In the News

Occidental Petroleum to Sell Stakes in Middle East, North Africa
The Westwood energy producer seeks to streamline operations and reduce political risk.

Occidental Petroleum Corp. is selling off stakes in Middle East and North Africa oil fields along with other assets in an effort to boost value for shareholders. Amy Myers Jaffe, executive director of energy and sustainability at UC Davis, said that this is in line with industry trends of leaving volatile regions abroad and investing more within the U.S.

“What they are doing is in line with industry trends” of leaving volatile regions abroad and investing more within the U.S., said Amy Myers Jaffe, executive director of energy and sustainability at UC Davis. “Over the long term, as events in Libya and Egypt have shown, you can wind up with high geopolitical risks in some projects.”