Occidental Petroleum Corporation's success is built on strong partnerships, technical expertise, business acumen and a proven ability to deliver superior results. We continually invest in the company and our employees, proactively innovate to improve processes and results, and strive to meet the highest standards of integrity and safety in the workplace.
Our overall strategy is to invest in projects that generate long-term value, achieve returns well above our cost of capital while maintaining a conservative balance sheet. Our company is uniquely situated, in terms of size and scale, between the peer groups of large integrated oil majors and the independent exploration and production companies – making it an attractive investment alternative that combines the positive elements of both groups.
We are primarily an oil producer. Our core U.S. operations are in the Permian Basin of West Texas and southeast New Mexico, where we have significant acreage and are the leading producer. Internationally, we are regarded as a premier partner in our focus areas of Oman, Qatar and the United Arab Emirates (UAE) in the Middle East, as well as in Colombia. We also have complementary midstream and world-class chemical businesses. This portfolio of assets provides robust free cash flow that requires modest capital investment, complemented by our high-growth unconventional oil and gas operations in the Permian Basin.
We are committed to conducting our business in a manner that safeguards our employees, protects the environment, benefits neighboring communities and strengthens regional economies. We take particular pride in Occidental’s safety record, which is exemplary not only in the oil and gas and chemicals industries, but compared to any industry sector. Our goal is to be a Partner of Choice®, everywhere we operate.
All of this is made possible by our talented global workforce of approximately 35,000 employees and contractors, who enable us to operate effectively in highly diverse cultural environments. As a company, we work hard to ensure that Occidental consistently merits the confidence of our investors, partners and other stakeholders around the world.
Vicki A. Hollub
President and Chief Executive Officer