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.
$75.7 billion (market close on 12/31/2013)
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
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
Oil and Gas Proved Reserves (1)
Million barrels of oil equivalent
(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