Doug Leggate News
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Occidental Petroleum Corp.’s proposal to split its U.S. and foreign businesses is pressuring more oil companies to follow suit, as the allure of breakups to create more than $100 billion of market value entices investors.
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Plains Exploration & Production Co. shareholders are anticipating positive results from an oil well discovery, stoking bets that Freeport-McMoRan Copper & Gold Inc. will be forced to boost its takeover bid.
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Exxon Mobil Corp. is trailing its rivals ever since Russell Investments labeled it a growth stock.
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Hess Corp.’s shareholder revolt is taking aim at long-time directors with close ties to the company’s founding family, including two executors of the estate of Leon Hess, who led the oil producer for six decades.
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Ethanol’s discount to gasoline narrowed to the lowest in more than a week as the motor fuel plunged and as the value of renewable identification numbers, or RINs, for biofuel blending was near a record.
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Occidental Petroleum Corp. , the oil explorer that pumps enough crude to fill a supertanker every four days, is leading a rush to find crude on land as BP Plc’s Gulf of Mexico disaster spurs tougher offshore-drilling rules.
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Occidental Petroleum Corp., the fourth-largest U.S. oil company, fell after reporting it isn’t increasing the number of drilling rigs in California, where analysts said production was “a disappointment.”
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Bank of America Corp. dismissed Steven Milunovich and two other energy analysts as the lender seeks to trim expenses in its investment bank, said two people with knowledge of the moves.
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Occidental Petroleum Corp.’s oil and natural-gas output may fall this year for the first time since 2005 because it can’t get the permits it needs for new drilling projects in California.
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