Market Chatter: Occidental Acquiring 10% Stake in Exxon's Deepwater Block Offshore Trinidad

MT Newswires Live05-27 02:06

Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported Tuesday, citing two people familiar with the matter.

Exxon was the sole owner of the offshore block, which lies in water depths of 2,000 to 3,000 meters, the report said.

Occidental and Exxon didn't immediately reply to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 58.17, Change: -0.64, Percent Change: -1.09

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