Occidental shakes up spending plans for Permian, Gulf of Mexico, more in 2024

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Occidental Petroleum Corp. (NYSE: OXY) is investing about $320 million less in its onshore unconventional assets for 2024, instead focusing on enhanced oil recovery and midstream in the Permian Basin, its Gulf of Mexico assets, and OxyChem. The company also has an update on shut-in Gulf of Mexico production and direct air capture plans.

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Naomi Klinge

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