Occidental Petroleum Reports Q3 Earnings and Strategic Moves

Occidental Petroleum Corp. ( (OXY) ) has released its Q3 earnings. Here is a breakdown of the information Occidental Petroleum Corp. presented to its investors.

Occidental Petroleum Corporation, a prominent player in the oil and gas industry, is engaged in the exploration and production of oil and natural gas, as well as chemical manufacturing and midstream operations. Headquartered in Houston, Texas, the company is known for its strategic acquisitions and significant presence in the Permian Basin.

In its latest quarterly earnings report, Occidental Petroleum Corp. reported a net income of $842 million for the third quarter of 2025, a decrease from $1,140 million in the same period last year. The company’s total revenues for the quarter were $6.717 billion, reflecting a decline from $7.154 billion in the previous year. Despite the drop in earnings, Occidental continues to focus on strategic divestitures and acquisitions to streamline its operations and strengthen its financial position.

Key financial highlights include a reduction in long-term debt from $24.978 billion at the end of 2024 to $20.846 billion as of September 30, 2025, indicating the company’s efforts to improve its balance sheet. Additionally, Occidental completed several asset sales, including interests in the Permian Basin and the DJ Basin, generating significant proceeds. The company also announced a major transaction involving the sale of its chemical subsidiary, OxyChem, to Berkshire Hathaway for $9.7 billion, expected to close in the fourth quarter of 2025.

Looking ahead, Occidental Petroleum Corp. remains focused on reducing its debt and optimizing its asset portfolio. The management’s strategic initiatives, including the divestiture of non-core assets and the continued development of its core operations, are expected to position the company for long-term growth and stability in the evolving energy market.