| REVENUE |
Revenue from customers is recognized when obligations under the terms of a contract with customers are satisfied; this generally occurs with the delivery of oil, NGL, gas, chemicals or services, such as transportation. As of June 30, 2025, trade receivables, net of $3.5 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, 2025 and 2024:
| | | | | | | | | | | | | | | | Three months ended June 30, | Six months ended June 30, | | millions | 2025 | 2024 | 2025 | 2024 | | | | | | | Revenue from customers | $ | 6,318 | | $ | 6,802 | | $ | 13,229 | | $ | 13,533 | | All other revenues (a) | 96 | | 15 | | (12) | | (741) | | | Net sales | $ | 6,414 | | $ | 6,817 | | $ | 13,217 | | $ | 12,792 | |
(a) Includes other net revenues from the midstream and marketing segment and chemical segment. 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. Midstream and marketing segment revenues are shown by the location of sale:
| | | | | | | | | | | | | | | | millions | United States | International | Eliminations | Total | | | | | | | Three months ended June 30, 2025 | | | | | | Oil and gas | | | | | | Oil | $ | 3,456 | | $ | 690 | | $ | — | | $ | 4,146 | | | NGL | 457 | | 86 | | — | | 543 | | | Gas | 205 | | 88 | | — | | 293 | | | Other | 26 | | 1 | | — | | 27 | | | Segment total | $ | 4,144 | | $ | 865 | | $ | — | | $ | 5,009 | | | Chemical | $ | 1,152 | | $ | 74 | | $ | — | | $ | 1,226 | | | | | | | | | | | | | | | | | | | | | | | Midstream and marketing | $ | 170 | | $ | 161 | | $ | — | | $ | 331 | | | Eliminations | $ | — | | $ | — | | $ | (248) | | $ | (248) | | | Consolidated | $ | 5,466 | | $ | 1,100 | | $ | (248) | | $ | 6,318 | | | | | | | | millions | United States | International | Eliminations | Total | | | | | | | Three months ended June 30, 2024 | | | | | | Oil and gas | | | | | | Oil | $ | 4,011 | | $ | 761 | | $ | — | | $ | 4,772 | | | NGL | 403 | | 97 | | — | | 500 | | | Gas | 67 | | 91 | | — | | 158 | | | Other | 39 | | — | | — | | 39 | | | Segment total | $ | 4,520 | | $ | 949 | | $ | — | | $ | 5,469 | | | Chemical | $ | 1,203 | | $ | 70 | | $ | — | | $ | 1,273 | | | | | | | | | | | | | | | | | | | | | | | Midstream and marketing | $ | 172 | | $ | 96 | | $ | — | | $ | 268 | | | Eliminations | $ | — | | $ | — | | $ | (208) | | $ | (208) | | | Consolidated | $ | 5,895 | | $ | 1,115 | | $ | (208) | | $ | 6,802 | |
| | | | | | | | | | | | | | | | millions | United States | International | Eliminations | Total | | | | | | | Six months ended June 30, 2025 | | | | | | Oil and gas | | | | | | Oil | $ | 7,286 | | $ | 1,365 | | $ | — | | $ | 8,651 | | | NGL | 1,035 | | 182 | | — | | 1,217 | | | Gas | 586 | | 172 | | — | | 758 | | | Other | 64 | | 2 | | — | | 66 | | | Segment total | $ | 8,971 | | $ | 1,721 | | $ | — | | $ | 10,692 | | | Chemical | $ | 2,266 | | $ | 147 | | $ | — | | $ | 2,413 | | | Midstream and marketing | $ | 344 | | $ | 299 | | $ | — | | $ | 643 | | | | | | | | | | | | | | | | | | | | | | | Eliminations | $ | — | | $ | — | | $ | (519) | | $ | (519) | | | Consolidated | $ | 11,581 | | $ | 2,167 | | $ | (519) | | $ | 13,229 | |
| | | | | | | | | | | | | | | | millions | United States | International | Eliminations | Total | | | | | | | Six months ended June 30, 2024 | | | | | | Oil and gas | | | | | | Oil | $ | 7,360 | | $ | 1,533 | | $ | — | | $ | 8,893 | | | NGL | 819 | | 196 | | — | | 1,015 | | | Gas | 254 | | 178 | | — | | 432 | | | Other | 44 | | — | | — | | 44 | | | Segment total | $ | 8,477 | | $ | 1,907 | | $ | — | | $ | 10,384 | | | Chemical | $ | 2,318 | | $ | 140 | | $ | — | | $ | 2,458 | | | Midstream and marketing | $ | 932 | | $ | 192 | | $ | — | | $ | 1,124 | | | | | | | | | | | | | | | | | | | | | | | Eliminations | $ | — | | $ | — | | $ | (433) | | $ | (433) | | | Consolidated | $ | 11,727 | | $ | 2,239 | | $ | (433) | | $ | 13,533 | |
|