OXY Profit Up 71 Percent; $2.23 vs $2.15

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Occidental Petroleum Corp. says its second-quarter profit jumped 71 percent as the company took advantage of higher oil prices.

The Los Angeles oil and natural gas producer reported earnings of $1.82 billion, or $2.23 per shareThat compares with $1.06 billion, or $1.31 per share, for the same part of 2010. Revenue increased 34 percent to $6.17 billion.

Most interesting data point: sold oil for an average of $1.03 in the second quarter. $1.03.