Occidental Announces Dividend
About Occidental
Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of America. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas, and includes our Oxy Low Carbon Ventures subsidiary, which is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. We are dedicated to using our global leadership in carbon management to advance a lower-carbon world. Visit Oxy.com for more information.
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Global News
25 minutes ago
- Global News
Could higher tariffs mean more layoffs in Canada? What industry experts say
Canada's job market could be getting squeezed if the economy shrinks further, and an increase in tariffs could mean more tough times ahead for some sectors and industries — which experts say could lead to further job cuts. 'We are in a very difficult moment and workers are already feeling the pain, but it would be even more destructive if we were to sign a bad deal,' says national president Lana Payne of Unifor, a private sector union which employs 320,000 workers in Canada. 'We need to put maximum pressure on the United States so that they are feeling the heat because it's getting worse and worse there now. And that puts us in a better position to be able to negotiate as well.' On Friday, the trade war escalated yet again after United States President Donald Trump increased tariffs on Canada by 10 per cent. This means that all Canadian goods imported into the U.S. that do not comply with the terms in the Canada-United States-Mexico Agreement free trade agreement (CUSMA) will see a 35 per cent duty added on — a jump from 25 per cent. Story continues below advertisement The new tariff effectively increases the base level for all goods that do not comply with the agreement, but there continue to be exceptions. These include a 50 per cent tariff on Canadian steel, aluminum and copper products, 25 per cent on automobiles and parts, and a 10 per cent tariff on Canadian energy imports into the U.S. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Prime Minister Mark Carney said he was 'disappointed' in Trump's decision to increase tariffs, after several weeks of negotiations failed to reach a new trade deal by Friday's deadline. Prior to the deadline, Carney said he will only make a deal that is 'best for Canada.' 'The Canadian Federation of Independent Business (CFIB) supports the view that no deal is better than a bad deal, but the lack of resolution means small firms will not be able to plan for the future or continue to put off difficult choices,' says president Dan Kelly at the CFIB. 'I do worry deeply that that layoffs will start to happen in large numbers. I spoke to one small business owner who said that he's run out of money to be able to support his staff, and is in real need of some support.' Many business owners in Canada have been able to absorb some or all of the tariff increases, sacrificing potential profits, and opting to support their workers as well as keep prices for customers relatively stable. However, sacrificing profits to maintain operations amid higher costs may not be an effective long-term strategy, so layoffs could be the other shoe that drops. Story continues below advertisement Many industry leaders are pushing the federal government to support Canadian workers impacted by the trade war with the revenue generated from retaliatory tariffs against the U.S. 'We need to use the tariff revenue that we have been collecting from the United States to help workers and industries that are being impacted the most right now. We have seen that happen in the steel industry. My advice would be that if we have to do this in the auto industry, that we are using these revenues to keep people working,' says Payne. 0:36 Steel and aluminum workers need immediate action from feds, facing job losses 'now': Bruske Not all industries have been impacted by Friday's tariff increase, but some of the hardest-hit to date, including Canadian steel, are already in tough times, resulting in job cuts. 'Since March, we've seen 1,000 job losses. We've see production decline by 30 per cent at the 25 per cent tariff level. Then we've also seen the 50 per cent tariffs really putting an immense amount of challenge on our ability to serve the U.S. market. That is just not a feasible circumstance,' said president and CEO Catherine Cobden at the Canadian Steel Producers Association. Story continues below advertisement 'With the job losses to date, our concern is that things are going to accelerate very quickly. Now that we've passed another deal marker, I think that there were some customers that were willing to wait it out. But we've had deal date after deal date that have come and gone, and now we must get very serious about our own circumstances here at home.' 'I also want to encourage everyone, every government in Canada, to use their government dollars to support Canadian jobs,' Cobden said.
Toronto Sun
25 minutes ago
- Toronto Sun
Moe disappointed by Trump's tariffs but says Carney should remove countermeasures
Published Aug 01, 2025 • 3 minute read Alberta Premier Danielle Smith and Saskatchewan Premier Scott Moe take part in a joint press conference following a talk hosted by Enserva in Calgary on Monday, June 16, 2025. Photo by Brent Calver / Postmedia Network SASKATOON — Saskatchewan Premier Scott Moe says Prime Minister Mark Carney should start removing counter tariffs against the United States to get a deal done with President Donald Trump. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account U.S Commerce Secretary Howard Lutnick has asked Ottawa to do away with countermeasures, and Moe says Canada should heed the advice. 'If we're serious about achieving a renewed, revamped and enhanced trade environment or some type of a new and improved (Canada-United States-Mexico trade agreement), somebody's going to have to move in this space,' Moe said Friday at a news conference. 'We would suggest that it should be Canada.' Trump followed through late Thursday on his threat to hit Canada with 35 per cent tariffs — up from 25 per cent — on goods not compliant with the trade agreement, better known as CUSMA. Tariffs of 50 per cent remain in effect on steel and some copper products, and levies on Canadian automobiles and lumber are also in place. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Carney has imposed 25 per cent tariffs on $30 billion in U.S. goods. Moe said he's heard from farmers dinged by Canadian levies on steel bins, as it's importers pay those tariff charges. 'The reason we will be urging for a reduction of counter tariffs is they hurt Saskatchewan and Canadians, our families, our businesses and our places of work,' he said. '(It's) in the same way that Donald Trump's tariffs are pushing up the cost of doing business in the U.S. and really pushing them into a situation where the last two months running, their job numbers have been much more dismal than the projection.' Moe also called the jump in Trump's tariffs disappointing. He said he gives credit to Canada-U.S. Trade Minister Dominic LeBlanc for ensuring exports compliant with CUSMA are tariff-free. This advertisement has not loaded yet, but your article continues below. Under the agreement, 95 per cent of Saskatchewan exports move into the United States without duties, Moe added. 'That is incredibly important,' the premier said. '(It) allows us largely to have an opportunity to create North American energy security, food security and manufacturing security.' U.S. Census Bureau data shows nearly 60 per cent of Canadian goods that entered the country in May were compliant with the agreement. Moe and other premiers have also called on Ottawa to cut regulations to spur pipeline and rail development. He said he's hopeful Carney's latest law to streamline approvals for national infrastructure projects will do just that. Meanwhile, Alberta Premier Danielle Smith said the vast majority of her province's products remain tariff-free, because they also fall under the trade agreement. This advertisement has not loaded yet, but your article continues below. Smith said in a social media post it's unfortunate non-compliant goods will be hit with the higher tariffs. 'These tariffs hurt both Canadian and American businesses and workers, and they weaken one of the most important trade and security alliances in the world,' she said. 'I remain convinced that the path to a positive resolution with our U.S. partners lies in strong, consistent diplomacy and a commitment to working in good faith toward shared priorities.' Smith said Carney should continue negotiating with Trump, while working toward diversifying the country's economy. Read More Both Moe and Smith recently reallowed U.S. liquor to be sold in their provinces, after temporarily banning such sales when the tariff war started earlier this year. Moe has said the 'elbows-up' approach in dealing with Trump is nothing more than a slogan. 'This is a time for us … to make fact-based decisions, not to make decisions that maybe make us feel good, that we think are going to be good slogans or things of that nature,' he said Friday. — By Jeremy Simes in Regina Canada Toronto Blue Jays Celebrity Toronto & GTA Columnists
CTV News
2 hours ago
- CTV News
N.S. premier ‘will not hesitate to implement retaliatory measures' as U.S. increases tariffs
Nova Scotia Premier Tim Houston says his government 'will not hesitate to implement retaliatory measures' if they are needed as the United States raises its tariffs on Canadian exports. On Friday, President Donald Trump signed an executive order raising tariffs to 35 per cent on products not covered under the Canada-U.S.-Mexico trade agreement. Trump had earlier issued an Aug. 1 deadline for Canada to reach a new trade deal. In a written statement, Houston said it has been a 'long and difficult road' to navigate the trade dispute. 'We never wanted to be in this position,' Houston said. 'No one wanted tariffs. Today, we are learning that we still have more work to do.' Houston said his government will focus on building the province's economy, becoming self reliant, diversifying new trade markets and removing internal trade barriers. Earlier this year, Nova Scotia introduced the Free Trade and Mobility within Canada Act, which allows the province to remove trade barriers. So far it has signed deals to remove trade barriers with Ontario, Alberta and Prince Edward Island. New Brunswick response In a post on X (formerly Twitter), New Brunswick Premier Susan Holt said they are 'extremely disappointed' with the tariff increase, but noted that most of New Brunswick exports are compliant with the Canada-U.S.-Mexico trade agreement. 'We urge the federal government to continue to protect our softwood lumber and steel sectors from these devastating tariffs,' she said. 'Canada is coming together like never before to support our local businesses, workers and build a strong and resilient economy. 'Canada has what the world wants, and we should not settle for anything less than the best deal for New Brunswickers.' Canada has what the world wants, and we should not settle for anything less than the best deal for New Brunswickers. While we are extremely disappointed to see these tariffs continue to move in the wrong direction, the vast majority of the goods New Brunswick exports are… — Susan Holt (@susanholt) August 1, 2025 Holt, who has advocated for a free trade zone in Atlantic Canada, has signed memorandums of understanding on removing trade barriers with Ontario, P.E.I., Manitoba and Newfoundland and Labrador. -With files from CTV News Atlantic's Natalie Lombard
