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Syntholene Energy Corp appointed Steve Oldham, known for leading Carbon Engineering to a $1.6 billion acquisition by Occidental Petroleum, to its Board of Directors on December 17, 2025.
Occidental Petroleum's stock has declined 21.9% year-to-date, sparking a debate as discounted cash flow models suggest it is 83.4% undervalued while its Price-to-Earnings ratio remains elevated.
Bank of America has modestly lowered its price target for Occidental Petroleum to $44 per share. This adjustment occurs as Berkshire Hathaway proceeds with its planned $9.7 billion cash acquisition of Occidental's chemical division, OxyChem, a move expected to streamline Occidental's operations.
ExxonMobil is pausing its clean hydrogen projects, cutting its low-carbon budget by $10 billion for 2025-2030. The move reflects a broader industry retreat from nascent green technologies amid shifting political and economic pressures, signaling a strategic refocus on core fossil fuel operations.