Occidental Petroleum expects to book around US$1.7 billion in impairments and costs for the fourth quarter of 2019 when it reports results later this month, the company said on Tuesday, attributing the charges to the sale of a stake in a gas pipeline operator and to the acquisition of Anadarko last year. Oxy, which will announce its Q4 2019 results after market close on February 27, expects the fourth-quarter income to be impacted by pre-tax charges related to the Anadarko acquisition and other items affecting comparability, the company said in a filing to the SEC today. Occidental expects to book US$1 billion worth of impairment and other charges for its investment in gas pipeline operator Western Midstream Partners, as well as another US$655 million in costs related to the acquisition of Anadarko, including employee-related severance and other integration-related costs. Those charges and costs would be partially offset by a […]