Occidental Petroleum to cut debt before boosting oil output

Occidental Petroleum to cut debt before boosting oil output
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31.08.2020

MOSCOW (MRC) -- Occidental Petroleum expects oil and gas output to dip in the second half of the year and will not boost production until it "significantly" reduces debt, reported Reuters with reference to Chief Executive Vicki Hollub's statement.The company has been struggling with debt taken on during its USD38 billion acquisition of Anadarko Petroleum last year, an ill-timed bet on oil

Full article at mrcplast.com

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