Occidental Petroleum

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.

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.

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.

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.