Company: OXY-WT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051071
Chunk: 71

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 71
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 tomillionsNine months ended September 30, 2024 (b)Price RealizationsNet Sales VolumesNine months ended September 30, 2025 (b)United States RevenueOil$11,564 $(1,796)$1,282 $11,050 NGL1,314 129 61 1,504 Natural gas314 534 (22)826 Total$13,192 $(1,133)$1,321 $13,380 International RevenueOil (a)$2,259 $(255)$56 $2,060 NGL293 (23)— 270 Natural gas269 1 (7)263 Total$2,821 $(277)$49 $2,593 

(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

Q3 2025 compared to Q2 2025

Chemical segment earnings for the three months ended September 30, 2025 were $197 million, compared to $213 million for the three months ended June 30, 2025. The decline in the third quarter of 2025 resulted primarily from lower realized prices and volumes across most product lines, partially offset by favorable raw material costs.

YTD 2025 compared to YTD 2024

Chemical segment earnings for the nine months ended September 30, 2025 were $595 million, compared to $854 million for the nine months ended September 30, 2024. Excluding items affecting comparability, the decrease in pre-tax income resulted from lower realized pricing across most product lines, primarily PVC, and higher raw material and energy costs.

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MIDSTREAM AND MARKETING SEGMENT

Q3 2025 compared to Q2 2025

Midstream and marketing segment earnings for the three months ended September 30, 2025 were $93 million, compared to segment earnings of $49 million for the three months ended June 30, 2025. Excluding the impact of items affecting comparability, midstream and marketing third quarter results decreased due to lower Waha-to-Gulf-Coast gas spreads and higher expenses due to the increase in activities in the low-carbon