A decision is expected by year-end. He recently completed a tour of the GCC countries where it has assets – aiming to reassure leaders that Oxy is committed to the region whilst floating the idea of spinning off international assets and selling a 20% stake in them, while remaining the operator (MEES, 28 June).

When asked about the Middle East he said: “when we have [a] definitive thing to talk about in the Middle East, we’ll talk about it…[We are] just considering various options. The Board has really just been exposed to this in detail at one meeting, and so it will take a little while and we want to consult fully with them and weigh all the alternatives for them. But clearly some things are going ahead quickly.” (CONTINUED - 685 WORDS)