Tuesday 2 March 2021
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todayonline - 6 days ago

Occidental does not anticipate growing production at least this year - CEO Hollub

The impact of severe winter storms in Texas last week that shuttered oil production in the top U.S. oil field are temporary and not expected to affect oil output for 2021, Occidental Petroleum Corp executives told analysts on Tuesday. The 25,000-barrel-per-day impact on Occidental s Permian Basin will be short-lived, Occidental Chief Financial Officer Robert Peterson said on a call with analysts following the company s release of fourth-quarter earnings late on Monday. Occidental does not anticipate growing global production at least this year, said Chief Executive Vicki Hollub, adding that the company will not increase capital spending even if oil prices improve further. REUTERS


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