Occidental Petroleum Reports Significant Increase in Second-Quarter Earnings

Wednesday, 7 August 2024, 20:22

Occidental Petroleum achieved a remarkable second-quarter profit of $992 million, translating to $1.03 per share, a significant increase from $605 million, or 63 cents per share, a year prior. This profit boost is primarily attributed to a rise in both oil production and crude prices, demonstrating the company's ability to benefit from favorable market conditions. As the oil and gas sector rebounds, Occidental's robust performance showcases its operational strengths and strategic positioning within the industry.

Yahoo Finance — Occidental Petroleum Reports Significant Increase in Second-Quarter Earnings

Occidental Petroleum's Second-Quarter Performance

Occidental Petroleum reported a rise in second-quarter profit on Wednesday, driven by higher oil production and crude prices.

Financial Highlights

Profit: $992 million
Earnings per Share: $1.03
Last Year’s Profit: $605 million
Last Year’s Earnings per Share: 63 cents

Conclusion

This exceptional financial performance highlights Occidental Petroleum's resilience and strategic acumen in a volatile market, solidifying its position in the oil and gas industry.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Occidental Petroleum's Second-Quarter Performance

Financial Highlights

Conclusion

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