Company: OXY-WT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051071
Chunk: 67

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 67
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 (30)(6)Midstream and marketingAsset impairments and other charges (a)— (162)(162)(21)Derivative gains (losses), net (a)(31)95 (20)56 Gains on sales of assets and other, net (a)— — — 647 Equity method investments fair value gain61 — 61 27 Total midstream and marketing30 (67)(121)709 CorporateAcquisition-related costs and others (b)(1)(6)(13)(141)Total corporate(1)(6)(13)(141)Income tax impact on items affecting comparability5 30 61 2 Income tax impact on Algeria contract renewal— — — (20)Gain (loss)12 (108)(190)(82)Discontinued operations, net of taxes— — — 182 Total$12 $(108)$(190)$100 

(a)    Included amounts from income from equity investments and other in the Consolidated Condensed Statement of Operations.

(b)    The nine months ended September 30, 2024 included $66 million of financing costs related to the CrownRock Acquisition. The remaining amounts for each period are related to CrownRock transaction costs.

Q3 2025 compared to Q2 2025

Excluding the impact of items affecting comparability, net income for the three months ended September 30, 2025, compared to the three months ended June 30, 2025, increased due to higher crude oil sales volumes worldwide and higher domestic oil prices in the oil and gas segment, partially offset by lower Waha-to-Gulf-Coast gas spreads in the midstream and marketing segment. 

YTD 2025 compared to YTD 2024

Excluding the impact of items affecting comparability, net income for the nine months ended September 30, 2025, compared to the same period in 2024, decreased primarily due to lower crude oil prices in the oil and gas segment and higher ethylene and energy costs in the chemical segment, partially offset by higher sales volumes in the oil and gas segment due to a full nine months of production from CrownRock assets in 2025 and higher Waha-to-Gulf-Coast gas spreads in the midstream and marketing segment.

29

SELECTED STATEMENTS OF OPERATIONS ITEMS

Q3 2025 compared to Q2 2025

Net sales of $6.6