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Occidental Petroleum beats quarterly profit, discloses additional divestments
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Occidental Petroleum beats quarterly profit, discloses additional divestments
Aug 6, 2025 1:40 PM

Aug 6 (Reuters) - Occidental Petroleum ( OXY ) beat Wall

Street estimates for second-quarter profit on Wednesday, as

higher production countered lower crude oil prices.

The company's quarterly average global production was at 1.4

million barrels of oil equivalent per day (MMboepd), compared

with 1.26 MMboepd a year earlier.

Last week, oil majors Exxon Mobil ( XOM ) and Chevron ( CVX )

reported a quarterly profit beat as higher prices helped

them offset lower crude prices.

Occidental disclosed $950 million of additional divestitures

since the start of the second quarter, of which $370 million has

already closed.

The company reported an adjusted profit of 39 cents per

share for the quarter ended June 30, compared with analysts'

average estimate of 29 cents, according to data compiled by

LSEG.

(Reporting by Tanay Dhumal in Bengaluru; Editing by Sriraj

Kalluvila)

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