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Occidental Petroleum | CORRESP: CORRESP

Occidental Petroleum | CORRESP: CORRESP

西方石油 | CORRESP：信函
美股sec公告 ·  05/09 08:00
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Occidental Petroleum Corporation responded to a comment letter from the U.S. Securities and Exchange Commission (SEC) regarding its Form 10-K for the fiscal year ended December 31, 2023. The SEC's inquiry, dated April 30, 2024, sought clarification on the classification of Occidental's low-carbon ventures businesses (OLCV) within its financial reporting. Occidental's analysis concluded that OLCV does not meet the criteria to be considered a separate operating segment under FASB ASC 280-10-50. The company's Chief Operating Decision Maker does not review OLCV as a discrete segment, and its financial results are included within the midstream and marketing segment. OLCV's activities, which involve CO2 sequestration services and direct air capture technology, are still in the developmental stage with no significant revenue or assets. Occidental also confirmed that it has no oil and gas reserves or production associated with equity method investments. The company has agreed to remove immaterial references to equity method investees from future filings.
Occidental Petroleum Corporation responded to a comment letter from the U.S. Securities and Exchange Commission (SEC) regarding its Form 10-K for the fiscal year ended December 31, 2023. The SEC's inquiry, dated April 30, 2024, sought clarification on the classification of Occidental's low-carbon ventures businesses (OLCV) within its financial reporting. Occidental's analysis concluded that OLCV does not meet the criteria to be considered a separate operating segment under FASB ASC 280-10-50. The company's Chief Operating Decision Maker does not review OLCV as a discrete segment, and its financial results are included within the midstream and marketing segment. OLCV's activities, which involve CO2 sequestration services and direct air capture technology, are still in the developmental stage with no significant revenue or assets. Occidental also confirmed that it has no oil and gas reserves or production associated with equity method investments. The company has agreed to remove immaterial references to equity method investees from future filings.
西方石油公司回应了美国证券交易所（SEC）有关截至2023年12月31日的财政年度的10-K表格的评论函。 SEC于2024年4月30日发出的查询请求澄清了西方石油低碳风险企业（OLCV）在其财务报告中的分类。 西方石油的分析得出结论，OLCV不符合根据FASB ASC 280-10-50的独立运营细分的标准。 公司的首席运营决策者不会将OLCV作为独立的细分板块进行审查，其财务结果已包括在中游和营销板块中。 OLCV的活动涉及二氧化碳封存服务和直接空气捕集技术，仍处于发展阶段，没有显着的营业收入或资产。 西方石油还确认，其没有与股权法投资相关的油气储备或生产。 公司已同意从未来的申报文件中删除不重要的股权法投资相关的参考。
西方石油公司回应了美国证券交易所（SEC）有关截至2023年12月31日的财政年度的10-K表格的评论函。 SEC于2024年4月30日发出的查询请求澄清了西方石油低碳风险企业（OLCV）在其财务报告中的分类。 西方石油的分析得出结论，OLCV不符合根据FASB ASC 280-10-50的独立运营细分的标准。 公司的首席运营决策者不会将OLCV作为独立的细分板块进行审查，其财务结果已包括在中游和营销板块中。 OLCV的活动涉及二氧化碳封存服务和直接空气捕集技术，仍处于发展阶段，没有显着的营业收入或资产。 西方石油还确认，其没有与股权法投资相关的油气储备或生产。 公司已同意从未来的申报文件中删除不重要的股权法投资相关的参考。
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