Occidental brought to its knees after Anadarko acquisition

Occidental Petroleum cuts its capital expenditure for next year to pay off on its debt following the acquisition of Anadarko, which was finalized in the latest quarter. The company also reports a deficit.

Anadarko stock is no longer traded on NYSE, as Occidental Petroleum has taken over its business. This naturally affects the Houston-based oil firm's financials. | Photo: Brendan Mcdermid/Reuters/Ritzau Scanpix

US-based oil company Occidental Petroleum has suffered major blow to its financials, not least following its Anadarko acquisition.

This is evident in the company's third quarter earnings call, in which its budget for the foreseeable future has been decimated.

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