Clipped From The Des Moines Register
Occidental Petroleum has lower earnings Occidental Petroleum Corp., the nation's 13th largest oil company, said its third-quarter third-quarter third-quarter profits fell 13.3 percent to $115.8 million, or $1.15 a share, from $133.7 million, or $1.62 a share, a year earlier. . Sales for the period ended Sept 30 were $3.7 billion, up 23 percent from $3 billion a year ago. Earnings from oil and gas operations operations were down, the company said, because of slimmer profit margins and losses on sales of Libyan oil. Earnings from the company's coal and beef operations were up, Occidental Occidental said, but overall results were hurt by higher interest expenses and a worldwide surplus of crude oil Occidental owns Iowa Beef Processors Processors of Dakota City, Neb.