Summary by Futu AI
Occidental Petroleum Corporation has submitted its specialized disclosure report, Form SD, to the United States Securities and Exchange Commission for the fiscal year ended December 31, 2023. The report, mandated by the Resource Extraction Payment Rules, details payments made to both the U.S. federal government and foreign governments for the commercial development of oil, natural gas, or minerals. Occidental's consolidated subsidiaries are included in this disclosure. Payments reported total $2,223,731,000 and are broken down by country, project, and type of payment, which includes fees, royalties, taxes, and bonuses. The payments are reported in U.S. dollars, with foreign currency payments converted at the exchange rate at the time of payment. The report also groups payments into projects based on political jurisdiction, resource type, and extraction method. Entity-level obligations are disclosed separately. The report was signed by Christopher O. Champion, Vice President, Chief Accounting Officer, and Controller of Occidental Petroleum Corporation, on September 26, 2024.
