April 26, 2012 |
Occidental Petroleum Corp., the nation's fourth-largest oil company, saw a slight increase in first-quarter profits compared to a year ago and set records in oil and natural gas production, the company said in a news release Thursday. The Westwood-based company said it generated a net profit of $1.56 billion in the first quarter, or $1.92 a share. That compared to the 2011 results of $1.55 billion and $1.90 a share. Sales jumped to $6.27 billion compared to $5.73 billion a year earlier.
March 21, 2012 |
Occidental Petroleum Corp. reaped a bigger profit in 2011 — and the energy company reduced its new chief executive's compensation. Stephen I. Chazen, who took over the chief executive job in May from Ray R. Irani, received a compensation package worth $31.7 million last year, compared with $38.1 million in 2010 when he was president, the Westwood energy company said in a Securities and Exchange Commission filing Tuesday. After years of shareholder criticism about how much Occidental paid its top officers, the fourth-largest U.S. oil company decided in 2010 to change how it determined executives' payout to make it more difficult to receive maximum compensation.
CALIFORNIA | LOCAL
March 4, 2012 |
After Benedict Freedman and his wife, Nancy, turned the true-life adventure of a teenager who married a Canadian Mountie into the bestselling 1947 novel "Mrs. Mike," one reviewer theorized that the couple partly based the book's happy marriage on their own. The Freedmans collaborated well into their 80s, writing 10 books that included two late-in-life sequels to "Mrs. Mike," which is still in print. It has appeared in 27 foreign editions and received the Hollywood treatment in a 1949 film of the same name starring Evelyn Keyes and Dick Powell.
January 26, 2012 |
Occidental Petroleum Corp. kicked off what was expected to be a parade of healthy earnings reports for the oil industry, announcing a fourth-quarter profit gain of 35% on the strength of high oil prices and record U.S. crude production. Occidental's fourth-quarter net income of $1.6 billion, or $2.01 a share, compared with $1.2 billion, or $1.49 a share, in the same quarter of 2010. Occidental's revenue jumped 19% for the quarter to $6 billion. Analysts polled by Thomson Reuters had been expecting earnings of $1.95 a share and sales of $5.8 billion.
CALIFORNIA | LOCAL
August 4, 2011 |
Former Occidental College quarterback Andy Collins, a three-time Southern California Intercollegiate Athletic Conference offensive player of the year, has died of an apparent heart attack. He was 27. Collins died Tuesday at Imperial Point Medical Center in Fort Lauderdale, Fla., according to the Broward County medical examiner's office. The cause of death is pending an investigation, although Collins reportedly had been working out on a treadmill just before his death. Ten days earlier, he had married Brooke Olzendam, a college football reporter for CBS. A transfer from the University of Oregon, Collins played at Occidental in Los Angeles from 2004 to 2006 and had an immediate effect.
July 27, 2011 |
Occidental Petroleum Corp. rode a wave of higher oil prices to a second-quarter profit of $1.82 billion, up 71% from the same period last year, the company said Tuesday. The Westwood oil exploration and production company was among the first in the industry to announce quarterly results, which included earnings per share of $2.23, compared with $1.31 a year earlier. The results beat Wall Street expectations of $2.17 a share, according to a survey of analysts by Thomson Reuters.
June 22, 2011 |
A clutch of city officials and film industry promoters gathered on the same lot in east Hollywood where Mary Pickford once worked to celebrate a rare occurrence: the opening of a new soundstage in Los Angeles. Occidental Entertainment Group Holdings, the Hollywood owner of a dozen local soundstages and other entertainment businesses, unveiled a 14,000-square-foot, 54-foot-high soundstage Monday on the historic lot, along with 6,000 square feet of office space and hair, makeup and dressing rooms.
April 29, 2011 |
Occidental Petroleum Corp. rode a wave of higher oil prices to one of the best quarterly earnings performances since 2008. The Westwood company said Thursday that it earned $1.55 billion in the first quarter, or $1.90 a share, up nearly 46% from the same period last year. Revenue rose more than 24% to $5.73 billion. Also Thursday, Exxon Mobil Corp. posted first-quarter net income of $10.65 billion, up 69%. Royal Dutch Shell reported $8.78 billion in first-quarter profit, up 60%. Occidental said it got $92.14 a barrel for its oil during the first quarter of 2011, compared with $74.09 per barrel for the first quarter of 2010.
March 24, 2011 |
The pay of Occidental Petroleum Corp.'s outgoing Chief Executive Ray Irani, who was the highest-paid energy CEO in 2009, more than doubled last year to $76.1 million. Irani's pay included $40.3 million in stock awards and $31.6 million in cash incentives, according to a filing with the Securities and Exchange Commission. His total compensation from Occidental, the largest onshore crude producer in the continental U.S., was $31.4 million for 2009. Occidental, based in Los Angeles, announced in October that Irani, 76, would take a pay cut and retire this year in the wake of shareholder complaints about his earnings.