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Stock Market & Financial Investment News

News Breaks
February 14, 2013
18:25 EDTOXYOccidental Petroleum forms search committee for CEO succession process
Occidental Petroleum announced that as part of the company's succession planning process, the Board has formed a search committee to undertake a review of internal and external candidates to succeed President and CEO, Stephen I. Chazen, with the assistance of a leading executive search firm. The company has not set a timetable for completion of the search. As previously announced, Dr. Ray R. Irani, who continues to serve as Executive Chairman, will retire at the end of 2014. "Succession planning and best corporate governance practices have been a high priority for the Board over the past number of years," said Director Margaret Foran. "We look forward to a thoughtful and smooth process that will yield the best result for Oxy and all of its constituencies.
News For OXY From The Last 14 Days
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September 17, 2014
12:42 EDTOXYOccidental in discussions to sell Dolphin Energy stake to Mubadala, WSJ says
Occidental Petroleum is in discussions to sell at least 20% of its 24.5% stake in Dolphin Energy to Mubadala, The Wall Street Journal reports, citing people familiar with the matter. Occidental could complete the sale before the end of the year, and Mubadala is eager to do the deal and they may want to buy Occidental's entire stake, the people added. Occidental is also in discussions to sell up to 30% of its stake in the Shah natural gas project to Mubadala. Reference Link
September 16, 2014
09:59 EDTOXYOn The Fly: Analyst Downgrade Summary
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05:36 EDTOXYOccidental Petroleum downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Occidental Petroleum to Equal Weight saying the company's restructuring could disappoint. The firm believes Occidental's U.S. onshore assets are unlikely to attract a premium and it lowered its price target for shares to $109 from $117.
September 15, 2014
13:51 EDTOXYOccidental chemical unit to pay $190M in Passaic River cleanup, Bloomberg says
According to New Jersey state officials, Occidental Petroleum's chemical unit agreed to pay $190M to cover its liability in the cleanup of industrial contamination in the Passaic River in New Jersey, says Bloomberg Businessweek. Reference Link

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