Occidental Petroleum plans to sell its stake in Western Midstream to reduce debt post-CrownRock deal.
Occidental Petroleum, known for major acquisitions, is expected to sell its stake in master limited partnership Western Midstream after funding CrownRock purchase with debt. The move would help the oil giant reduce its debt quickly post-CrownRock deal. This prediction follows a wave of mergers in the oil sector, with Exxon and Chevron also engaging in large deals.
July 13, 2024
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