occidental petroleum 2008

- Occidental Petroleum reported lower net income and core earnings for Q4 2008 compared to Q4 2007, due to lower oil and gas prices and higher operating expenses. However, full year 2008 was highly profitable, with record annual earnings. - For Q4 2008, daily oil and gas sales volumes were up slightly from the previous year, but earnings from oil and gas operations declined significantly due to lower commodity prices. - While Q4 results suffered from market conditions, Occidental emphasized that 2008 was still a very strong year overall and that they will invest $3.5 billion in 2009 to continue growth, despite volatile prices.