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

(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. However, the plan has since run headlong into falling oil and natural gas prices and a dearth of..