Occidental Petroleum Cuts Pay for Staff, Executives
Occidental Petroleum Corp. is cutting salaries for its U.S. employees by up to 30% in a bid to slash expenses, according to an internal email reviewed by The Wall Street Continue Reading
US Big Oil Employees Risk Savings As Share Prices Slide
Employees at U.S. oil supermajors have lost $5 billion in savings since the end of 2018 as more than a third of these savings were in company stocks, which have Continue Reading
Is This The Worst Oil Deal Of The Decade?
On the 8 th of August 2019 a major oil company completed an acquisition that could well be looked back on as the worst oil deal of the decade. Since Continue Reading
Big Oil Prepares To Suffer In 2020
When Rystad Energy analysts last November told Bloomberg that Big Oil investors were in for a windfall of dividends and share buybacks as the companies shifted into renewables, they couldn’t Continue Reading
Occidental (OXY) Slashes Dividend for First Time in 20 Years
Occidental Petroleum Corp. cut its dividend for the first time in 30 years as the oil producer opts to conserve cash to cover debt incurred in its $37 billion takeover of Continue Reading
Price rout throws oil majors’ spending plans into doubt
Oil majors will be under pressure to slash their investment plans and cut shareholder payouts this year as oil prices tumbled to multi-year lows Monday after Saudi Arabia launched a Continue Reading
Occidental to Slash Spending After Oil Crash
Occidental Petroleum Corp. plans to cut capital spending after oil futures plummeted below some of its hedging levels and threatened its dividend, according to people familiar with the matter. The Continue Reading
U.S. discussing non-renewal of Chevron’s Venezuela waiver, moves to cut oil trade – sources
The U.S. government is preparing to impose new measures as soon as next week to stifle Venezuela’s oil exports, including a move not to renew Chevron Corp’s ( CVX.N ) Continue Reading
U.S. Oil Majors Are Snubbing Climate-Conscious Rivals in Europe
Don’t count on America’s oil giants to join their rivals across the pond in ambitious efforts to cut carbon dioxide emissions. On Thursday, Exxon Mobil Corp. Chief Executive Officer Darren Woods dismissed the Continue Reading
U.S. oil boom vs Europe’s renewables focus? Big Oil’s gap widens — in words
Exxon and Chevron boasted to investors this week about booming U.S. oil production, illustrating how the gap has widened – at least in words – between top American oil and Continue Reading