Occidental Petroleum Exploring Options to Shore Up Impaired Balance Sheet

  • May 07, 2020 AEST
  • Team Kalkine

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.

 


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