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FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid/File Photo. (Reuters) - Occidental Petroleum Corp cut its quarterly dividend to just a cent per share on Friday after having already slashed it 86% in March to cope with a historic plunge in oil prices because of the coronavirus outbreak. The company’s shares were down 5% after the news and have lost nearly 70% of their value this year. The oil and gas producer has been struggling with a debt pile of around $40 billion since its $38 billion purchase of Permian rival Anadarko Petroleum last year, an ill-timed bet on rising oil prices. Full story

29 May