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LOS ANGELES (AP) - Occidental Petroleum Corp. said Tuesday that higher oil and gas prices drove up its first quarter profits by 74 percent.
Quarterly income grew to $846 million, or $2.11 per share, from $487 million, or $1.24 per share, in the year-ago period. Excluding one-time items, core earnings amounted to $866 million, or $2.16 per share, the company said.
Occidental's earnings compare with the average estimate of $1.99 per share from analysts surveyed by Thomson Financial.
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