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Occidental Petroleum Hit with Litigation  | Rigzone

Occidental Petroleum Hit with Litigation  | Rigzone

Here are some of Rigzone’s top stories during the last week, just in case you missed them…

Oxy Faces Investor Lawsuit Over Anadarko Acquisition

Occidental Petroleum was hit with litigation by investors who say they lost billions because the company was not transparent about its ability to navigate oil market volatility after shelling out $35.7 billion to buy Anadarko Petroleum last year.

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McDermott Divests Pipe Fabrication Business

Ithaca Acquisition Holdings has completed its acquisition of the former pipe fabrication assets of The Shaw Group from McDermott International. Ithaca revealed that it will rename itself Shaw Acquisitions Holdings.

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Traders Ask Why US Inventory Math Does Not Add Up

Bloomberg reported that various government data sets are signaling that current official figures on at least some supplies are excessive. The math just doesn’t add up, according to Bloomberg.

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Shale Oil Production Bouncing Back With Prices

Early signs of a shale rebound are becoming evident as crude prices rise, according to Bloomberg, which outlined that several companies are eyeing production returns.

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BP America Names New Chairman, President

David C. Lawler, CEO of BPX Energy, will be assuming the responsibilities of chairman and president of BP America Inc from July 1. Lawler will succeed Susan Dio, who is a 36-year veteran of BP and has served as America chairman and president since 2018.

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Here’s What’s Coming

Keep an eye out for these articles on Rigzone later today…

  • Petrofac Win Builds on Decade-long Iraq Presence
  • Enbridge Adds Former Central Banker to Board  
  • New Canada Regulation Aims to Streamline Offshore Permitting 
  • Archer Inks Decomm Contract With Repsol          
  • Syncrude Services Contract Goes to Worley
  • Eni Restructures With Two New Business Groups

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