Despite divestment delays, Occidental projects an output increase of up to 10% in 2015.
US independent Occidental Petroleum Corporation expects production growth to average between 6% and 10% for the full 2015 year, boosted by the start of production from the Al-Hosn sour gas project in the UAE. This comes despite a planned slowdown in activities in Bahrain, due to poor returns in a low oil price environment. Efforts to sell part of its Middle Eastern assets also appear to have stalled after a year in which politics first, and then economics, foiled its plans to sell off part or all of its stakes in Oman and the UAE. (CONTINUED - 747 WORDS)