Occidental Pet Stock Price, News & Analysis

Occidental (NYSE: OXY) announced a quarterly dividend of $0.13 per share on common stock, payable on July 15, 2022, to stockholders of record by June 10, 2022. This decision reflects the company's commitment to returning value to shareholders while maintaining a stable financial position. Occidental is a leading oil producer in the U.S., with significant operations in the Permian and DJ basins, and is focused on reducing emissions through its Oxy Low Carbon Ventures subsidiary.

EnLink Midstream and Oxy Low Carbon Ventures have signed a letter of intent for a Transportation Services Agreement to transport CO₂ along the Mississippi River in Louisiana. EnLink will leverage existing and new pipeline infrastructure to facilitate this service, linking industrial emitters to OLCV's sequestration facility in Livingston Parish. The corridor is noted for its high industrial CO₂ emissions. This collaboration aims to advance carbon management solutions and align with net-zero goals.

Enterprise Products Operating LLC and Oxy Low Carbon Ventures, both subsidiaries of EPD and OXY respectively, have signed a letter of intent to develop a carbon dioxide (CO₂) transportation and sequestration project for the Texas Gulf Coast.

The initiative will leverage existing infrastructure from Houston to Beaumont/Port Arthur, combining Enterprise’s midstream expertise with OLCV’s CO₂ management capabilities. They aim to commercialize services that aid industrial emitters in achieving net-zero goals through effective carbon management strategies.

Occidental (NYSE: OXY) will release its first quarter 2022 financial results on May 10, 2022, after market close. A conference call to discuss these results is scheduled for May 11, 2022, at 1 p.m. Eastern Time. Investors can access the conference via phone or webcast. The financial results will be available in the Investor Relations section of Occidental's website, along with a recording of the webcast. Occidental operates in the energy sector, prominently in oil production, and is focused on advancing low-carbon technologies.

Occidental's subsidiary, Oxy Low Carbon Ventures (OLCV), partnered with Weyerhaeuser Company to evaluate a carbon capture and sequestration project in Louisiana. OLCV aims to develop a hub on over 30,000 acres to permanently store industrial carbon dioxide in underground formations. This initiative is part of OLCV's strategy to create several sequestration hubs in the U.S., targeting a capacity to sequester hundreds of millions of metric tons of CO2. The agreement represents a significant step toward combating climate change and advancing sustainability goals.

Occidental (NYSE: OXY) has announced the election of Vicky A. Bailey to its Board of Directors, effective March 22, 2022. With over 35 years in the energy sector, Bailey previously served as President of Anderson Stratton International and held key positions at the U.S. Department of Energy and the Federal Energy Regulatory Commission. She aims to enhance shareholder value and support Occidental's Pathway to Net Zero initiative. Her diverse experience in energy policy and management will contribute to the company’s vision in advancing lower-carbon technologies.

1PointFive, a subsidiary of Occidental (NYSE: OXY), has sold 400,000 tonnes of carbon removal credits to Airbus as part of its first Direct Air Capture (DAC) facility initiative. The agreement allows Airbus to secure 100,000 tonnes of CO₂ removal annually for 4 years. This milestone demonstrates the feasibility of DAC technology in decarbonizing the aviation sector. The DAC facility, anticipated to be the world’s largest, will begin construction in the Permian Basin later in 2022, with a potential capacity of 1 million tonnes of CO₂ removal per year.

On March 9, 2022, Occidental (NYSE: OXY) announced the results of its cash tender offers for outstanding notes. The maximum purchase price for Pool 1 Notes has been increased from $1.5 billion to $1.527 billion, and for Pool 2 Notes from $1 billion to $1.289 billion. The offers expired on March 4, 2022, and as of that date, valid tenders were accepted as specified. Settlement for the accepted notes will occur on March 9, 2022. The company engaged several financial institutions as lead dealers for the offers, which do not constitute a solicitation to buy or sell any securities.