Occidental to slash spending after swinging to loss

By Jennifer Hiller HOUSTON (Reuters) - Occidental Petroleum Corp said on Monday it would slash spending on big projects by 40% next year, as it missed earnings estimates in its first results after closing its $38 billion (£29.46 billion) purchase of rival Anadarko Petroleum. Analysts and activist investors have been pushing the company to reduce expenses and pay down debt faster. It quadrupled its debt to $40 billion with the Anadarko deal.

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