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Occidental reports bigger quarterly profit on oil price rise

May 4 Occidental Petroleum Corp on Thursday reported a 50 percent rise in quarterly profit, helped by the rise in oil prices.

The oil and gas producer's profit rose to $117 million, or 15 cents per share, in the first quarter, from $78 million, or 10 cents per share, a year earlier.

Production fell to 584,000 barrels of oil equivalent per day on average from 657,000 boe/d.

(Reporting by Swetha Gopinath in Bengaluru; Editing by Arun Koyyur)

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