Energy News

Billionaire activist investor cuts stake in Oxy, still plans to fight

Billionaire activist investor Carl Icahn — head of Icahn Enterprises LP (Nasdaq: IEP) — has reduced his stake in Houston-based Occidental Petroleum Corp. (NYSE: OXY) by almost a third, but he still intends to wage a proxy battle against the company’s current leadership.

Icahn lambasted Oxy CEO Vicki Hollub and the company’s board in a fiery letter to Occidental shareholders filed with the U.S. Securities Exchange Commission Nov. 8. The criticisms are nothing new — Icahn has made similar…