Daha Yüksek Petrol Fiyatları ve Orta Akım Kazançları Üzerindeki Occidental Kar Atlamaları

Occidental Profit Jumps on Higher Oil Prices and Midstream Gains

Thu, August 6, 2026 at 6:00 AM GMT+3 2 min read

Occidental Petroleum reported net income attributable to common shareholders of $2.8 billion for the second quarter of 2026, up from $288 million a year earlier.

Adjusted income from continuing operations rose to $2.4 billion, or $2.40 per diluted share, from $296 million, or $0.26 per share, in the same period of 2025.

The improvement was driven principally by higher realized crude prices and a sharp turnaround in Occidental's midstream and marketing operations.

Oil and gas pre-tax income reached $2.8 billion, compared with $1 billion in the first quarter. Occidental's average worldwide realized crude price increased 38% sequentially to $96.78 per barrel, reflecting average quarterly WTI and Brent benchmark prices of $92.79 and $97.06, respectively.

Lower U.S. natural gas prices provided a partial offset. Occidental recorded an average domestic realized gas price of negative $1.48 per thousand cubic feet during the quarter.

The midstream and marketing segment generated $1.3 billion in pre-tax income, reversing a pre-tax loss of $87 million in the previous quarter. Occidental attributed the change to higher crude margins associated with the timing of sales and improved gas margins from transportation-capacity optimization.

Global production averaged 1.433 million barrels of oil equivalent per day, above the upper end of the company's guidance and up from 1.395 million boe per day a year earlier. Operations in the Permian Basin and Gulf of America exceeded expectations.

Occidental generated $5.1 billion in operating cash flow from continuing operations. Operating cash flow before working-capital movements totaled $4.6 billion, while free cash flow before working capital reached $3 billion after $1.6 billion in capital spending. The company said this was its highest quarterly free cash flow on that basis since the third quarter of 2022.

Strong cash generation helped Occidental reduce principal debt by $1.9 billion during the quarter, bringing the balance down to $11.8 billion. The company is working toward a stated debt milestone of $10 billion.

Occidental also raised its quarterly dividend by a further 8% to $0.28 per share. The dividend is payable October 15 to shareholders of record on September 10.

By Charles Kennedy for Oilprice.com

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