Friday, January 19, 2018

Occidental Petroleum Swings to Quarterly Profit

Posted by August 2, 2017

U.S. oil producer Occidental Petroleum Corp said on Wednesday it swung to a profit in the second quarter, helped by a rise in oil prices.

The company posted net income of $507 million, or 66 cents per share, compared to a net loss of $139 million, or 18 cents per share, in the year-ago quarter. Production fell 8 percent to 601,000 barrels of oil equivalent per day.

(Reporting by Ernest Scheyder; Editing by James Dalgleish)

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