net_left adver left
Detail

Occidental to cut debt and distribute cash, won't raise oil output

By Sabrina Valle HOUSTON (Reuters) -Occidental Petroleum Corp plans to use the bonanza from high oil and gas prices to accelerate debt payments and cash distribution to...
Occidental to cut debt and distribute cash, won't raise oil output © Reuters. FILE PHOTO: Equipment used to process carbon dioxide, crude oil and water is seen at an Occidental Petroleum Corp enhanced oil recovery project in Hobbs, New Mexico, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File Photo

By Sabrina Valle

HOUSTON (Reuters) -Occidental Petroleum Corp plans to use the bonanza from high oil and gas prices to accelerate debt payments and cash distribution to shareholders but will not raise oil production, Chief Executive Vicki Hollub said on Wednesday.

White House officials have been urging oil producers to invest in more oil production to bring fuel prices down to consumers. The top oil producers in the U.S. and Europe posted record earnings in the second quarter, but kept a check on investments.

Occidental (NYSE:OXY) on Tuesday posted higher than expected earnings in the second quarter, but cut its 2022 output outlook for the main unconventional basin in the United States, knocking its shares down more than 6% to close at $60.99.

The company also said it resumed a buyback program after reaching its short-term debt reduction goals in the second quarter. With a cleaner balance sheet, the U.S. oil producer said it can now slightly raise dividends and sustain stock repurchases "over the next few years".

Occidental also said it wants to accelerate a three-year target to bring debt down to $15 billion, from more than $21 billion now. Investment targets were unchanged.

"We don't feel the need to grow production until we get beyond that point," Hollub told analysts on a webcast to discuss second quarter earnings. "Because we feel like one of the best values right now is investment in our own stock."

United Nations Secretary-General Antonio Guterres on Wednesday slammed the "grotesque greed" of oil companies, urging governments globally to "tax these excessive profits" to support the most vulnerable people.

The Permian basin this year should deliver around 521,000 barrels of oil equivalent per day (boed) for the company, from around 532,000 boed projected in May, it said.

The reduction follows third party processing issues and a partial Permian production transfer to Colombian oil producer Ecopetrol, with whom Occidental signed a joint venture.

Total 2022 production outlook was kept stable at around 1.55 million boed, with higher production in the Rockies and the Gulf of Mexico basins offsetting losses in the Permian.

HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
17-08-2022 23:19:31 (UTC+7)

EUR/USD

1.0167

-0.0003 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

EUR/USD

1.0167

-0.0003 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

GBP/USD

1.2039

-0.0054 (-0.45%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (6)

Sell (3)

USD/JPY

135.45

+1.24 (+0.92%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (0)

AUD/USD

0.6920

-0.0103 (-1.46%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (2)

USD/CAD

1.2923

+0.0079 (+0.62%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

EUR/JPY

137.71

+1.22 (+0.89%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

EUR/CHF

0.9699

+0.0045 (+0.47%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

Gold Futures

1,775.45

-14.25 (-0.80%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (4)

Silver Futures

19.672

-0.413 (-2.06%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (4)

Copper Futures

3.5808

-0.0437 (-1.21%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Crude Oil WTI Futures

87.03

+0.50 (+0.58%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (1)

Brent Oil Futures

92.61

+0.27 (+0.29%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (4)

Natural Gas Futures

9.227

-0.102 (-1.09%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (1)

US Coffee C Futures

217.55

-1.80 (-0.82%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Euro Stoxx 50

3,756.06

-49.16 (-1.29%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (4)

S&P 500

4,262.80

-42.40 (-0.98%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (11)

Sell (0)

DAX

13,626.71

-283.41 (-2.04%)

Summary

Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (3)

FTSE 100

7,515.75

-20.31 (-0.27%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (4)

Hang Seng

19,922.45

+91.93 (+0.46%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (4)

US Small Cap 2000

1,977.50

-42.76 (-2.12%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (2)

IBEX 35

8,434.80

-77.10 (-0.91%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

Sell (1)

BASF SE NA O.N.

42.685

-2.065 (-4.61%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

Bayer AG NA

53.37

-0.93 (-1.71%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (3)

Allianz SE VNA O.N.

177.54

-2.40 (-1.33%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Adidas AG

169.10

-4.26 (-2.46%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (8)

Deutsche Lufthansa AG

6.467

-0.280 (-4.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Siemens AG Class N

108.64

-3.40 (-3.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Bank AG

8.856

-0.108 (-1.20%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (3)

 EUR/USD1.0167↑ Sell
 GBP/USD1.2039Neutral
 USD/JPY135.45↑ Buy
 AUD/USD0.6920↑ Buy
 USD/CAD1.2923↑ Sell
 EUR/JPY137.71Neutral
 EUR/CHF0.9699Neutral
 Gold1,775.45Sell
 Silver19.672Sell
 Copper3.5808Sell
 Crude Oil WTI87.03↑ Buy
 Brent Oil92.61Neutral
 Natural Gas9.227Neutral
 US Coffee C217.55↑ Sell
 Euro Stoxx 503,756.06Sell
 S&P 5004,262.80↑ Buy
 DAX13,626.71Sell
 FTSE 1007,515.75Neutral
 Hang Seng19,922.45Neutral
 Small Cap 20001,977.50↑ Buy
 IBEX 358,434.80Neutral
 BASF42.685Neutral
 Bayer53.37Neutral
 Allianz177.54Buy
 Adidas169.10↑ Sell
 Lufthansa6.467↑ Sell
 Siemens AG108.64↑ Sell
 Deutsche Bank AG8.856Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,600/ 6,700
(20/ 20) # 1,674
SJC HCM6,620/ 6,720
(20/ 20) # 1,695
SJC Hanoi6,620/ 6,722
(20/ 20) # 1,697
SJC Danang6,620/ 6,722
(20/ 20) # 1,697
SJC Nhatrang6,620/ 6,722
(20/ 20) # 1,697
SJC Cantho6,620/ 6,722
(20/ 20) # 1,697
Cập nhật 17-08-2022 23:19:33
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,762.17-13.51-0.76%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI$86.53+0.090.10%
Brent$92.12+0.280.31%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.235,0023.545,00
EUR23.186,9924.485,46
GBP27.597,2628.774,17
JPY169,51179,46
KRW15,4518,83
Cập nhật lúc 18:50:59 17/08/2022
Xem bảng tỷ giá hối đoái
adver main right