Occidental Petroleum Corporation Provides Production and Financial Guidance for the First Quarter and Full Year of 2013
The company expects its combined worldwide tax rate for the first quarter of 2013 to increase to about 40%.
The company expects oil production for all 2013 to grow by about 8% to 10% from the 2012 average. With lower drilling on gas properties, the company expects gas and NGL production to decline somewhat.
The company expects production to be lower in the first quarter due to its planned turnaround in Qatar.