Revenue

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue

NOTE 2 - REVENUE

Revenue from customers is recognized when obligations under the terms of a contract with our customers are satisfied; this generally occurs with the delivery of oil, NGL, gas, chemicals or services, such as transportation. As of June 30, 2022, trade receivables, net, of $6.4 billion represent rights to payment for which Occidental has satisfied its obligations under a contract and its right to payment is conditioned only on the passage of time.

The following table shows a reconciliation of revenue from customers to total net sales for the three and six months ended June 30, 2022 and 2021:

	Three months ended June 30,				Six months ended June 30,
millions	2022		2021		2022		2021
Revenue from customers	$	10,351	$	6,102	$	18,564	$	11,286
All other revenues (a)	325		(144)		461		(35)
Net sales	$	10,676	$	5,958	$	19,025	$	11,251

(a)    Includes net marketing derivatives, collars and calls and chemical exchange contracts in 2021 and the same in 2022 with the exception of the collars and calls which expired on or before December 31, 2021.

DISAGGREGATION OF REVENUE FROM CONTRACTS WITH CUSTOMERS

The table below presents Occidental's revenue from customers by segment, product and geographical area. The oil and gas segment typically sells its oil, NGL and gas at the lease or concession area. Chemical segment revenues are shown by geographic area based on the location of the sale. Excluding net marketing revenue, midstream and marketing segment revenues are shown by the location of sale:

millions	United States		International		Eliminations		Total
Three months ended June 30, 2022
Oil and gas
Oil	$	4,894	$	1,146	$	—	$	6,040
NGL	783		113		—		896
Gas	675		79		—		754
Other	5		1		—		6
Segment total	$	6,357	$	1,339	$	—	$	7,696
Chemical	$	1,810	$	98	$	—	$	1,908
Midstream and marketing	$	903	$	247	$	—	$	1,150
Eliminations	$	—	$	—	$	(403)	$	(403)
Consolidated	$	9,070	$	1,684	$	(403)	$	10,351
millions	United States		International		Eliminations		Total
Three months ended June 30, 2021
Oil and gas
Oil	$	3,028	$	683	$	—	$	3,711
NGL	472		78		—		550
Gas	311		76		—		387
Other	23		1		—		24
Segment total	$	3,834	$	838	$	—	$	4,672
Chemical	$	1,128	$	59	$	—	$	1,187
Midstream and marketing	$	322	$	152	$	—	$	474
Eliminations	$	—	$	—	$	(231)	$	(231)
Consolidated	$	5,284	$	1,049	$	(231)	$	6,102

millions	United States		International		Eliminations		Total
Six months ended June 30, 2022
Oil and gas
Oil	$	8,942	$	1,897	$	—	$	10,839
NGL	1,481		175		—		1,656
Gas	1,130		137		—		1,267
Other	7		2		—		9
Segment total	$	11,560	$	2,211	$	—	$	13,771
Chemical	$	3,412	$	179	$	—	$	3,591
Midstream and marketing	$	1,551	$	346	$	—	$	1,897
Eliminations	$	—	$	—	$	(695)	$	(695)
Consolidated	$	16,523	$	2,736	$	(695)	$	18,564

        

millions	United States		International		Eliminations		Total
Six months ended June 30, 2021
Oil and gas
Oil	$	5,492	$	1,232	$	—	$	6,724
NGL	856		130		—		986
Gas	564		140		—		704
Other	(8)		1		—		(7)
Segment total	$	6,904	$	1,503	$	—	$	8,407
Chemical	$	2,165	$	109	$	—	$	2,274
Midstream and marketing	$	819	$	283	$	—	$	1,102
Eliminations	$	—	$	—	$	(497)	$	(497)
Consolidated	$	9,888	$	1,895	$	(497)	$	11,286