Occidental Petroleum Corporation ($OXY) reported its fourth-quarter earnings for 2024, revealing an adjusted earnings per share (EPS) of $0.80, which exceeded analysts' expectations by $0.13. However, the company's revenue fell to $6.76 billion, a decrease of 10.21% year-over-year, and missed projections by $380 million. The results were impacted by a $1.1 billion after-tax environmental liability charge. Production for the quarter reached 1,463 thousand barrels of oil equivalent per day (Mboed), surpassing guidance. Looking ahead, Occidental anticipates an average production of approximately 1.42 Mboed for the full year, with the first quarter expected to represent a low point in production, followed by a significant uplift in the second half of the year. The company also noted that severe winter weather had a detrimental effect on its Permian production in January.