Oxy Pressured by Price Drop

摘要

The drop in oil prices is squeezing the finances of US giant Occidental Petroleum despite the independent’s aggressive hedging program. Houston-based Oxy did not plan on US oil prices plunging below $50 per barrel when it shelled out $38 billion in cash and shares for Anadarko Petroleum last year and took on more than $15 billion in Anadarko debt (OD Nov.6’19).