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Occidental cuts 2020 capex, to book $1.7 billion charges in fourth quarter

FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the NYSE
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(Reuters) - Occidental Corp said on Tuesday its fourth-quarter results would include about $1.7 billion (£1.3 billion)in charges and further cut its spending as the shale producer reduces costs following its $38 billion purchase of rival Anadarko Petroleum.The Anadarko deal was an enormous bet on the shale boom continuing and Occidental's ability to find ready buyers for unwanted assets...
Date Published: Feb 11, 2020
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