Occidental reports growth in revenue

COLORADO — Occidental Petroleum Corp. (NYSE: OXY) posted a net balance of $33 billion in its annual report released Feb. 24. Colorado’s top oil producer’s share price jumped 21% to $46.79 in response to the report.

After a slump in revenue caused by the pandemic and related crashes in oil prices, Occidental’s balance rose 66% from $11 billion in 2020. In response to the pandemic, certain operations were conducted virtually to prevent transmission. 

Occidental employs more than 11,000 workers around the world and is Colorado’s top petroleum producer.

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