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bar1080

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bar1080

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Tuesday, 08/02/2022 8:07:35 PM

Tuesday, August 02, 2022 8:07:35 PM

Post# of 953
"Occidental tops 2nd-qtr estimates, launches share buybacks

HOUSTON, Aug 2 (Reuters) - Occidental Petroleum Corp on Tuesday capped a turnaround with a second-quarter profit that topped Wall Street estimates while slashing debt and launching a share buyback program on the back of strong oil and gas prices.

"Occidental's chemicals business posted an $800 million operating profit. Its pipeline and marketing unit posted a $264 million profit, compared with a $30 million loss a year ago.

"The company has shifted from debt reduction to shareholder returns," said Peter McNally, an analyst at research firm Third Bridge."

https://finance.yahoo.com/news/1-occidental-petroleum-posts-higher-204356624.html

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