Occidental Petroleum Announces Dividend Increase and Strong Q2 2026 Results

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The company increased its quarterly dividend by 8% to $0.28 per share, payable on October 15, 2026, to stockholders of record as of September 10, 2026. Occidental also reduced its principal debt by $1.9 billion to $11.8 billion, advancing towards its $10.0 billion milestone. The company generated $5.1 billion of operating cash flow from continuing operations and delivered $3.0 billion of free cash flow before working capital from continuing operations, the highest level since the third quarter of 2022. Global production averaged 1,433 thousand barrels of oil equivalent per day (Mboed), exceeding the high end of guidance.

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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.