Occidental finance chief pledges to act quickly to pare acquisition debt

FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange in New York, April 30, 2019. REUTERS/Brendan McDermid/File Photo

Cedric Burgher, in his first public remarks since the $38 billion acquisition closed last week, told an Enercom energy conference audience, the resulting debt burden was “not that bad,” and pledged Occidental would be selective in choosing assets to sell. “When the smoke clears, people will start to see what we’ve done,” Burgher said to an overflow crowd.

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