Occidental Petroleum Corp.

Financial Performance: Occidental Petroleum generated $4.9 billion of free cash flow in 2024, exceeding shareholder returns with approximately $800 million paid in dividends. The company achieved a target debt repayment of $4.5 billion seven months ahead of schedule, showcasing strong financial discipline.

Production Outlook: For 2025, Occidental expects average production to stabilize at approximately 1.42 million BOE per day, with a projected modest increase in oil volumes. This follows record production in Q4 2024 and is underpinned by a robust performance in the U.S. onshore, particularly in the Permian Basin.

Dividends and Capital Expenditures: The board has authorized a 9% increase in the common dividend, reflecting a commitment to returning capital to shareholders. Total capital expenditures for 2025 are projected between $7 billion and $7.2 billion, with a focus on short-cycle high-return assets, thereby ensuring sustainable cash flow.