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Michael Armand Hammer was born on September 8, 1955, in Los Angeles, California.He is the son of Glenna Sue (née Ervin) and Julian Armand Hammer, [2] has two siblings, sister Casey Hammer and half-sister Jan Ward, [3] and has two children, actor Armie Hammer and Viktor, a businessman and entrepreneur.
In 1974, Armand Hammer announced a 35-year oil exploration agreement with Libya, the first such agreement signed by Libya after Muammar Gaddafi came to power in September 1969. By the 1974 deal, 81% of the oil extracted by Occidental Petroleum was going to the Libyan government, with only 19% retained by Occidental Petroleum.
As of August 2016, he was reported to be worth over US$128 million, due to his stock holdings in Occidental Petroleum and other companies. [8] He was on the board of trustees of the Aquarium of the Pacific and Catalina Island Conservancy. [4] He was a Republican. [2] In 2019, Chazen was asked to rejoin Occidental as a board member. [9]
Stephen Chazen, who rose to the top of Occidental Petroleum during a lengthy career and after his retirement started and ran a Texas shale-oil producer, has died aged 76 after an illness. Chazen ...
Feb. 15—The Occidental Petroleum Corp.'s fourth quarter was highlighted by the acquisition of the Midland-based CrownRock Inc. for $12 billion and the $1.1-billion purchase of the Carbon ...
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Occidental Petroleum was founded in Los Angeles, CA in 1920. [5] In 1957, Armand Hammer became the company's president and CEO after acquiring a controlling stake. [6] The 1960s marked a period of expansion as Occidental established operations in Peru, Venezuela, Bolivia, Trinidad, and the United Kingdom.
Occidental Petroleum's CEO said the company will focus on paying off debt for the next couple of years as it puts a pause on aggressive share buybacks. ... Last year Occidental paid out $600 ...