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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.

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

Key business strategy elements:

  • Grow oil and gas segment production through development programs focused on large, long-lived conventional and unconventional 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 Occidental quarterly financial data, click here.

Market Capitalization

$75.7 billion (market close on 12/31/2013)

Financial Performance

For 2013, Occidental achieved net income of $5.9 billion and diluted earnings per share were $7.32.

Selected Financial Data

In millions, except per-share amounts

 

2013

2012 

2011

2010

2009

Net sales

$24,455

$24,172

$23,939

$19,045

$14,814

Net income

5,903

4,598

6,771

4,530

2,915

EPS (diluted)

7.32

5.67

8.32

5.56

3.58

Dividend per common share

2.56

2.16

1.84

1.47

1.31

Note: Argentine operations were sold in February 2011 and have been reflected as discontinued operations for all periods.

Oil and Gas Highlights

Occidental's oil and gas assets are concentrated in three core areas — the United States, the Middle East region and Latin America.

Oil and Gas Production (1)

Thousand barrels of oil equivalent per day

 

2013

2012

2011

% of
Total

United States

474 465 428 62%

Middle East/North Africa

258 270 273 34%

Latin America 2

31 31 32 4%

Total 2

763 766 733  

Oil and Gas Proved Reserves (1)

Million barrels of oil equivalent

 

2013

2012

2011

% of
Total

United States

2,415 2,265 2,313 69%

Middle East/North Africa

976 929 762 28%

Latin America 2

92 102 101 3%

Total 2

3,483 3,296 3,176  

(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