Occidental Petroleum Corp. reported a first-quarter loss...
- Share via
Occidental Petroleum Corp. reported a first-quarter loss of $40 million, blaming depressed prices for crude oil and chemicals.
The loss, the equivalent of 19 cents per share, compared to a profit of $80 million, or 25 cents per share, during the first quarter of 1993. Sales fell from $2.2 billion to $2.1 billion.
Earnings from the Los Angeles company’s oil and gas division fell from $53 million to $4 million, with substantially lower crude oil prices partially offset by higher domestic gas prices and international oil volumes.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
