Company: OXY-WT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051071
Chunk: 41

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 41
---
30, 2025, the VIE’s assets were comprised of $1.1 billion construction in progress. Noncontrolling interest as of September 30, 2025 was $505 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 September 30, 2025, trade receivables, net of $3.2 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 and nine months ended September 30, 2025 and 2024:Three months ended September 30,Nine months ended September 30, millions2025202420252024Revenue from customers$6,682 $7,020 $19,911 $20,553 All other revenues (a)(58)153 (70)(588)Net sales$6,624 $7,173 $19,841 $19,965 (a)    Includes other net revenues from the midstream and marketing segment and chemical segment.

10

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 September 30, 2025Oil and gasOil$3,764 $695 $— $4,459 NGL469 88 — 557 Gas240 91 — 331 Other56 1 — 57 Segment total$4,529 $875 $— $5,404 Chemical$1,091 $74 $— $1,165 Midstream and marketing$178 $187 $— $365 Eliminations$— $— $(252)$(252)Consolidated$5,798 $1,136 $(252)$6,682