Deals
Occidental to Review Mideast Assets in Bid to Cut Debt
- U.S. explorer considers reducing stakes in Oman fields
- Company also open to divesting other holdings in region
Photographer: Trevor Snapp/Bloomberg
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Occidental Petroleum Corp. is reviewing options for its Middle Eastern assets as it seeks ways to reduce its debt pile, people familiar with the matter said.
Houston-based Occidental is considering reducing its stakes in oil and natural gas fields in Oman, according to the people, who asked not to be identified because the information is private. Its holdings in the Gulf sultanate could be valued at more than $1 billion, the people said.