Occidental Petroleum

Occidental Petroleum is a global energy company specializing in exploration and production, as well as chemicals and refining operations.

#296

Rank

$56.41B

MarketCap US

US United States

Country

Summary

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. Its Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene. The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also trades around its assets consisting of transportation and storage capacity; and invests in entities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.


History

Occidental Petroleum Corporation first got its start in the United States in 1920 when founder Lloyd R. Tevis purchased the assets of the abandoned Mutual Oil Company in California. Tevis quickly built up the business and it was incorporated in California in 1928. The company soon established a foothold in Texas, Nevada, and Wyoming and continued to expand rapidly. In the 1950s and 1960s, Occidental Petroleum (OXY) became an important player in the oil and gas industry, moving into oil and gas exploration, development, and production, in addition to refining and petrochemicals. In the late 1970s and early 1980s, Occidental Petroleum diversified its energy operations, becoming the first major oil company to develop a major commercial presence in the Middle East and elsewhere. The company also began developing oil and gas production projects around the world, including in Colombia, China, Ecuador, Oman, and Peru, among others. In the 2000s, Occidental Petroleum moved aggressively into the US shale gas market and also began a major share repurchase program to maximize returns to shareholders. In 2020, Occidental Petroleum completed its acquisition of Anadarko Petroleum Corporation and became the second-largest oil and gas company in the United States.


Mission

At Occidental Petroleum, our mission is to create value and improved returns for our stockholders by safely and responsibly finding and producing oil and natural gas.


Vision

Our vision is to be a premier international oil and gas exploration and production company, delivering industry-leading total returns, providing value to our customers and employees, and positively impacting our communities and environment around the world.


Key Team

Carlos Gutierrez (Board Member)

Cedric Burgher (CFO)

Chairman Mikey (Chief Executive Officer)

Christopher Champion (VP/Chief Acctg Ofcr/Controller)

Dale Laurance (Board Member)

Don Moore (VP & CIO)

Donald Powers (Don) (Chief Process Engineer)

Edgar Camacho (Chief Tech Systems Architect)

Edward John Reyes Cpa (Chief Financial Officer & Senior Vice President)


Recognition and Awards
Occidental Petroleum recognizes outstanding employees who demonstrate excellence and commitment to the company’s goals and objectives with a variety of rewards and recognition programs. These rewards and recognitions include peer recognition awards, employee of the month awards, and safety awards.

References
Occidental Petroleum
Leadership team

Bader Al Kalbani (Chief Geologist)

Bao Changchang (Chief Executive Officer)

Products/ Services
Chemical substances
Number of Employees
1,000 - 20,000
Headquarters
Houston,Texas,U.S.
Established
1920
Company Registration
SEC CIK number: 0001023422
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
OXY
Social Media
Thu Apr 25 2024
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