Company: OXY-WT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000797468-25-000111
Chunk: 81

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 81
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533 $(142)$(26)$1,365 NGL196 (9)(5)182 Natural gas178 1 (7)172 Total$1,907 $(150)$(38)$1,719 

(a)     Includes the impact of international production sharing contracts.

(b)    Excludes "other" oil and gas revenue. See Note 2 - Revenue in the Notes to Consolidated Condensed Financial Statements in Part I, Item 1 of this Form 10-Q for additional information regarding other revenue.

CHEMICAL SEGMENT

Q2 2025 compared to Q1 2025

Chemical segment earnings for the three months ended June 30, 2025 were $213 million, compared to $185 million for the three months ended March 31, 2025. Excluding items affecting comparability, chemical segment earnings were relatively unchanged and reflected negative inventory adjustments, offset by improved export demand for caustic soda and PVC.

YTD 2025 compared to YTD 2024

Chemical segment earnings for the six months ended June 30, 2025 were $398 million, compared to $550 million for the six months ended June 30, 2024. Excluding items affecting comparability, the decrease was primarily due to lower PVC margins from lower pricing and higher ethylene costs.

31

MIDSTREAM AND MARKETING SEGMENT

Q2 2025 compared to Q1 2025

Midstream and marketing segment earnings for the three months ended June 30, 2025 were $49 million, compared to segment losses of $77 million for the three months ended March 31, 2025. Excluding the impact of items affecting comparability, midstream and marketing second quarter results increased due to higher gas margins from transportation capacity optimization in the Permian Basin and higher sulfur prices at Al Hosn.

YTD 2025 compared to YTD 2024

Midstream and marketing segment losses for the six months ended June 30, 2025 were $28 million, compared to segment earnings of $83 million for the six months ended June 30, 2024. Excluding the impact of items affecting comparability, midstream and marketing results increased due to higher gas margins from transportation capacity optimization in the Permian Basin and higher sulfur prices at Al Hosn, partially offset by losses from equity method investees and higher expenses due to the increase in activities in the low-carbon ventures businesses