OXY · 8-K · 20260805PR053377

Midstream Capacity Optimization

OCCIDENTAL PETROLEUM CORP /DE/ · 2026-08-05 · Importance 77 · Surprise 82

Midstream and marketing results improved sequentially as crude margins benefited from the timing of crude sales. Gas margins also increased through transportation capacity optimizations, indicating active management of available logistics capacity. The business reported $1.3 billion of second-quarter pre-tax income and exceeded the high end of guidance on an adjusted basis.

Key facts

• Midstream and marketing pre-tax adjusted income exceeded the high end of guidance for the second quarter of 2026. source
• Quarter-over-quarter midstream improvement was driven by higher crude margins related to the timing of crude sales and higher gas margins from transportation capacity optimizations. source