Oxy Q3 Net Profit Doubles Q2 Due to Higher Energy Prices

SECAUCUS, NJ (DTN) –- Occidental Petroleum reported a third quarter 2025 net income of $661 million, more than double the $288 million in the second quarter, that it attributed to higher realized prices for crude oil and domestic gas.

Average worldwide realized crude oil prices increased by 2% to $64.78 bbl during the third quarter from the prior quarter, Occidental said in the earnings released Monday (11/10).

Average domestic realized gas prices increased by 11% to $1.48 per thousand cubic feet (Mcf) from the prior quarter.

Those increases helped Occidental offset the 5% decrease in average natural gas liquids worldwide prices to $19.60 bbl during the third quarter.

Total average global production for the quarter in review was 1.465 million barrels of oil equivalent per day (Mboed), exceeding its guidance for the period, Occidental said. Average production for Permian, Rockies & Other Domestic, Gulf of America and International were 800 Mboed, 288 Mboed, 139 Mboed and 238 Mboed, respectively.

Pre-tax earnings from midstream and marketing activity rose to $93 million during the third quarter from $49 million in the second.

Occidental’s chemical division reported a lower pre-tax profit of $197 million for the third quarter versus $213 million for the second.

The sale of OxyChem, announced on October 2, was “an important milestone in the strategic transformation” of Occidental that helped it to strengthen its balance sheet, President and CEO Vicki Hollub said.