Has continued: "Low prices have reduced investments in the sector and this decline is what caused the gap that exists today between supply and demand, which we are now working to close.".
Occidental Petroleum CEO Vicki Hollub said: "We have been meeting for about five years at the CEO Forum at the industry level and are trying to find solutions to the problems facing the energy sector, so we as an industry are trying to do everything we can to make sure we are part of the energy transition.".
And she was "Western oil" The US announced that it reduced its debt and resumed a share buyback program, after posting a second quarter earnings increase, supported by rising crude oil prices.
Net income attributable to ordinary shareholders was $ 3.6 billion, or $ 3.47 per share, in the second quarter, compared with a loss of $ 97 million, or ten cents per share, in the same period of the year. last.
Recall that the company "Berkshire Hathaway"belonging to billionaire Warrn Buffettobtained US regulatory approval to purchase up to 50% of the energy company "Occidental Petroleum Corp", after spending months buying its shares. It has already been announced "Berkshire" Earlier this month, it held 188 million common stock "Western oil" That’s just over 20 percent of the company, and it also owns 10 million preferred stock, as well as the right to buy 83.9 million common stock for $ 5 billion.
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He added, in the margin of MAbu Dhabi International Oil Conference and Presentation ADIPEC 2022“I think the real problem in today’s world is that people don’t really understand what drives the markets. There has been pressure on our industry for many years by investing less than necessary and part of the decline in investment is due to lower prices. in the period 2014-2017. ” “.
He continued: “Low prices have reduced investment in the sector and this decline is what caused the gap that exists today between supply and demand, which we are now working to close.”
Vicki Hollub, CEO of Occidental Petroleum, said: “We have been meeting for almost five years at the CEO Forum at the industry level and are trying to find solutions to the problems facing the energy sector, so we as an industry are trying to do everything possible. to make sure we are part of the energy transition. “
And it wasWestern oilThe US announced it had reduced its debt and resumed a share buyback program, after seeing a second quarter earnings increase, supported by rising crude oil prices.
Net income attributable to ordinary shareholders was $ 3.6 billion, or $ 3.47 per share, in the second quarter, compared with a loss of $ 97 million, or ten cents per share, in the same period of the year. last.
It is said that the companyBerkshire Hathaway‘, affiliated with billionaire Warrn BuffettIt got US regulatory approval to buy up to 50 percent of the energy company, Occidental Petroleum Corp., after spending months buying its shares. And Berkshire announced earlier this month that it owns 188 million shares of Occidental Petroleum, or just over 20% of the company, and that it owns 10 million preferred shares, as well as the right to buy 83.9 million common stock. for $ 5 billion.
