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Occidental Petroleum corporate - reported results analysis

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06 November 2019

Occidental Petroleum corporate - reported results analysis

Report summary

Oxy promised capex cuts and capital synergies in excess of US$3.5 billion at the time of the Anadarko deal and is now under pressure to demonstrate it can achieve them. In its latest call it slashed its 2020 budget to US$5.4 billion, from US$8.6 billion in 2019. It also gave detailed insight into the capex and opex synergies it has identified, with plans to save US$2 billion a year, on top of US$1.5 billion in capex cuts that will come from reduced activity. Delivering these synergies and improving its capital efficiency will be crucial if it is to reach its goal of 5% growth in 2021 with spend of only US$6.6 billion in that year.

Table of contents

  • Overview
  • Key takeaways
  • Overview
  • Key takeaways
  • Overview

Tables and charts

This report includes 3 images and tables including:

  • Occidental: evolution of quarterly net income
  • Occidental: evolution of quarterly production
  • Occidental synergies and cost saving target

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    Occidental_Petroleum_corporate_-_reported_results_analysis (2013-2018).pdf

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    Occidental Petroleum corporate - reported results analysis

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