Occidental makes surprise Phibro purchase

摘要

New York-US-based upstream company Occidental Petroleum announced October 9 it would expand its reach into the commodities trading arena by purchasing Phibro from Citigroup for $250 million. Occidental will gain access to Phibro head and star trader Andrew Hall, along with his management team and employees, who will all be retained. "I would pay my own money to talk to Andy Hall every day about the oil markets," said Oxy CFO Steve Chazen early October 9, when the deal with Phibro was finanalized, according to Oxy spokesman Richard Kline.