Occidental Petroleum has announced a new oil discovery at the Bandit prospect in the Gulf of Mexico, underscoring the region’s continued importance to U.S. energy supplies amid global uncertainty. The find, located about 125 miles south of Louisiana, is jointly owned by Chevron and Woodside Energy. Occidental operates the project with a 45.375% interest, while…
The conflict with Iran has already driven up oil prices. Brent, the global benchmark, has risen more than 70% this year to surpass $100 a barrel. That has fueled a big rally in energy stocks. For example, the average energy stock in the S&P 500 This year it has already increased by approximately 40%. If…
(By Oil & Gas 360) – Capital discipline continues to define strategy across the US energy sector. Asset Sales, Debt Reduction, Gas Growth Mark Q4 E&P Moves – Oil & Gas 3600 SM Energy announced an agreement to sell its South Texas assets to Caturus Energy for $950 million, further streamlining its portfolio and bolstering…
Occidental Petroleum posted a net loss of $68 million, or $0.07 per diluted share, for the fourth quarter of 2025, compared with adjusted earnings of $315 million, or $0.31 per share. The gap between GAAP and adjusted results was primarily due to charges tied to the divestiture of its chemical unit, OxyChem, which officially closed…
Occidental Petroleum Corporation (OXY), headquartered in Houston, Texas, is an energy company that acquires, explores, develops and produces oil and natural gas. With a market capitalization of $40.6 billion, the company also manufactures and markets a range of essential chemicals, further diversifying its presence in the energy and industrial sectors. Shares of this energy company…
Wall Street’s primary indices are expected to open on a positive note, boosted by signals from the Federal Reserve indicating possible rate cuts in the coming year. This change came on the heels of the central bank’s decision to keep interest rates unchanged, with Federal Reserve Chair Jerome Powell expressing confidence that the recent strong…
