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 grow oil and gas production, 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 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 Oxy quarterly financial data, click here.
$61.7 billion (market close on 12/31/12)
For 2012, Oxy achieved net income of $4.6 billion and diluted earnings per share were $5.67.
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.
(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, 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
(3) Includes production volumes of 5,000 barrels of oil equivalent per day (BOEPD) for 2010 related to the noncontrolling interest in a Colombian subsidiary
(4) All years exclude noncontrolling interest in a Colombian subsidiary.