UPDATE 1-Occidental favours re-establishing dividends over production growth - CEO
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HOUSTON, Oct 7 (Reuters) - U.S. oil and gas producer Occidental wants to raise margins and re-establish dividend payments for its shareholders rather than focus on growing its production volumes, Chief Executive Vicki A. Hollub said on Thursday.
Oil companies can best contribute to the energy transition by producing just enough oil to meet demand in a way that is more efficient and produces fewer emissions, the CEO said.
"We don't see that in 2022 and beyond that we need to grow significantly," Hollub said at an online event by the Energy Intelligence Forum.
"Our growth in the period, and maybe over the next ten years, will more be to reestablish dividend and grow that dividend". (Reporting by Sabrina Valle; Editing by Jan Harvey)
