Occidental Petroleum expects the closing of its $12-billion deal to buy CrownRock to be delayed to the second half of 2024 as the Federal Trade Commission (FTC) has asked for additional information while it reviews the proposed transaction. At the end of last year, Oxy said it would buy Permian oil and gas producer CrownRock for cash and stock in a deal valued at around $12 billion, including debt, with which it joined the wave of recent mergers and acquisitions in the U.S. oil industry. The acquisition will boost Occidental’s…
