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."
News 
Market Data 
Discover 
