By: ICN Bureau
Last updated : March 06, 2018 8:18 pm
OXY has lowered its earnings from chemical segment to US$60 million due to the impacts of Hurricane Harvey
Oil and gas producer OXY has lowered its earnings from chemical segment to US$60 million due to the impacts of Hurricane Harvey. The company also expects income from midstream segment to drop. OXY also estimates that its daily production has come down by about 1,000 barrels of oil equivalent (BOE) per day.
Houston- headquartered company has announced that its operations have returned to pre-Hurricane Harvey level. “We remain on track and continue along our pathway to break even at $50 after dividend and production growth and our long-term, returns-focused value proposition,” Vicki Hollub, President & CEO, Oxy said.