- Occidental Petroleum (NYSE:OXY) is in talks to sell as much as a $3B stake of the Shah natural gas field to Abu Dhabi-owned Mubadala Development.
- The company is looking to individually sell several of its Middle East assets after it failed to cut 40% of its operations in the region earlier this year.
- Separately, Occidental Petroleum is looking to sell part of its stake in Dolphin Energy, a joint venture that operates a pipeline transporting gas from Qatar to the UAE and Oman. Mubadala and Total (NYSE:TOT) are partners in the project.
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