Key Takeaways Occidental cut $6.8B in debt in 10 months, reducing interest expenses and boosting net income. OXY raised its dividend 22% in 2024, backed by strong free cash flow from low-cost Permian operations. Carbon capture, OxyChem and global assets support cash flow diversification and dividend stability.Occidental Petroleum Corporation (OXY) , an upstream oil and gas producer with integrated midstream and chemical operations, has made notable progress in strengthening its balance sheet and sharehold ...