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Occidental Petroleum - No Leverage Concerns, Great Dividends, But Is There Appeal?

Occidental Petroleum (NYSE:OXY) is the oil major with probably the strongest balance sheet, a key asset in this uncertain oil price environment.

The company actually operates with a small net cash position at the current moment and is cutting capital expenditures to levels at which they only slightly exceed depreciation charges. Despite the company cutting its investments by a third, Occidental believes these investments can support production growth into…