NYSE:OXYOil and Gas
Occidental Petroleum (OXY): Assessing Valuation After Debt Reduction and Carbon Capture Expansion
Occidental Petroleum (OXY) has been making headlines lately, and for good reason. The company has slashed $7.5 billion in debt over the past 13 months, which immediately translates into $410 million less in annual interest payments and a more resilient balance sheet. Now, with the upcoming launch of the Stratos direct air capture facility—a project set to be the largest of its kind—Occidental is signaling a move beyond traditional oil and gas by stepping boldly into the carbon credit market...