Hints and tips:
...BlackRock is set to invest $550mn into the world’s biggest direct air capture project, which is being developed by Occidental Petroleum, in a sign of growing investor confidence in the nascent technology...
...Scott Bok, chief executive of boutique investment bank Greenhill & Co, stepped down as chair of the university’s board moments later....
...The world’s largest money manager has used generative AI to construct a “co-pilot” for its Aladdin and eFront risk management systems....
...Granholm has cheered on Occidental Petroleum’s plans to deploy direct air capture technology, which sucks CO₂ from the atmosphere to be stuffed underground, in the oilfields of west Texas....
...Its 25 per cent stake in Occidental Petroleum means part of the oil company’s profits are reported on Berkshire’s income statement....
...Olczak says he borrowed the name for PMI’s “beyond nicotine” strategy from BP’s “beyond petroleum” tagline following a dinner with former BP chief executive John Browne....
...Woodside Petroleum completed a merger with BHP’s oil and gas business this year, while Santos merged with rival Oil Search in a A$21bn deal last year....
...That includes Occidental Petroleum, whose debt pile increased by more than $28bn to almost $39bn in 2019 when it beat Chevron in a bidding war to buy Anadarko, another shale producer, just months before...
...For example, South Korean peers S-Oil and SK Innovation operate plants with the latest crude oil processing technologies that produce cleaner petroleum products....
...The capacity of a plant planned by Occidental Petroleum in the Permian Basin will be 250 times bigger, capable of removing 1mn tonnes of CO₂ a year....
...It amounts to a “pretty phenomenal outcome”, said Matt Portillo, head of research at investment bank Tudor, Pickering, Holt & Co....
...The prices of energy, petrol and petroleum-based agricultural inputs shot up earlier this year when western nations imposed sanctions on Russia after the invasion....
...Warren Buffett’s Berkshire Hathaway disclosed late on Wednesday that it had purchased a stake in computer and printer maker HP Inc worth $4.2bn, the latest sign that the sprawling conglomerate and its billionaire...
...Disclosures in the preceding days also showed Berkshire had built a stake worth about $8bn in the oil producer Occidental Petroleum’s common stock....
...Hours later, the company’s co-chief executive Maximilian Rienecker and three other board members resigned....
...Go deeper Soaring energy prices are reviving the US shale oil industry and yesterday Whiting Petroleum and Oasis Petroleum, two US shale oil producers, agreed a $6bn merger....
...“China are not really easy competitors for western industries,” said Bernd Schneider, global co-head of chemicals at US investment bank Stifel....
...Japan is also moving to hold talks with Indonesia, Thailand, Malaysia and other Asean countries to enter into similar co-operative agreements....
...“This is an isolated incident, and we have temporarily disabled the impacted accounts while we work in co-operation with our customer, who is working with law enforcement,” it added....
...A version of this article was first published by Nikkei Asia on November 30 2021. ©2021 Nikkei Inc....
...Japanese retail giant Seven & i Holdings agreed to buy the business — which owns about 3,900 petrol stations and convenience stores — from Marathon Petroleum in an all-cash deal last August as it looked...
...A version of this article was first published by Nikkei Asia on October 11 2021. ©2021 Nikkei Inc....
...Dahl co-led Sidley Austin’s private equity practice and Iwasko was co-head of the firm’s European corporate and private equity group....
...DD’s James Fontanella-Khan takes us through how a mega-deal at Occidental Petroleum took a turn for the worse in this M&A tale....
...Its financing of Occidental Petroleum has also left something to be desired; the warrants it received in the transaction now look worthless....
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