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Occidental Petroleum Corp. is a company in the energy sector, categorized within the integrated oil and gas industry. It was founded in 1920 by Armand Hammer.
Over the decades, the company became one of the leading producers of oil and natural gas in the United States, with operations in various strategic regions around the world.
This growth occurred through its activities in exploration, extraction, refining, and commercialization of oil and natural gas, in addition to investments in carbon capture and storage (CCS) technologies, aiming at a more sustainable energy transition model.
Its operations are concentrated in large reserves located in the United States, the Middle East, and Latin America, allowing for a diversified supply to the global market.
Meanwhile, Occidental Petroleum’s portfolio includes hydrocarbon production, chemical operations, and sustainable energy solutions, positioning the company as a pioneer in developing strategies to reduce carbon emissions and optimize operational efficiency.
To achieve this, the business model combines conventional and unconventional extraction (hydraulic fracturing), along with the commercialization of essential chemicals used across various industries.
The company serves both domestic and international markets, supplying crude oil, natural gas, and chemicals to refineries, energy distributors, petrochemical industries, and other corporate clients.
Commodity price volatility, regulatory changes, and technological advances are key factors that directly influence its performance and long-term strategy.
Occidental Petroleum continuously invests in modernizing its operations and developing carbon capture projects to meet global energy market demands and international environmental policies.
With 11,800 employees, the company maintains a robust operational structure, including exploration fields, refineries, and chemical facilities distributed across several strategic regions.
Its integrated operating model allows for greater control over the oil and gas value chain, ensuring efficiency and competitiveness in the market.
Occidental Petroleum is listed on the NYSE under the ticker OXY.
History and When Occidental Petroleum Corp. Was Founded
Occidental Petroleum Corp. was founded in 1920, in the United States, by Armand Hammer, initially as a small oil exploration company.
In its early years, it focused on domestic reserves, expanding operations as global energy demand increased. Growth was driven by the acquisition of oil assets and technological advances in extraction and refining.
Throughout the following decades, the company became a major oil and gas producer, investing in the expansion of its operations into strategic regions in the United States, the Middle East, and Latin America. During the 1980s and 1990s, Occidental Petroleum diversified its activities by incorporating chemical operations into its business structure.
With the acquisition of Hooker Chemicals, the company expanded its portfolio to include chemicals used in various industrial sectors, strengthening its role beyond the oil market.
In the decades that followed, starting in 2010, the company focused on modernizing its production and adopting sustainable practices, including the development of carbon capture and storage (CCS) technologies.
Later, growing concerns about sustainability and the energy transition led Occidental Petroleum to explore alternatives to reduce its carbon footprint while maintaining its competitive position in the sector.
Between 2020 and 2024, the company faced challenges such as oil price volatility and changes in environmental regulations but continued expanding its operations and investing in cleaner energy solutions.
The acquisition of strategic assets and the implementation of new technologies consolidated its position as one of the main players in the global energy market.
Additional Information
The Company Occidental Petroleum Corp. (United States), is listed on NYSE with a market cap of $ 40.86 Billions, having an equity of $ 36.77 Billions.
With a total of 11.800 employees, the company is listed in the sector of Energy and categorized in industry of Oil & Gas Integrated.
In the last 12 months the Company had a revenue of $ 26.60 Billions, which generated a profit in the amount of $ 2.10 Billions.
As for its main indicators, the Company has a P/E ratio of 19.48, a P/BV ratio of 1.11 and in the last 12 months the dividend yield of OXY was at 2.27%.
The Company is traded internationally through the ticker OXY.
