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2014-10-08 20:55:00

OCCIDENTAL SELL $3 BLN

OCCIDENTAL SELL $3 BLN

Occidental Petroleum Corp, the fourth-largest U.S. oil and gas producer by market capitalization, is looking to sell its North Dakota oil assets for as much as $3 billion as the company seeks to focus on profitable regions, Bloomberg reported on Monday.

The company is looking to sell about 335,000 net drilling acres in the Williston Basin and is working with Tudor Pickering Holt & Co in connection with the sale, Bloomberg reported, citing people with knowledge of the matter.

Occidental Petroleum said last week that its board of directors had approved the spin-off of its California oil and natural gas business to its shareholders.

The company has increased its focus on production from fields in the Permian Basin in Texas and New Mexico.

Occidental Petroleum and Tudor Pickering Holt & Co were both not immediately available for comment.

reuters.com

Tags: OCCIDENTAL, OIL, GAS, U.S.,

Chronicle:

OCCIDENTAL SELL $3 BLN
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

OCCIDENTAL SELL $3 BLN
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

OCCIDENTAL SELL $3 BLN
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

OCCIDENTAL SELL $3 BLN
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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