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 [...]

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 [...]

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.

Occidental Petroleum Corp., the fourth-largest U.S. oil company, said fourth-quarter profit fell 19 percent on lower oil and natural gas prices.
Net income fell to $928 million, or $1.09 a share, from $1.15 billion, or $1.40, a year earlier, Los Angeles-based Occidental said in a statement today. The company was expected to earn $1.04 a share, [...]

Oil and gas explorer Occidental Petroleum Corp. said Tuesday it began a cash tender offer for $1.09 billion of its debt securities.
The securities include Occidental Petroleum’s 10.125 percent senior debentures due 2009, 9.25 percent senior debentures due 2019, 8.75 percent senior notes due 2023, 7.2 percent senior debentures due 2028 and 8.45 percent senior notes [...]

Petroleo Brasileiro SA, Bolivia’s biggest foreign investor, and Repsol-YPF SA agreed to the South American nation’s new energy law, pledging to search for more natural gas deposits.
Petrobras and Repsol were among eight companies that early today signed agreements with the Bolivian government, adding to accords with Total SA and Occidental Petroleum Corp. yesterday.
“The other option [...]

Oil and gas producer Occidental Petroleum Corp. said Wednesday its third-quarter earnings fell 33 percent from year-ago results that included hefty one-time gains.
The latest results were just above Wall Street estimates, however.
“Sharply higher crude oil prices and a strong performance from our chemicals business were key drivers in our financial performance in the quarter,” said [...]