US upstream independent Occidental Petroleum(Oxy)is stumbling uncharac-teristically on production as it prepares for corporate restructuring later this year. Some investors are wondering where its growth will come from after the company spins off its California business and off-loads assets from the Rocky Mountains to the Middle East. Oxy’s oil and natural gas output in April-June fell for a third consecutive quarter to 742,000 b/d of oil equivalent (boe/d),down by 4pc from the year-ear-lier period.The firm had posted 25 quar-ters of consistent production growth before the recent losing streak.
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