Tag Archives | Occidental Petroleum

OMV Restarts Production; Increases Stakes in Libyan Fields

Austria's OMV has announced that, as a result of the improvement in the political and security situation in Libya, it has successfully started up production at both the Sirte and Sharara oil fields. The Sharara fields are located in the Murzuq basin. In Q4/2016 OMV’s production from Libya amounted to approximately 3,000 bbl/d. OMV also […]

Wintershall Eyes Oxy Assets in Libya

Germany's Wintershall is reported to be interested in buying some or all of the Libyan assets of Occidental Petroleum. The Wall Street Journal said that Houston-based Occidental has sought and obtained permission from the National Oil Corporation (NOC) to allow Wintershall access to confidential data on the fields it partly owns. Occidental currently participates, along […]

NOC "Opens Books" to Oil Firms

Reuters reports that the National Oil Corporation (NOC) has opened its books to international oil firms to reassure them that payments for exported oil were not being used to fuel hostilities between rival factions. Among the companies that the NOC met last month were ConocoPhillips, Occidental Petroleum, Total, OMV, Eni and Statoil. The Tripoli-based company […]

Occidental Offers Stake in Mideast Unit

Occidental Petroleum has reportedly begun trying to sell a minority stake in its Middle East unit for as much as $8 billion. According to a report from Bloomberg, Chief Executive Officer Stephen Chazen (pictured) has held talks with sovereign wealth funds and possible strategic partners for a 40 percent stake in the Mideast business, whose […]