Occidental Petroleum Reports Strong Q1 2026 Financial Results

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The company also reported strong operational performance, with total global production averaging 1,426 thousand barrels of oil equivalent per day (Mboed), exceeding the high end of guidance. Occidental further advanced its deleveraging program, repaying $7.1 billion of principal debt through May 5, 2026, and reducing principal debt to $13.3 billion. The company generated $1.4 billion of operating cash flow from continuing operations and $3.2 billion of operating cash flow before working capital.

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About Occidental Petroleum Corporation

Occidental Petroleum Corporation is a global energy producer, primarily focused on the exploration and production of oil and natural gas. Its operations span key regions such as the United States, the Middle East, and Latin America, contributing significantly to the energy supply chain. Aside from its core oil and gas activities, Occidental is actively engaged in chemical production through its subsidiary Occidental Chemical Corporation, which provides essential building blocks for a variety of industries, including agriculture, water treatment, and plastics. As a leader in its field, Occidental is committed to advancing sustainable and low-carbon energy solutions, notably through carbon capture and enhanced oil recovery techniques. The company plays a vital role in meeting global energy demands while striving to reduce environmental impact, thus positioning itself as a key player in the evolving energy landscape.