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OXY-OCCIDENTAL PETROLEUM CORP

Occidental Petroleum and Ecopetrol Renew Joint Venture in Permian Basin with $880 Million Investment Plan

Saturday

15 February, 2025

Occidental Petroleum's renewed partnership with Ecopetrol signals a bold $880 million investment aimed at boosting production in the Permian Basin. With plans to drill 91 wells by 2025, can this collaboration navigate the challenges of stock volatility and regulatory changes while maintaining investor confidence?

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Key Takeaways
  • Occidental Petroleum's collaboration with Ecopetrol aims to boost output in the Permian Basin.
  • The partnership involves significant investment and an ambitious drilling plan through 2025.
  • Strong backing from notable investors enhances market confidence in Occidental's prospects.
  • The company's emphasis on carbon capture aligns with future environmental standards, offering growth potential.
  • Anticipation for the Q4 earnings report suggests possible resilience despite expected revenue drops.
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