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Thursday, January 29, 2015

Occidental Slashes Capital Spending, Following Trend



Investors.com http://ift.tt/15VoWzp Occidental Petroleum (OXY) joined its peers Thursday in disclosing capital spending cuts for this year as oil prices have fallen 60% since June. The exploration and production company sees a capital expenditure budget of $5.8 billion, down 33% from 2014, as it plans to focus on its core assets in the Permian Basin and parts of the Middle East and cut back activity in the Williston Basin and Bahrain. "Although we have a large inventory of


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