ADVFN - Advanced Financial Network.
HOME» NYSE » O » OXY Stock Price » OXY Stock News

Occidental Pet Share News

 Occidental Petroleum Corp Stock Price
OXY Stock Price
 Occidental Petroleum Corp Stock Chart
OXY Stock Chart
 Occidental Petroleum Corp Stock News
OXY Stock News
 Occidental Petroleum Corp Company Information
OXY Company Information
 Occidental Petroleum Corp Stock Trades
OXY Stock Trades

Suncor, Total May Not Proceed With New Oil-Sands Mines

By Edward Welsch CALGARY, Alberta--Suncor Energy Inc. (SU) said Wednesday a shift in oil-production trends in North America has it reviewing the business case for constructing two new oil-sands mines and an upgrader with French energy giant Total SA (TOT). "In principle there is the opportunity not to progress" the Joslyn and Fort Hills oil-sands mines and the Voyageur upgrader, Suncor Chief Executive Steve Williams said on a conference call with investors. "We're reviewing the scope and we're looking at the profitability of those projects as we speak," he said. The Joslyn mine is expected to cost between 7 billion Canadian dollars (US$6.86 billion) and C$9 billion to build. Mr. Williams said the amount of new light oil produced in North America - from reservoirs such as the Bakken in North Dakota and Saskatchewan and new shale-oil reservoirs in the U.S. - had changed the market for the upgraded light oil that the projects with Total would produce. "The continental balance has changed," Mr. Williams said. "So if you look at when we approved that project a number of years ago, the mid-continent light, sweet crudes weren't being produced," he said. Suncor owns a 36.75% stake in the Joslyn mine, which is expected to produce 100,000 barrels a day as soon as 2017, with Total holding a 38.25% stake, Occidental Petroleum Corp. (OXY) holding a 15% stake and Inpex Corp. (1605.TK) holding a 10% stake. Suncor owns a 40.8% stake in the Fort Hills mine, which could produce up to 160,000 barrels a day starting in 2016. Total owns 39.2% of the project and Teck Resources Ltd. (TCK) owns 20%. Write to Edward Welsch at Subscribe to WSJ:

Stock News for Occidental Pet (OXY)
10/27/201615:56:49Statement of Changes in Beneficial Ownership (4)
10/20/201614:56:29Statement of Changes in Beneficial Ownership (4)
10/17/201609:00:00Occidental Petroleum 3rd Quarter Results to be Announced Tuesday...
10/13/201617:45:54Statement of Changes in Beneficial Ownership (4)
10/13/201617:37:04Statement of Changes in Beneficial Ownership (4)
10/06/201615:10:16Statement of Changes in Beneficial Ownership (4)
10/06/201613:40:00Occidental Petroleum Announces Dividend
09/29/201615:38:45Statement of Changes in Beneficial Ownership (4)
09/26/201610:00:00Williams Unveils More Board Changes
09/22/201616:03:02Statement of Changes in Beneficial Ownership (4)
09/15/201617:45:01Statement of Changes in Beneficial Ownership (4)
09/08/201614:44:29Statement of Changes in Beneficial Ownership (4)
09/01/201615:51:04Statement of Changes in Beneficial Ownership (4)
08/31/201612:51:00Correction to Tuesday's Maxus Energy Story
08/30/201615:47:00Maxus Energy Defends Environmental Settlement With Parent
08/25/201615:13:35Statement of Changes in Beneficial Ownership (4)
08/18/201615:46:15Statement of Changes in Beneficial Ownership (4)
08/15/201621:40:00YPF Can Finance Maxus' Bankruptcy Plan, Judge Says
08/11/201616:03:36Statement of Changes in Beneficial Ownership (4)
08/04/201617:46:45Statement of Changes in Beneficial Ownership (4)

Occidental Pet and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations