Occidental plans to separate its California business to form a new company called California Resources Corp. by early next year. The rest of the company will be based in Houston, keeping the Occidental name.
Russian President Vladimir Putin warned that further economic sanctions over the Ukraine crisis may lead Russia to reconsider participation by U.S. and European Union companies in energy and other key industries.
Tuesday’s filing in Delaware is the result of months of wrangling among creditors, owners and management, and represents the failure of a bet that natural-gas prices would rise enough to justify the $48 billion price.
FuelFix.com is your daily must-read source for news and analysis on the energy business. Anchored by business reporters at the Houston Chronicle and other Hearst Newspapers, Fuel Fix incorporates blogs by energy experts, market updates, useful data and a real-time summary of the top ideas, hottest stories and latest news in the oil, gas and energy industries.
Browse previous blog posts by month and year of entry. You'll see all the posts for that time period.