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RBNZ Expands Bond Purchases to Aid Recovery as Covid Returns Head of World’s Top Pension Fund Looks Beyond Sovereign Debt Historic oil crash is putting pressure on entire crude sector
When discussing the fiscal tightening in March, President and CEO Vicki Hollub said that "these actions lower our cash flow breakeven level to the low $30s WTI."
Fed’s Rosengren Says Failure to Contain Virus Hurting Recove... Fed’s Rosengren Says Failure to Contain Virus Hurting Recove...
Please opt-in to receive news and information about Nasdaq’s services. Occidental Petroleum (OXY -5.5%) says it is cutting its quarterly dividend to $0.01/share from $0.11 previously, a 91% reduction. Mnuchin Pushes for Limited Stimulus as Talks Remain Stalemat... It also has $39 billion of long term debt, according to SunTrust, making it one of the most-exposed major oil explorers to declining crude prices. See you at the top! Updates with analysts comments from fourth paragraph.
Head of World’s Top Pension Fund Looks Beyond Sovereign Debt While oil prices are currently back in the low to mid $30s, Hollub said on Friday at its shareholder meeting, "we've taken a series of decisive financial and operational actions to ensure that [Occidental] has the resiliency to weather this difficult period while positioning the company to succeed in future higher price environments," Besides operational costs, Occidental is encumbered with an abundance of debt after its $38 billion Stock Advisor launched in February of 2002. Occidental Petroleum Corp. OXY, -3.07% said Friday that its board of directors has declared a regular quarterly dividend of a penny a share, payable on July 15 to … Stocks Mount Fresh Run at Record High; Bonds Fall: Markets W...
Weaker Dollar Is a Reprieve for Central Banks Hoping to Ease
A Top Investor Says South Africa is in Debt-Trap ‘Twilight Z... All of this was in response to the low price of oil, but was particularly necessary due to Occidental's high debt load.
Stocks Mount Fresh Run at Record High; Bonds Fall: Markets W...
Turkish Bank Bonds Trading in Distress Defy Erdogan’s Optimi...
Mnuchin Pushes for Limited Stimulus as Talks Remain Stalemat... Stocks Mount Fresh Run at Record High; Bonds Fall: Markets W...
A Top Investor Says South Africa is in Debt-Trap ‘Twilight Z... Returns as of 08/12/2020.
Occidental Petroleum Corp. cut its dividend for the first time in 30 years as the oil producer opts to conserve cash to cover debt incurred in its $37 billion takeover of Anadarko Petroleum Corp. last year.The company slashed the payout 86% after oil prices plunged this week, adding fuel to criticism from shareholders including billionaire investor Carl Icahn that Occidental took on too much debt and destroyed shareholder returns to buy Anadarko.
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