Occidental’s $8 Billion Deal Stalled by Brotherhood Row - Bloomberg:
"Occidental Petroleum Corp., (OXY) seeking to raise as much as $8 billion by selling a stake in its Middle East business, said a political dispute in the region is complicating plans to sell to a single investor group.
The oil and gas producer may need to break up the assets and sell them to individual countries because political tensions has made it too complicated to win agreement for a single sale to a group made up of Oman, the United Arab Emirates and Qatar, Chief Executive Officer Steve Chazen told investors at the Howard Weil Energy Conference in New Orleans yesterday.
“The notion that they were going to somehow cooperate with each other in an oil investment is difficult at best right now,” Chazen said. “At their suggestions, we’ll probably make separate deals with the three countries with somewhat different assets in each one. In some ways, that’s a lot simpler.”"
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