Summary by Moomoo AI
Occidental Petroleum, a leading energy company, reported a year of mixed financial performance and strategic developments in its annual report. Financial Performance: Occidental's revenue for the year stood at $28.257 billion, a decrease from the previous year's $36.634 billion, primarily due to lower worldwide crude oil, domestic NGL, and natural gas commodity prices. The company's net income attributable to common stockholders was $3.773 billion, or $3.90 per diluted share, down from $12.504 billion, or $12.40 per diluted share in the prior year. The decrease in net income was largely due to lower commodity prices impacting the oil and gas segment and decreased demand for chemical products. Business Development: Occidental's oil and gas segment saw an increase in production volumes by 6% year-over...Show More