Occidental Profits Jump 149%
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Occidental Petroleum Corp., the nation’s ninth-largest oil company, today announced that its profits jumped 149.6% and attributed the gain partially to the sale of 50% of its Colombian oil holdings.
Los Angeles-based Occidental had an earnings advance to $381.7 million, or $3.04 a share, from $152.9 million, or 90 cents a share, in the 1984 quarter. Amoco Corp., the nation’s fourth-largest oil company, reported its earnings declined 18%, primarily because of lower crude oil prices and higher foreign currency translation losses.
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