United States will work jointly to enhance oil recovery at the Upper Zakum offshore oil field, ADNOC announced following the recent visit of U.S. President Donald Trump to the Emirates. The field …

Oil companies plan to drill an offshore well in Colombia at a record depth within a few months. Occidental Petroleum and Ecopetrol want to build the Komodo–1 well by the end of the year at a depth of about 3,900 meters. It will break the current record for drilling depth …

Occidental Petroleum is completing talks with Permian Resources to sell its Texas assets, Barilla Draw, for $1 billion, Reuters reports. The move is part of Occidental’s broader strategy to reduce its debt, which topped $18 billion at the end of the first quarter. The deal could close in the coming …

Berkshire Hathaway, the investment division of the world-famous entrepreneur and billionaire Warren Buffett, consistently continues to buy shares in the oil and gas shale oil and gas company Occidental Petroleum, operating in the United States. Buffett’s purchase of shares in the specified American shale oil producer is carried out for …

Occidental’s costs are reduced by drilling activity, but it will be able to cover part of the debt from the purchase of CrownRock. Capital spending on shale production and exploration will be cut by $320 million and two drilling rigs in the U.S. Permian Basin will be idled this year, …