Occidental Petroleum Corporation (NYSE: OXY), an international oil and gas exploration and production company, reported Thursday increase of first-quarter net income by 52%.
The increase is explained by higher oil and gas prices and larger output (more than 600,000 barrels of oil equivalent a day). Earlier oil and gas production was 560,000 barrels of oil equivalent a day.
This year Oxy estimated its net income of $1.85 billion, or $2.23 a share, in comparison to $1.21 billion, or $1.43 a share last year.
The largest oil producer in Texas underlined that only for 3 months it managed to up its revenue from $4 billion to $6 billion.
Occidental's worldwide effective tax rate rose to 42% from 37% last year, with total tax expense jumping to $1.29 billion from $684 million.
The discovery of the submarine has unveiled a few "inconsistencies." For example, how can one explain the fact that the sub was found where it needed to be searched for from the start?
This problem is not limited to the situation with the "whale prison" in Russia's Far East, because many people buy tickets to go to oceanariums and turn a blind eye to the problem