Oil companies worldwide have been trying to increase production, but are struggling to balance increases without undercutting shareholder returns, Occidental Petroleum OXY.N Chief Executive Officer Vicki Hollub said on Wednesday. Energy companies are under pressure to increase output and stem the tide of inflation and fuel shortages. Executives have faced criticism for not quickly responding .
The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.
Warren Buffett’s Berkshire Hathaway Inc. snapped up 18.1 million additional shares of Occidental Petroleum Corp., giving the conglomerate a 14.6% stake in the oil giant.
U.S. oil producer Occidental Petroleum Corp will increase dividend payments to shareholders once it gets debt levels to $25 billion, Chief Executive Vicki Hollub said on Friday.