Occidental Petroleum (NYSE: OXY) is a multinational energy company engaged primarily in the exploration, production and marketing of oil and natural gas. Founded in 1920 and headquartered in Houston, Texas, the company has grown through strategic acquisitions and organic development of hydrocarbon reserves. Occidental operates across three core segments: oil and gas exploration and production, midstream logistics and marketing, and chemical manufacturing. The firm’s upstream activities encompass onshore and offshore assets, with a notable presence in the Permian Basin, the Rocky Mountains and the DJ Basin, where it employs advanced drilling and completion technologies to enhance recovery rates.
In its chemical segment, Occidental subsidiary OxyChem produces basic industrial chemicals and vinyls, including chlorine, caustic soda and ethylene dichloride. These products serve a wide range of end markets such as water purification, building and construction, packaging and transportation. The company’s midstream operations integrate gathering, processing and transportation services, enabling efficient delivery of hydrocarbons to domestic and international customers. Occidental also markets crude oil and natural gas liquids through tolling arrangements and offtake agreements, providing tailored solutions to refiners and petrochemical manufacturers.
Occidental has expanded its footprint beyond the United States through strategic investments in the Middle East and Latin America. In the Middle East, the company holds interests in several joint ventures focused on enhanced oil recovery (EOR) techniques, particularly carbon dioxide injection projects designed to maximize production from mature reservoirs. In Latin America, Occidental’s operations span offshore fields and onshore blocks, where it applies environmental management and community engagement programs to support sustainable development. The company’s global network of offices and logistic hubs facilitates integrated project management and supply chain optimization.
Under the leadership of President and Chief Executive Officer Vicki A. Hollub, Occidental has prioritized capital discipline, technological innovation and environmental stewardship. The company is recognized for its initiatives in carbon management, including direct air capture and CO₂ sequestration projects aimed at reducing greenhouse gas emissions. Occidental’s governance framework emphasizes safety, operational integrity and social responsibility, with board oversight committees focusing on risk management, sustainability and corporate compliance. Through its diversified portfolio and commitment to innovation, Occidental Petroleum continues to navigate the evolving energy landscape while advancing long-term value for stakeholders.
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