OREANDA-NEWS. August 07, 2014. Occidental Petroleum Corporation (NYSE:OXY) announced net income for the second quarter of 2014 of USD 1.4 billion (USD 1.82 per diluted share), compared with USD1.3 billion (USD 1.64 per diluted share) for the second quarter of 2013.

Core income was USD 1.4 billion (USD 1.79 per diluted share) for the second quarter of 2014, compared with USD 1.3 billion (USD 1.58 per diluted share) for the second quarter of 2013.

In announcing the results, Stephen I. Chazen, President and Chief Executive Officer, said, "For the fourth consecutive quarter, we have delivered strong domestic oil production growth, with increases coming from both our Permian and California assets. Domestic oil production was 278,000 barrels per day for the second quarter of 2014. Excluding the effect from the Hugoton sale, domestic oil production increased 21,000 barrels per day from the second quarter of 2013 with our Permian Resources business growing its oil production by over 21 percent. For the first half of 2014, our cash flow from operations was USD 5.6 billion. Capital expenditures, net of contributions from partners, were USD 4.7 billion and we purchased approximately 16.6 million shares of our stock.”