With the ousting of Ray Irani, Occidental Petroleum Corporation (NYSE:OXY)'s CEO since 1990, the company is looking to shift gears to experience higher growth for the future. Evidence of this is found offshore Qatar, where the company is spending more than $3 billion to upgrade Idd El Shargi North Dome oil field. Furthermore, the company is expected to sell some of its Middle Eastern and North American assets which will help swell up the cash flow, initiate a share buyback and relieve it from taking on debt even though its debt/equity rating is already below industry average.