Occidental Petroleum Corporation 's International Company Exploration Oils And Gas

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Executive summary

An Occidental Petroleum Corporation. It’s international company exploration oils and gas. Company will conduct to work with each section as following: gas and oils, marketing and chemical. Develop and survey natural gas and oils In USA and abroad as well. The Occidental Petroleum does business in 3 sectors: natural gas and oils, midstream and marketing, chemical and so on. Exploration natural gas and oils in domestic are situated in Texas, New Mexico, Colorado and North Dakota. They also operate overseas in many countries such as: Bolivia, The United Arab Emirates, Colombia, Libya, Iraq, Yemen and Oman.

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Occidental petroleum was established in 1920 at California
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Moreover, the US government wants to reduce crude oil imports from overseas and increase natural gas production in the country in order to promote the domestic production and replacement by coal power capacity. (Practical law, 2015)

According to economist Magazine 2105, at present, as we know that the world oil prices have fallen steadily since June of 2014 that being lower than 100 US dollars per barrel. The price at present for Crude oil Brent of early January 2015 at the level is currently 51 US dollar per barrel.

Economist has analyzed the causes of decline in world oil prices. Typically, the price of oil is determined by demand and supply of the world market and forecast advance to invest in which level of demand depends on the level of economic activity and behavioral use of energy from humans. The oil price decline has a benefit for oil importers like China, India, Japan, Europe but unfortunately for oil exporters such as: Kuwait, Venezuela, Nigeria, and Iraq. Crude oil prices fell steadily in the past seems to be a result of two main factors being the levels of demand declining and a level of increased supplies (Economic, 2015)

In 2015,
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