Welcome to our dedicated page for Occidental Pet news (Ticker: OXY), a resource for investors and traders seeking the latest updates and insights on Occidental Pet stock.
Occidental Petroleum Corporation (NYSE: OXY) is an international energy company that produces, markets and transports oil and natural gas, with assets primarily in the United States, the Middle East and North Africa. The company describes itself as one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins and offshore Gulf of America, and it emphasizes a focus on carbon management and low-carbon ventures through its Oxy Low Carbon Ventures subsidiary.
The OXY news feed on Stock Titan aggregates company announcements, press releases and other coverage related to Occidental’s operations and corporate actions. Readers can follow updates on quarterly and annual financial results, including earnings releases that the company furnishes on Form 8-K, as well as notices about upcoming earnings conference calls and related earnings considerations that management believes will impact results.
News for Occidental also includes information on dividends declared by the Board of Directors, asset divestitures and acquisitions. Recent examples in the supplied materials include announcements about divestitures of select Permian Basin assets for debt reduction, the acquisition of CrownRock, L.P., and the agreement and subsequent completion of the sale of Occidental’s chemical business, OxyChem, to Berkshire Hathaway Inc. for cash consideration, as reported in joint press releases and Form 8-K filings.
Occidental’s communications often highlight its midstream and marketing segment, its low-carbon ventures, and its efforts to manage its balance sheet through debt reduction and portfolio high-grading. By following the OXY news page, users can track these developments, review official company statements and monitor how Occidental describes its evolving portfolio and strategic priorities over time.
1PointFive, a subsidiary of Occidental (NYSE: OXY), has partnered with the Houston Texans to provide carbon dioxide (CO2) removal credits from its upcoming Direct Air Capture (DAC) facility, set to be operational in late 2024. This agreement allows the Texans to offset emissions from their air travel for three seasons. DAC technology effectively removes CO2 directly from the atmosphere and sequesters it in saline reservoirs, contributing to climate goals. This partnership marks 1PointFive as the Texans' Preferred Carbon Removal Partner.
Smead Capital Management announces its second annual Smead Investor Oasis on February 6, 2023, at Hilton Scottsdale Resort in Scottsdale, AZ. The event features presentations from Smead Capital and prominent figures, including Vicki Hollub, CEO of Occidental (OXY), discussing her management style and outlook on the energy sector. Additionally, Anas Abuzaakouk from BAWAG Group will share insights on European banking. Investors can look forward to a live podcast recording with Amity Schlaes discussing her book, Great Society: A New History.
Enbridge and Oxy Low Carbon Ventures announced plans to jointly develop a carbon dioxide (CO2) sequestration hub in the Corpus Christi area, Texas. A letter of intent has been signed to explore this project, aiming to provide a complete CO2 solution for local emitters through a pipeline transportation system and sequestration facility. Enbridge will manage pipeline operations, while OLCV will handle sequestration facilities. The initiative is expected to support other emitters in the area and contribute to decarbonization efforts, aligning with both companies' net-zero strategies.
Occidental (NYSE: OXY) announced its third quarter 2022 financial results on November 8, 2022. The full earnings release and related financial documents are accessible via the company’s Investor Relations section on oxy.com and the SEC’s website. A conference call is scheduled for November 9, 2022, at 1 p.m. Eastern, which can be joined by phone or webcast. Occidental is a leading energy company with significant assets in the U.S., Middle East, and North Africa, involved in oil production, midstream operations, and chemical manufacturing.
Occidental (NYSE: OXY) has announced a quarterly dividend of $0.13 per share, scheduled for payment on January 17, 2023. The record date for stockholders is set for December 12, 2022.
Occidental is a significant player in the international energy market, focusing on oil production in the U.S., Middle East, and North Africa. Its operations include oil and gas production, midstream services, and chemical manufacturing, alongside initiatives aimed at reducing emissions through innovative technologies.
Occidental has signed a lease agreement with King Ranch for 106,000 acres in Texas, enabling large-scale Direct Air Capture (DAC) projects for carbon sequestration. This site has the potential to store up to 3 billion metric tons of CO2, facilitating the removal of 30 million metric tons of CO2 annually. The agreement will support Occidental's plans for commercial DAC plants, emphasizing decarbonization efforts. This represents one of the largest DAC deployment projects globally, with expectations for substantial environmental impact.
Natural Resource Partners L.P. (NYSE: NRP) announced an agreement with Occidental’s Low Carbon Ventures (OXY) to evaluate a carbon dioxide (CO2) sequestration hub in southeast Texas. This partnership will utilize approximately 65,000 acres of pore space controlled by NRP, with a total estimated storage capacity of 500 million metric tons of CO2. NRP currently manages about 140,000 acres for CO2 sequestration, aiming to develop its carbon-neutral portfolio. This move is part of broader strategies to support decarbonization.
Occidental's Low Carbon Ventures (OLCV) subsidiary has partnered with Natural Resource Partners L.P. to assess the development of a CO2 sequestration hub in southeast Texas. This hub, covering approximately 65,000 acres, aims to store over 500 million metric tons of CO2. This initiative aligns with OLCV’s goals to provide solutions for industrial carbon emissions and supports broader decarbonization efforts.
OLCV plans to collaborate with its subsidiary, 1PointFive, to advance this project, reinforcing its commitment to achieving net-zero carbon emissions.
Occidental (NYSE: OXY) will report its third quarter 2022 financial results on November 8, 2022, after market close. A conference call to discuss these results is scheduled for November 9, 2022, at 1 p.m. Eastern/12 p.m. Central. Interested participants can join by calling 1-866-871-6512 or via webcast at oxy.com/investors. The results will be accessible on the company's website, and a recording of the call will be available shortly afterward.
Western Midstream Partners, LP (NYSE: WES) announced a letter of intent with Occidental Petroleum Corporation (NYSE: OXY) to explore low-carbon intensity oil and gas production. The collaboration focuses on developing carbon dioxide (CO2) capture, transportation, and sequestration services in Texas and Colorado. Oxy plans to install carbon capture facilities on its upstream activities, while WES will do the same at its natural gas plants. This partnership aims to enhance sustainability and provide carbon management services to other emitters, reinforcing the companies' commitment to reducing greenhouse gas emissions.