Key Developments For Occidental Petroleum Corporation
Occidental Petroleum Corporation (OXY) (NYSE Arca)
Iraq, Eni S.p.A. Led Group Including Occidental Petroleum Corporation Sign Initial Zubair Oil Deal-Reuters
Reuters reported that Iraq's Oil Ministry signed an initial agreement with a consortium led by Eni S.p.A. to develop the four billion barrel Zubair oilfield. Eni has said it and its partners Occidental Petroleum Corporation and Korea Gas Corporation expected to invest $10 billion in the field as they ramp up production to 1.125 million barrels per day from 195,000 bpd within seven years.
Occidental Petroleum Corporation Comments On Q4 2009 Production Outlook-Conference Call
Occidental Petroleum Corporation announced that for the fourth quarter of 2009, it expects oil and gas sales volumes to increase to about 650,000, 660,000 BOE a day, at around current prices.
Occidental Petroleum Corporation Announces Acquisition Of Phibro LLC From Citigroup Inc.
Occidental Petroleum Corporation announced that it signed an agreement to purchase Phibro LLC (Phibro) from Citigroup Inc., for approximately net asset value. Primarily a trader in oil and gas, Phibro's assets consist of cash, marketable securities and readily saleable commodity positions. Phibro does not trade in any exotic derivatives or hold any level three type assets. Occidental's net investment in Phibro is expected to be about $250 million. The transaction is expected to close by year end. Upon closing, Occidental will support the credit of Phibro. Phibro will become a part of Occidental's midstream segment which includes Occidental's natural gas liquids, power, pipeline and existing trading business.
Occidental Petroleum Corporation Announces Dividend
Occidental Petroleum Corporation announced that its Board of Directors has declared a regular quarterly dividend of $0.33 per share on common stock payable on January 15, 2010, to stockholders of record as of December 10, 2009. This quarterly dividend is at the same level as the dividend paid in July.
Occidental Petroleum Corporation Declares Dividend
Occidental Petroleum Corporation announced that it has declared a regular quarterly dividend of $0.33 per share on common stock payable October 15, 2009, to stockholders of record on September 10, 2009.
