With many of the best production sites already tapped, companies flush with cash from the post-pandemic run-up in oil prices are increasingly buying rivals to secure new places to drill.
“Direct air capture shouldn’t be compared to point source carbon capture, what it should be compared to is [SAF],” the CEO said. SAF has more emissions than Oxy’s net zero oil, she continued.
“If we are to successfully transition to the energy system of tomorrow, we cannot simply unplug from the energy system of today,” Adnoc CEO Dr Sultan Al Jaber warned the ADIPEC conference in Abu Dhabi this month.
Kosmos Energy and Ghana National Petroleum Corp. (GNPC) have bought out Occidental Petroleum’s stake in the Jubilee and TEN fields.
Occidental Petroleum has made another discovery in Abu Dhabi’s Block 3, the company revealed during a quarterly results conference call.
Occidental Petroleum has won the exploration rights to Abu Dhabi Onshore Block 5, Adnoc has reported.
America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.
Occidental Petroleum intends to keep production flat in 2021 but one bright spot for the company is Algeria.
Occidental Petroleum Corp. took a $1.4 billion writedown related to an investment in a pipeline affiliate, cut capital spending and withdrew its guidance for the year after a historic collapse in oil prices.
Occidental Petroleum Corp. cut its dividend for the first time in 30 years as the oil producer opts to conserve cash to cover debt incurred in its $37 billion takeover of Anadarko Petroleum Corp. last year.
The world's first ultra-sour gas project has been officially opened by the Abu Dhabi National Oil Company(ADNOC) in a joint venture with Occidental Petroleum.