Oman assets in Oxy’s MENA region minority interest sale | Oman Observer:
"US-based international energy producer Occidental Petroleum Corporation (OXY) announced at the weekend plans to pursue the sale of a minority interest in its Middle East/North Africa operations, which includes, among other things, interests in Blocks 9, 27, 53 and 62 in the Sultanate of Oman. The move, it said in a statement, stems from the Company’s “strategic review to streamline and focus operations in order to better execute the Company’s long-term strategy and enhance value for shareholders”. “These are the first formal steps in our effort to streamline the business, concentrate in areas where we have depth and scale and improve overall profitability. Our goal is to become a somewhat smaller company with more manageable exposure to political risk,” said Stephen I. Chazen, President and Chief Executive Officer. “We will continue to consider additional strategic alternatives for the Company to maximise total returns to our shareholders.”"
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