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Occidental Petroleum Corporation Message Board

  • bigoilmanjohn bigoilmanjohn Nov 11, 2013 10:37 AM Flag

    Todays Motley Fool article

    OXY's exit from the Middle East is more of a push from institutional investors, than a stategic move by OXY management. Interesting how the financial press can twist things.

    Sentiment: Strong Buy

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    • Investors were involved in expressing their displeasure with the status quo when they gave Irani the boot. The restructuring was long overdue, with too much risk in it's exposure in the Middle East. Question is will the big holders be happy with what is happening now. It takes time to dispose of assets and get fair value. Some of these E&P's had more leasehold property than they could possibly develop even in the intermediate future. Institution investors may have made some recommendations to Chazen; however, the company is going to do what makes sense from an operations & financial perspective. Personally I am not in a hurry because I think that over the next 1, 3 and 5 years we continue to go higher.

      My biggest problem is why operations were so poor for so long, when they just started to turn it around recently and pretty quickly. They have ben wasting resources due to bad management. That is inexcusable.

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