Occidental Petroleum Corp. praised OPEC and its allies for managing crude markets out of last year s historic crash.
(Bloomberg) Occidental Petroleum Corp. praised OPEC and its allies for managing crude markets out of last year’s historic crash and said the U.S. shale industry is thankful for its efforts.
“They’ve been brilliant in the way they’ve handled it, the way they’ve been doing it,” Chief Executive Officer Vicki Hollub said at a conference hosted by the Texas Independent Producers & Royalty Owners Association Tuesday. “Every U.S. oil and gas company are appreciating their efforts.”
OPEC+ and U.S. shale have been rivals for much of the last decade, with the Americans’ rapid growth eating away at the cartel’s share of the oil market and power to control it. But the U.S. has lost about 2 million barrels a day, or 15% of its production, over the past year and future growth is severely challenged by producers’ diminished access to capital and shareholder
Shale CEO lauds OPECâs efforts to rebalance crude oil markets By Kevin Crowley on 4/7/2021
Oxy drilling crew at work in the Permian basin
HOUSTON (Bloomberg) - Occidental Petroleum Corp. praised OPEC and its allies for managing crude markets out of last yearâs historic crash and said the U.S. shale industry is thankful for its efforts.
âTheyâve been brilliant in the way theyâve handled it, the way theyâve been doing it,â Chief Executive Officer Vicki Hollub said at a conference hosted by the Texas Independent Producers & Royalty Owners Association Tuesday. âEvery U.S. oil and gas company is appreciating their efforts.â
Daily on Energy: Carbon capture industry sees huge boost within reach Print this article
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THE PROMISE FOR CARBON CAPTURE: A top advocate of carbon capture, removal, and storage technologies says President
Joe Biden’s infrastructure plan could offer the industry the long-term certainty it needs to take off.
Biden is outlining the first comprehensive agenda that would both support carbon capture project deployment and finance the buildout of the pipelines needed to carry captured carbon dioxide to where it can be stored underground.
Oxy CEO opposes carbon tax plans, in contrast to API and rival operators By Kevin Crowley on 4/6/2021
Occidental Petroleum Corp. CEO Vicki Hollub
HOUSTON (Bloomberg) Occidental Petroleum Corp. split with some of its larger rivals in rejecting a U.S. carbon tax, preferring the existing system of tax credits designed to encourage oil companies to store carbon dioxide and reduce emissions.
âA carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,â Occidental Chief Executive Officer Vicki Hollub said at a conference hosted by Texas Independent Producers & Royalty Owners Association Tuesday. âA carbon tax is not what weâre pushing at all.â
Occidental Petroleum Corp. split with some of its larger rivals in rejecting a U.S. carbon tax.
(Bloomberg) Occidental Petroleum Corp. split with some of its larger rivals in rejecting a U.S. carbon tax, preferring the existing system of tax credits designed to encourage oil companies to store carbon dioxide and reduce emissions.
“A carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,” Occidental Chief Executive Officer Vicki Hollub said at a conference hosted by Texas Independent Producers & Royalty Owners Association Tuesday. “A carbon tax is not what we’re pushing at all.”