Occidental Petroleum (NYSE:OXY), commonly known as Oxy, is an integrated energy company engaged in hydrocarbon exploration and production, chemicals manufacturing and midstream businesses. Headquartered in Houston, Texas, the company develops and produces oil and natural gas resources through operations in North America, Latin America, the Middle East and North Africa. Its upstream activities focus on unconventional and conventional plays, including the Permian Basin, DJ Basin, Eagle Ford Shale, Colombia and Oman.
In its upstream segment, Occidental employs enhanced oil recovery techniques, such as carbon dioxide injection, to maximize recovery from mature fields. The company holds one of the largest portfolios of carbon dioxide sources in the world, reflecting its emphasis on both resource development and carbon management. By leveraging CO₂ for tertiary recovery, Occidental aims to increase production efficiencies while advancing its sustainability initiatives.
Occidental’s chemical subsidiary, OxyChem, produces a range of basic chemicals and vinyls, including calcium chloride, chlorine, caustic soda, and polyvinyl chloride (PVC). These products serve diverse markets, from water treatment and construction to electronics and food processing. In addition, its midstream operations provide pipeline transportation, storage and terminalling services that connect upstream production to downstream markets, enhancing supply chain integration.
Founded in 1920 and led since 2016 by President and Chief Executive Officer Vicki Hollub, Occidental Petroleum has grown through strategic acquisitions and technological innovation. A milestone transaction occurred in 2019 with the acquisition of Anadarko Petroleum, which expanded the company’s asset base in the Permian Basin. With a century-long track record, Occidental continues to balance resource development with commitments to environmental stewardship and operational excellence.
