Oxy | At a Glance

Occidental Petroleum Corporation is an international oil and gas exploration and production company, and our OxyChem subsidiary is a major North American chemical manufacturer.

Oxy's business strategy is driven by a disciplined financial philosophy that balances profitability and growth while maintaining a strong balance sheet. Oxy is committed to using advanced technology to produce more oil and natural gas, while being a responsible steward of the environment.

Key business strategy elements:

Grow oil and gas production through development programs focused on large, long-lived oil and gas assets with long term growth potential, and acquisitions
Allocate and deploy capital with a focus on achieving returns well in excess of Occidental's cost-of-capital
Provide consistent dividend growth
Maintain financial discipline and a strong balance sheet

For Oxy quarterly financial data, click here.

Market Capitalization

$76 billion (market close on 12/31/11)

Financial Performance

For 2011, Oxy achieved net income of $6.8 billion and diluted earnings per share were $8.32.

Selected Financial Data

In millions, except per-share amounts

	2011	2010	2009	2008	2007
Net sales	$23,939	$19,045	$14,814	$23,713	$18,323
Net income¹	6,771	4,530	2,915	6,857	5,400
EPS (diluted)	8.32	5.56	3.58	8.34	6.42
Dividend per common share	1.84	1.47	1.31	1.21	0.94

Note: Argentine operations were sold in February 2011 and have been reflected as discontinued operations for all periods.
(1) Net income represents amounts attributable to common stock, after deducting noncontrolling interest amounts.

Oil and Gas Highlights

Oxy's oil and gas assets are concentrated in three core areas — the United States, Middle East/North Africa and Latin America.

Oil and Gas Production ⁽¹⁾

Thousand barrels of oil equivalent per day

	2011	2010	2009	% of 2011 Total
United States	428	384	377	59%
Middle East/North Africa	273	287	252	37%
Latin America^2,3	32	40	48	4%
Total^2,3	733	711	677

Oil and Gas Proved Reserves ⁽¹⁾

Million barrels of oil equivalent

	2011	2010	2009	% of 2011 Total
United States	2,313	2,203	2,072	73%
Middle East/North Africa	762	864	924	24%
Latin America^2,4	101	100	104	3%
Total^2,4	3,176	3,167	3,100

(1) Reflects production and proved reserves from continuing operations
(2) For all periods presented, excludes volumes from the Argentine operations sold in February 2011 and classified as discontinued operations
(3) Includes production volumes of 5,000 barrels of oil equivalent per day (BOEPD) and 6,000 BOEPD for 2010 and 2009, respectively, related to the former noncontrolling interest in a Colombian subsidiary
(4) The 2011 and 2010 amounts exclude the former noncontrolling interest in a Colombian subsidiary and the 2009 amount includes this interest.