Occidental will quit troubled regional markets to cut costs | The National:
"Occidental Petroleum plans to step back from troubled regional markets by the end of the year as it seeks to cut costs and focus its portfolio on three key markets in the Middle East, according to the company’s new chief executive.
Vicki Hollub, who will take over as chief executive of Occidental in April, said that the Houston-based firm would focus on three areas in the Middle East, including Abu Dhabi, Oman and Qatar, as well as Colombia and the Permian Basin in Texas.
“Getting the portfolio the way that we want means that we can work on lowering our cost structure that will help optimise what we are doing,” she said."
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