Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 36

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 36
---
657 $971 $1,828 Summarized Balance SheetCurrent assets$4,874 $4,772 $3,482 Non-current assets$18,151 $18,715 $15,282 Current liabilities$2,270 $2,547 $1,342 Long-term debt$9,296 $9,673 $9,512 Other non-current liabilities$2,504 $2,396 $1,289 Equity$8,955 $8,870 $6,621 RELATED-PARTY TRANSACTIONSOccidental sells oil, NGL, natural gas, chemicals, power and steam to and purchases oil, NGL and chemicals from its equity method investees and other related parties. Occidental is charged service fees primarily related to gathering, processing and treatment of oil, NGL and natural gas by certain of its equity investees and other related parties. Berkshire Hathaway is a related party of Occidental due to its ownership of Occidental's common stock. Occidental has, from time to time, contracted with Berkshire Hathaway for the provision of electricity, rail and insurance. In addition, certain Berkshire Hathaway subsidiaries purchase various chemicals from OxyChem. Occidental entered into the following related-party transactions and had the following amounts due from or to its related parties for the years ended December 31:millions202420232022Sales (a)$244 $256 $337 Purchases (b)$560 $722 $948 Services (c)$1,413 $1,155 $1,006 Advances and amounts due from related parties$49 $62 $40 Amounts due to related parties$384 $371 $306 (a)In 2024, 2023 and 2022 sales of Occidental-produced oil and NGL to WES accounted for 35%, 37% and 42% of related party sales, respectively. (b)In 2024, 2023 and 2022, purchases of gas and NGL marketed on behalf of WES accounted for 5%, 22% and 24% of related party purchases, respectively, while purchases of ethylene from the OxyChem Ingleside Facility accounted for 82%, 69% and 64%, respectively, of related party purchases.(c)In 2024, 2023 and 2022, services primarily related to