Occidental Petroleum Corp.

Occidental Petroleum Corp. (NYSE: OXY) announced today that its Board of Directors has approved the spin-off of its California oil and gas business into an independent and separately traded company, California Resources Corporation. The companies will be separated through the distribution of approximately 80.1 percent of the outstanding shares of California Resources to holders of Occidental common stock. Subject to the [...]

LONDON, September 29, 2014 /PRNewswire/ -- The Permian basin, now the nation's most productive, is churning out ever-increasing volumes of crude. As of September 2014, the Permian is producing 1.7 million barrels per day (bpd), much more than more well-known oil producing areas like North Dakota's Bakken or South Texas' Eagle Ford. The Permian is king, even if the rest of the world doesn't know it. Occidental Petroleum [...]

TULSA, Okla. and HOUSTON, Sept. 29, 2014 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") and Occidental Petroleum Corp. (NYSE: OXY) announced today that BridgeTex Pipeline began commercial service today, delivering crude oil from West Texas to the Houston Gulf Coast area. Construction of the BridgeTex Pipeline commenced in Nov. 2012 following an initial successful open season in which [...]

TULSA, Okla. and HOUSTON, Aug. 8, 2014 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") and Occidental Petroleum Corp. (NYSE: OXY) announced today that BridgeTex Pipeline has extended its supplemental open season for additional transportation commitments on the pipeline. Binding commitments are now due by 5:00 p.m. Central Time on August 14, 2014. Construction of the BridgeTex Pipeline commenced [...]

Occidental Petroleum Corporation (NYSE:OXY) announced net income for the second quarter of 2014 of $1.4 billion ($1.82 per diluted share), compared with $1.3 billion ($1.64 per diluted share) for the second quarter of 2013. Core income was $1.4 billion ($1.79 per diluted share) for the second quarter of 2014, compared with $1.3 billion ($1.58 per diluted share) for the second quarter of 2013. In announcing the results [...]

Occidental Petroleum Corporation (NYSE: OXY) today announced the appointment of Marshall D. (Mark) Smith as Senior Executive Vice President and Chief Financial Officer for its subsidiary, California Resources Corporation. Following its separation from Occidental, California Resources Corporation will be an independent oil and natural gas exploration and production company focused on high-growth, high-return conventional [...]

Occidental Petroleum Corporation (NYSE: OXY) today announced new executive management responsibilities following the recent appointment of leadership for the company’s California Resources Corporation (CRC) subsidiary. Effective immediately, the following executives will head key operations as direct reports to Stephen I. Chazen, President and Chief Executive Officer of Occidental Petroleum: WCW (Willie) Chiang [...]

Occidental Petroleum Corporation (NYSE: OXY) today announced the leadership team for its subsidiary California Resources Corporation (CRC), appointing Todd A. Stevens as President and Chief Executive Officer, and William E. Albrecht as Executive Chairman of the Board. CRC will be an independent oil and natural gas exploration and production company focused on high-growth, high-return conventional and unconventional assets [...]

Occidental Petroleum Corporation (NYSE:OXY) said today that its board of directors has declared a regular quarterly dividend of $.72 per share on common stock payable on October 15, 2014, to stockholders of record as of September 10, 2014. Occidental has paid quarterly dividends continuously since 1975 and has increased its dividend each year since 2002. The current annual rate is $2.88 per share. About Occidental [...]

TULSA, Okla. and HOUSTON, July 9, 2014 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") and Occidental Petroleum Corp. (NYSE: OXY) announced today that BridgeTex Pipeline has launched a supplemental open season for additional transportation commitments on the pipeline. Interested customers must submit binding commitments by 5:00 p.m. Central Time on August 7, 2014.  Construction of the BridgeTex [...]