Occidental Petroleum Corporation, the behemoth global oil explorer and producer to shore-up its impaired balance sheet and looking for options concerning the same, including raising cash or refinancing debt, post declaring a loss of USD 2 billion.
- While peers such as Exxon Mobil and Royal Dutch Shell, had already decided to slash their capital expenditure and curb output.
- The Company in a spot of bother as it recently purchased Anadarko Petroleum for a total consideration of USD 38 billion, which places the Company in the debt of USD 40 billion amidst the worst oil crisis.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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