December 2010 Vol. 237 No. 12

Projects

Occidental Petroleum to Divest Argentine Assets, Purchase New U.S. Assets, Increase Dividend

Occidental Petroleum Corporation today announced it has executed an agreement with a subsidiary of China Petrochemical Corporation (Sinopec) to sell Occidental’s Argentine oil and gas operations for after-tax proceeds of approximately $2.5 billion. Occidental also announced that it had executed agreements to purchase oil and gas properties in South Texas and North Dakota for about $3.2 billion. Additionally, Occidental announced that it has signed an agreement to increase its General Partner ownership in Plains All-American to approximately 35 percent; and it has agreed to acquire the remaining 50 percent joint venture interest in the Elk Hills Power Plant. Occidental ex

Log in to view this article.

Not Yet A Subscriber? Here are Your Options.

1) Start a FREE TRIAL SUBSCRIPTION and gain access to all articles in the current issue of Pipeline & Gas Journal magazine.

2) SUBSCRIBE to Pipeline & Gas Journal magazine in print or digital format and gain ACCESS to the current issue as well as to 3 articles from the PGJ archives per month. $199 for an annual subscription*.

3) Start a FULL ACCESS PLAN SUBSCRIPTION and regain ACCESS to this article, the current issue, all past issues in the PGJ Archive, access to all special reports, special focus supplements and more. $1,395 for an annual subscription.  For information about group rates or multi-year terms, contact J'Nette Davis-Nichols at Jnette.Davis-Nichols@GulfEnergyInfo.com or +1 713.520.4426*.

 

 

*Access will be granted the next business day.

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}