Price weakness whacks Occidental

by on July 26, 2012 12:07 pm BST

The weaker result came despite the independent recording its
second successive quarter of record production volumes.

Net profit for the three months to the end of June was $1.33
billion as compared with $1.82 billion a year earlier.

Revenues sank from $6.17 billion to $5.77 billion as the
realised price of oil and gas slumped.

Average production did, however, climb from 715,000 barrels
of oil equivalent per day to 766,000 boepd.

Domestic production was up 9% to 462,000 boepd.