Company: OXY-WT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000797468-25-000076
Chunk: 48

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 48
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, 2025 was $393 million.

NOTE 2 - REVENUE Revenue from customers is recognized when obligations under the terms of a contract with customers are satisfied; this generally occurs with the delivery of oil, NGL, gas, chemicals or services, such as transportation. As of March 31, 2025, trade receivables, net of $3.6 billion represent rights to payment for which Occidental has satisfied its obligations under a contract and its right to payment is conditioned only on the passage of time.The following table shows a reconciliation of revenue from customers to total net sales for the three months ended March 31, 2025 and 2024:Three months ended March 31,millions20252024Revenue from customers$6,911 $6,731 All other revenues (a)(108)(756)Net sales$6,803 $5,975 (a)    Includes other net revenues from the midstream and marketing segment and chemical segment.

9

DISAGGREGATION OF REVENUE FROM CONTRACTS WITH CUSTOMERSThe table below presents Occidental's revenue from customers by segment, product and geographical area. The oil and gas segment typically sells its oil, NGL and gas at the lease or concession area. Chemical segment revenues are shown by geographic area based on the location of the sale. Midstream and marketing segment revenues are shown by the location of sale:millionsUnited StatesInternationalEliminationsTotalThree months ended March 31, 2025Oil and gasOil$3,830 $675 $— $4,505 NGL578 96 — 674 Gas381 84 — 465 Other38 1 — 39 Segment total$4,827 $856 $— $5,683 Chemical$1,114 $73 $— $1,187 Midstream and marketing$174 $138 $— $312 Eliminations$— $— $(271)$(271)Consolidated$6,115 $1,067 $(271)$6,911 millionsUnited StatesInternationalEliminationsTotalThree months ended March 31, 2024Oil and gasOil$3,349 $772 $— $4,121 NGL416 99 — 515 Gas187 87 — 274 Other5 — — 5 Segment total$3