Occidental Petroleum Quarterly Profit Drops 85%

Reuters

July 30 (Reuters) – Occidental Petroleum Corp said on Thursday its quarterly profit fell 85 percent as crude oil prices plunged from last year's levels.

The company posted second-quarter net income of $165 million, or 21 cents per share, compared with $1.08 billion, or $1.38 per share, in the year-ago period.

Production rose 13 percent to 658,000 barrels of oil equivalent per day (boe/d).

(Reporting by Ernest Scheyder, Editing by Franklin Paul)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Financial Reporting Analyst
Expertise: Accounting
Location: Houston, TX
 
Director Downhole Tool Engineering
Expertise: Electrical Engineering|Engineering Manager|MWD / LWD
Location: Houston, TX
 
AP Specialist
Expertise: Accounting
Location: Alpharetta, GA
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours