Manas Petroleum Corp., a Baar, Switzerland based company, today announces its wholly owned subsidiary, DWM Petroleum AG, has signed a Production Sharing Contract (PSC) for Blocks 2 and 3 in Albania. The blocks cover approximately 3,400 km2 (approximately 850,000 acres). The Albanian government was represented by Mr. Genc Ruli the Minister of Economy, Trade and [...]

Plains All American Pipeline, L.P. (NYSE:PAA) announced that a wholly owned subsidiary of Occidental Petroleum Corporation (“OXY”), has entered into definitive agreements to acquire an aggregate 10% equity interest in the general partner of PAA directly from the existing owners. Closing is expected to occur within the next 30 to 45 days and is subject [...]

Occidental Petroleum Corporation announced an agreement with SandRidge Energy to develop a West Texas hydrocarbon gas processing plant and related pipeline infrastructure that will provide carbon dioxide (CO2) for use in Oxy’s enhanced oil recovery (EOR) projects. The new CO2 resources are expected to expand Oxy’s Permian production by a minimum of 50,000 barrels [...]

Occidental Petroleum Corp. signed an agreement with Enerplus Resources Fund to buy a 15 percent interest in Alberta’s Joslyn Oil Sands Project for $492.1 million.
Operated by Total, the oil sands project holds over 8 billion barrels of bitumen or heavy crude. Occidental’s net recoverable reserves are estimated at 370 million barrels.
While the project is [...]

Qatar Petroleum Corp. will invest or is negotiating investments abroad worth $20 billion, including a $7 billion oil refinery in Panama with Occidental Petroleum Corp., Qatar’s energy minister said.
Qatar Petroleum International, the state-owned company’s foreign investment arm, has “teamed up” with Occidental to build a 350,000 barrel-a-day oil refinery in the Central American country, Abdullah [...]

A regulatory filing shows the top executive at Occidental Petroleum received compensation in 2006 that the company valued at 52-point-eight (m) million dollars.
Ray Irani, the company’s chairman, president and C-E-O, received a salary of one-point-three (m) million dollars, a cash bonus of one-point-four (m) million and four-point-six (m) million in incentives and other compensation.
Most of [...]

Occidental Petroleum Corp. on Thursday announced a regular quarterly dividend of 22 cents per share.
The Los Angeles-based company will pay the dividend April 15 to shareholders of record March 9.

Crude oil dropped on speculation that supplies from OPEC and other producers are sufficient to meet increased heating demand caused by a cold snap in the U.S.
Temperatures in the U.S. Northeast, where 80 percent of the nation’s heating oil is consumed, will be below normal through Feb. 21, the National Weather Service said. OPEC may [...]

BAKERSFIELD - The fire that began by explosions at the Occidental Petroleum is now almost completely out.
The initial explosion occurred Tuesday just after 2 p.m.
The Occidental Petroleum lease at Elk Hills is located just off Highway 119 between Interstate 5 and Taft.
The fire erupted after a natural gas leak caused an explosion in one of [...]

Oil and gas producer Occidental Petroleum Corp. said Monday its worldwide proved reserves rose by about 12 percent in 2006.
The company said its reserves worldwide increased to 2.87 billion barrels of oil equivalent (BOE) from 2.57 billion BOE in 2005.
Occidental Petroleum also said it spent $8.83 billion on acquisitions, exploration and development in 2006.