Occidental cashes in on high oil prices
China Daily | Updated: 2008-07-25 07:47
|
Traders work in the crude oil futures pit at the New York Mercantile Exchange. Bloomberg News |
Occidental Petroleum Corp, the fourth-largest US oil company by market value, said second-quarter profit rose 63 percent as crude prices climbed above $140 a barrel for the first time.
Net income jumped to $2.3 billion, or $2.78 a share, from $1.41 billion, or $1.68, a year earlier, the Los Angeles-based company said yesterday.
Photo
