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Oxy clears California spinoff

Occidental Petroleum said on Thursday its board of directors has approved the spin-off of its California oil and natural gas business to its shareholders.

The logo on the Occidental Petroleum building fronts Wilshire Boulevard in the Westwood district of Los Angeles, Monday, July 23, 2007. Oil producer Occidental Petroleum Corp. on Tuesday, July 24, 2007 said profits rose 64 percent in the second quarter on gains from the sale of noncore assets. (AP Photo/Kevork Djansezian)
The logo on the Occidental Petroleum building fronts Wilshire Boulevard in the Westwood district of Los Angeles, Monday, July 23, 2007. Oil producer Occidental Petroleum Corp. on Tuesday, July 24, 2007 said profits rose 64 percent in the second quarter on gains from the sale of noncore assets. (AP Photo/Kevork Djansezian)
  • Reuters
Published 2 October 2014, 23:06Updated 11 October 2016, 16:00