Name: Occidental Petroleum Corp. (NYSE:OXY) | Analysis of Revenues
Creator: Stock Analysis on Net

Analysis of Revenues

Revenues as Reported

Revenues as Reported

Download chart

Occidental Petroleum Corp., income statement, revenues

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Oil	18,544)	17,950)	21,356)	14,916)	9,888)
NGL	2,255)	1,991)	3,052)	2,528)	1,055)
Gas	875)	1,305)	2,733)	1,815)	986)
Other	31)	38)	24)	26)	66)
Oil and gas	21,705)	21,284)	27,165)	19,285)	11,995)
Chemical	4,920)	5,315)	6,738)	5,243)	3,726)
Midstream and marketing	1,653)	2,625)	3,755)	2,525)	2,167)
Eliminations	(865)	(899)	(1,424)	(1,094)	(758)
Revenue from customers	27,413)	28,325)	36,234)	25,959)	17,130)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Total revenue experienced significant volatility between 2020 and 2024, characterized by a rapid expansion that peaked in 2022 followed by a corrective decline and subsequent stabilization. Total revenue from customers rose from 17,130 million USD in 2020 to a high of 36,234 million USD in 2022, before contracting to 27,413 million USD by the end of 2024.

Oil and Gas Segment Trends: The oil and gas segment served as the primary driver of total revenue, showing a sharp increase from 11,995 million USD in 2020 to 27,165 million USD in 2022. Although revenues decreased in 2023, a slight upward trend emerged in 2024, with the segment reaching 21,705 million USD.
Commodity-Specific Analysis: Oil revenues demonstrated the most substantial absolute growth, peaking at 21,356 million USD in 2022 and maintaining a relatively strong position at 18,544 million USD in 2024. Natural Gas Liquids (NGL) followed a similar trajectory, peaking at 3,052 million USD in 2022. In contrast, Natural Gas revenues exhibited the highest degree of volatility; after rising from 986 million USD in 2020 to 2,733 million USD in 2022, they declined sharply to 875 million USD in 2024, falling below the 2020 starting level.
Chemicals and Midstream Performance: The chemical segment grew from 3,726 million USD in 2020 to a peak of 6,738 million USD in 2022, before gradually declining to 4,920 million USD in 2024. The midstream and marketing segment showed a more pronounced contraction in the latter part of the period, dropping from its 2022 peak of 3,755 million USD to 1,653 million USD in 2024, representing the most significant proportional decrease among the major business lines.
Intersegment Eliminations: Eliminations trended in alignment with the overall scale of operations, increasing from 758 million USD in 2020 to 1,424 million USD in 2022, and subsequently reducing to 865 million USD by 2024 as total revenue figures moderated.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?