Occidental Petroleum Issues Statement Regarding Icahn Filing (Seite 2) | Diskussion im Forum
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https://seekingalpha.com/article/4675656-occidental-petroleu…
Occidental Petroleum: Warren Buffett Is Right
Berkshire Hathaway is the largest shareholder in Occidental Petroleum and has no interest in purchasing or managing the company.
Occidental Petroleum had strong 2023 results, with record productivity rates, increased proven reserves, and $5.5 billion in free cash flow.
The company is acquiring CrownRock for $12 billion, which is expected to support lower breakeven and increase cash flow.
Occidental Petroleum is committed to substantial shareholder returns.
The Oracle of Omaha is looking 10 years down the road at a business most investors have never even heard of.
If you own a stake in Occidental Petroleum (OXY -1.11%), then you probably already know Warren Buffett's also a fan. Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) owns nearly 244 million shares of the oil and gas giant... a position that's been steadily added to since 2019 and is now worth a total of $14.5 billion. Buffett even mentioned Occidental's "vast oil and gas holdings" in his recent annual letter to Berkshire shareholders, underscoring the idea that the company is making adequate investments in its future supply of crude and natural gas.
However, there's something else Buffett said about Occidental Petroleum in his recently penned letter that deserves a closer look. He added that Berkshire Hathaway's a fan of the company's "leadership in carbon-capture initiatives [even] though the economic feasibility of this technique has yet to be proven."
The comment begs a couple of questions, the first of which is simply: What the heck is carbon capture?
What's carbon capture?
You likely know that fossil fuels like oil, coal, and to some extent even natural gas aren't exactly environmentally friendly. Namely, using them creates by-products like carbon dioxide (or CO2), which can contribute to global warming.
Just as the name suggests, carbon capture prevents these carbon-based molecules from floating freely in the atmosphere and/or onto the ground.
It's easier said than done. That's why it hasn't really been done to any meaningful commercial degree.
In that technology begets more technology, however, the ability to trap carbon dioxide is not only improving, but approaching the point of being cost-effective. That's important too, since many of the world's top polluters will soon be paying for solutions allowing them to keep their net carbon footprint under control.
And none too soon. The United States' federal government has set a goal of becoming a net-zero emissions country by 2050. That's ambitious to be sure. But it's not out of the realm of possibility if we push the proverbial envelope.
Enter Occidental Petroleum.
Occidental's carbon capture projects
Occidental Petroleum is one of the developers pushing that envelope. It may be pushing it more than any other organization, in fact.
Take its so-called STRATOS project in Ector County, Texas as an example. Although it's not yet up and running, BlackRock has committed $550 million of its own money to the joint venture that is expected to capture up to 500,000 tons of CO2 directly from the atmosphere every year beginning in mid-2025. Amazon and Airbus are just a couple of the companies that have already signed up as eventual paying customers when they're required to reduce their carbon footprint.
That's just the beginning, though. CEO Vicki Hollub feels that this atmospheric carbon capture tech could be licensed out to as many as 1,000 paying customers needing such tools to meet carbon emission requirement mandates in the future.
https://www.fool.com/investing/2024/03/03/warren-buffett-lov…
Occidental Petroleum: Warren Buffett Is Right
Berkshire Hathaway is the largest shareholder in Occidental Petroleum and has no interest in purchasing or managing the company.
Occidental Petroleum had strong 2023 results, with record productivity rates, increased proven reserves, and $5.5 billion in free cash flow.
The company is acquiring CrownRock for $12 billion, which is expected to support lower breakeven and increase cash flow.
Occidental Petroleum is committed to substantial shareholder returns.
The Oracle of Omaha is looking 10 years down the road at a business most investors have never even heard of.
If you own a stake in Occidental Petroleum (OXY -1.11%), then you probably already know Warren Buffett's also a fan. Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) owns nearly 244 million shares of the oil and gas giant... a position that's been steadily added to since 2019 and is now worth a total of $14.5 billion. Buffett even mentioned Occidental's "vast oil and gas holdings" in his recent annual letter to Berkshire shareholders, underscoring the idea that the company is making adequate investments in its future supply of crude and natural gas.
However, there's something else Buffett said about Occidental Petroleum in his recently penned letter that deserves a closer look. He added that Berkshire Hathaway's a fan of the company's "leadership in carbon-capture initiatives [even] though the economic feasibility of this technique has yet to be proven."
The comment begs a couple of questions, the first of which is simply: What the heck is carbon capture?
What's carbon capture?
You likely know that fossil fuels like oil, coal, and to some extent even natural gas aren't exactly environmentally friendly. Namely, using them creates by-products like carbon dioxide (or CO2), which can contribute to global warming.
Just as the name suggests, carbon capture prevents these carbon-based molecules from floating freely in the atmosphere and/or onto the ground.
It's easier said than done. That's why it hasn't really been done to any meaningful commercial degree.
In that technology begets more technology, however, the ability to trap carbon dioxide is not only improving, but approaching the point of being cost-effective. That's important too, since many of the world's top polluters will soon be paying for solutions allowing them to keep their net carbon footprint under control.
And none too soon. The United States' federal government has set a goal of becoming a net-zero emissions country by 2050. That's ambitious to be sure. But it's not out of the realm of possibility if we push the proverbial envelope.
Enter Occidental Petroleum.
Occidental's carbon capture projects
Occidental Petroleum is one of the developers pushing that envelope. It may be pushing it more than any other organization, in fact.
Take its so-called STRATOS project in Ector County, Texas as an example. Although it's not yet up and running, BlackRock has committed $550 million of its own money to the joint venture that is expected to capture up to 500,000 tons of CO2 directly from the atmosphere every year beginning in mid-2025. Amazon and Airbus are just a couple of the companies that have already signed up as eventual paying customers when they're required to reduce their carbon footprint.
That's just the beginning, though. CEO Vicki Hollub feels that this atmospheric carbon capture tech could be licensed out to as many as 1,000 paying customers needing such tools to meet carbon emission requirement mandates in the future.
https://www.fool.com/investing/2024/03/03/warren-buffett-lov…
Warum Buffet Occidental langfristig halten will:
Buffett hob dann die drei Faktoren hervor, die seine Ansicht antreiben, dass Occidental eine unbestimmte Zeit sein könnte: "Wir mögen besonders seine riesigen Öl- und Gasbestände in den Vereinigten Staaten sowie seine Führungsrolle bei CO2-Abscheidungsinitiativen, obwohl die wirtschaftliche Machbarkeit dieser Technik noch nicht bewiesen ist. Beide Aktivitäten liegen sehr im Interesse unseres Landes."
Er stellte fest, dass es noch nicht so lange her sei, dass die USA "beklagenswert von ausländischem Öl abhängig" seien. Dank einer deutlichen Verbesserung der Wirtschaftlichkeit der Schieferbohrungen sind die USA heute jedoch ein wichtiger Ölproduzent. Das bedeutet, dass die OPEC nicht die dominierende Kraft ist, die sie einst auf dem Ölmarkt war, und Occidental spielt eine Schlüsselrolle. Es ist ein großer Ölproduzent geworden, was gut für das Land ist.
Buffett hob auch die Führung von Occidental bei der CO2-Abscheidung hervor. Das Ölunternehmen hat eine lange Geschichte des Einsatzes von Kohlendioxid, um mehr Öl aus alten Feldern zu locken, indem es es in Ölreservoirs injiziert, um den Druck und die Produktion durch einen Prozess zu erhöhen, der als verbesserte Ölgewinnung bekannt ist. Es nutzt jetzt sein Know-how bei der Einspritzung von Kohlendioxid, um von der massiven Kohlenstoffabscheidungs- und Sequestrierungsmöglichkeit zu profitieren. Es entwickelt ein Dekarbonisierungsgeschäft durch den Bau direkter Luftabscheidungsanlagen, die das Treibhausgas aus der Luft ziehen. Es ist die Kommerzialisierung der Technologie, die, wie ihre Ölproduktion, gut für das Land (und die Umwelt) ist.
https://www.fool.com/investing/2024/02/27/like-coca-cola-and…
Buffett hob dann die drei Faktoren hervor, die seine Ansicht antreiben, dass Occidental eine unbestimmte Zeit sein könnte: "Wir mögen besonders seine riesigen Öl- und Gasbestände in den Vereinigten Staaten sowie seine Führungsrolle bei CO2-Abscheidungsinitiativen, obwohl die wirtschaftliche Machbarkeit dieser Technik noch nicht bewiesen ist. Beide Aktivitäten liegen sehr im Interesse unseres Landes."
Er stellte fest, dass es noch nicht so lange her sei, dass die USA "beklagenswert von ausländischem Öl abhängig" seien. Dank einer deutlichen Verbesserung der Wirtschaftlichkeit der Schieferbohrungen sind die USA heute jedoch ein wichtiger Ölproduzent. Das bedeutet, dass die OPEC nicht die dominierende Kraft ist, die sie einst auf dem Ölmarkt war, und Occidental spielt eine Schlüsselrolle. Es ist ein großer Ölproduzent geworden, was gut für das Land ist.
Buffett hob auch die Führung von Occidental bei der CO2-Abscheidung hervor. Das Ölunternehmen hat eine lange Geschichte des Einsatzes von Kohlendioxid, um mehr Öl aus alten Feldern zu locken, indem es es in Ölreservoirs injiziert, um den Druck und die Produktion durch einen Prozess zu erhöhen, der als verbesserte Ölgewinnung bekannt ist. Es nutzt jetzt sein Know-how bei der Einspritzung von Kohlendioxid, um von der massiven Kohlenstoffabscheidungs- und Sequestrierungsmöglichkeit zu profitieren. Es entwickelt ein Dekarbonisierungsgeschäft durch den Bau direkter Luftabscheidungsanlagen, die das Treibhausgas aus der Luft ziehen. Es ist die Kommerzialisierung der Technologie, die, wie ihre Ölproduktion, gut für das Land (und die Umwelt) ist.
https://www.fool.com/investing/2024/02/27/like-coca-cola-and…
BERKSHIRE HATHAWAY INC -2003
At yearend, Berkshire owned 27.8% of Occidental Petroleum’s common shares and also
owned warrants that, for more than five years, give us the option to materially increase our
ownership at a fixed price. Though we very much like our ownership, as well as the option,
Berkshire has no interest in purchasing or managing Occidental. We particularly like its vast oil
and gas holdings in the United States, as well as its leadership in carbon-capture initiatives, though
the economic feasibility of this technique has yet to be proven. Both of these activities are very
much in our country’s interest
And then – Hallelujah! – shale economics became feasible in 2011, and our energy
dependency ended. Now, U.S. production is more than 13 million BOEPD, and OPEC no longer
has the upper hand. Occidental itself has annual U.S. oil production that each year comes close to
matching the entire inventory of the SPR. Our country would be very – very – nervous today if
domestic production had remained at five million BOEPD, and it found itself hugely dependent
on non-U.S. sources. At that level, the SPR would have been emptied within months if foreign oil
became unavailable
For a long time, the pessimism appeared to be correct, with production falling to five
million BOEPD by 2007. Meanwhile, the U.S. government created a Strategic Petroleum Reserve
(“SPR”) in 1975 to alleviate – though not come close to eliminating – this erosion of American
self-sufficiency.
And then – Hallelujah! – shale economics became feasible in 2011, and our energy
dependency ended. Now, U.S. production is more than 13 million BOEPD, and OPEC no longer
has the upper hand. Occidental itself has annual U.S. oil production that each year comes close to
matching the entire inventory of the SPR. Our country would be very – very – nervous today if
domestic production had remained at five million BOEPD, and it found itself hugely dependent
on non-U.S. sources. At that level, the SPR would have been emptied within months if foreign oil
became unavailable.
Under Vicki Hollub’s leadership, Occidental is doing the right things for both its country
and its owners. No one knows what oil prices will do over the next month, year, or decade. But
Vicki does know how to separate oil from rock, and that’s an uncommon talent, valuable to her
https://www.berkshirehathaway.com/2023ar/2023ar.pdf
shareholders and to her country
At yearend, Berkshire owned 27.8% of Occidental Petroleum’s common shares and also
owned warrants that, for more than five years, give us the option to materially increase our
ownership at a fixed price. Though we very much like our ownership, as well as the option,
Berkshire has no interest in purchasing or managing Occidental. We particularly like its vast oil
and gas holdings in the United States, as well as its leadership in carbon-capture initiatives, though
the economic feasibility of this technique has yet to be proven. Both of these activities are very
much in our country’s interest
And then – Hallelujah! – shale economics became feasible in 2011, and our energy
dependency ended. Now, U.S. production is more than 13 million BOEPD, and OPEC no longer
has the upper hand. Occidental itself has annual U.S. oil production that each year comes close to
matching the entire inventory of the SPR. Our country would be very – very – nervous today if
domestic production had remained at five million BOEPD, and it found itself hugely dependent
on non-U.S. sources. At that level, the SPR would have been emptied within months if foreign oil
became unavailable
For a long time, the pessimism appeared to be correct, with production falling to five
million BOEPD by 2007. Meanwhile, the U.S. government created a Strategic Petroleum Reserve
(“SPR”) in 1975 to alleviate – though not come close to eliminating – this erosion of American
self-sufficiency.
And then – Hallelujah! – shale economics became feasible in 2011, and our energy
dependency ended. Now, U.S. production is more than 13 million BOEPD, and OPEC no longer
has the upper hand. Occidental itself has annual U.S. oil production that each year comes close to
matching the entire inventory of the SPR. Our country would be very – very – nervous today if
domestic production had remained at five million BOEPD, and it found itself hugely dependent
on non-U.S. sources. At that level, the SPR would have been emptied within months if foreign oil
became unavailable.
Under Vicki Hollub’s leadership, Occidental is doing the right things for both its country
and its owners. No one knows what oil prices will do over the next month, year, or decade. But
Vicki does know how to separate oil from rock, and that’s an uncommon talent, valuable to her
https://www.berkshirehathaway.com/2023ar/2023ar.pdf
shareholders and to her country
U.S. crude hovers near three month high as Middle East conflict rages on
Published Tue, Feb 20 20248:20 AM ESTUpdated 26 Min Ag
https://www.cnbc.com/2024/02/20/crude-oil-prices-today.html
Published Tue, Feb 20 20248:20 AM ESTUpdated 26 Min Ag
https://www.cnbc.com/2024/02/20/crude-oil-prices-today.html
Trading Spotlight
Occidental Petroleum Eases Permian Basin Focus As Warren Buffett Buys More Shares
https://www.investors.com/news/occidental-petroleum-permian-…
https://www.investors.com/news/occidental-petroleum-permian-…
Darfs ja nicht geben, dass des Vieh jetzt mal vom Fleck kommt.
Beobachte es schon seit dem Einstieg von Buffett, dann waren ziemlich zeitgleich noch Senkungen der Förderquoten (also Verknappung des Angebots) aber der Mist bewegte sich einfach nicht.
Beobachte es schon seit dem Einstieg von Buffett, dann waren ziemlich zeitgleich noch Senkungen der Förderquoten (also Verknappung des Angebots) aber der Mist bewegte sich einfach nicht.
Occidental Petroleum: A Contrarian Play
Backed by Warren Buffett's Berkshire Hathaway, Occidental Petroleum presents itself as a contrarian play. With geopolitical instability affecting oil prices, the potential for growth in this industry is evident.
https://bnnbreaking.com/finance-nav/dividend-stocks-the-path…
Backed by Warren Buffett's Berkshire Hathaway, Occidental Petroleum presents itself as a contrarian play. With geopolitical instability affecting oil prices, the potential for growth in this industry is evident.
https://bnnbreaking.com/finance-nav/dividend-stocks-the-path…
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