Occidental vies to be 'last one standing' in warming world

Occidental Petroleum Corp. completed its $38 billion acquisition of Anadarko Petroleum Corp. yesterday, wrapping up the biggest oil and gas merger in the United States since Exxon took over Mobil Corp. two decades ago. The deal announced by the company is set to make Occidental the third- or fourth-biggest U.S. oil producer, pumping the equivalent of 1.3 million barrels of crude a day. But it comes at a time when even the biggest oil companies are under increasing pressure from shareholders and climate change activists to diversify out of oil production and reduce greenhouse gas emissions. Oil giants themselves have acknowledged that demand for their product will peak at some point as the worldwide transition to electrified transportation and renewable power generation continues (Energywire, Aug. 5). Read Full Article - Energywire, August 9, 2019