More on Occidental Petroleum's (OXY) Q4 results: Net earnings plunged 79% Y/Y due to a writedown...

|About: Occidental Petroleum Corpor... (OXY)|By:, SA News Editor

More on Occidental Petroleum's (OXY) Q4 results: Net earnings plunged 79% Y/Y due to a writedown for the value of natural gas assets and as oil and nat gas prices continue to fall. Revenue in the oil and gas segment rose 1.9% as profit fell 79%. Chemical sales rose 4.3% while profit rose 25%. Average daily production was 779K boe/day, up 4.1% Y/Y. Shares +1.7% premarket.