Occidental’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, achieving returns well above our cost of capital. Maintaining a strong balance sheet ensures our ability to thrive through the cycles. We are focused on value-added growth, which we achieve through our portfolio of high-quality assets, track record of operational excellence, and commitment to capital discipline and growing the dividend. We do this with an integrated business model that combines competitive financial returns, world-class assets and leadership in advancing a lower-carbon future.
Occidental is 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 largest oil producer, and in the DJ Basin in Colorado and the Uinta Basin of Utah. Internationally, we are regarded as a premier partner in Oman and the United Arab Emirates in the Middle East, and Colombia in Latin America. We also operate a synergistic midstream business and a top-tier chemical business. With the acquisition of Anadarko, we are the:
#1 producer in the Permian, DJ and Uinta Basins
#1 in carbon dioxide enhanced oil recovery projects
#1 independent producer in Oman
#4 in the Gulf of Mexico
Leading position in Colombia
Top three producer of PVC, chlorine and caustic soda
Occidental is focused on the long-term sustainability of our business and we aspire to be the first oil and gas company to attain carbon neutrality. Our Oxy Low Carbon Ventures subsidiary is prioritizing projects to decrease our carbon footprint and has created a business model to help other companies lower theirs. We are working aggressively to reduce all greenhouse gases, not just carbon dioxide.
Social responsibility is fundamental to our success and reputation as a respected Partner of Choice®. We are committed to conducting our business in a manner that safeguards our employees, protects the environment, benefits neighboring communities and strengthens local 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.
All of this is made possible by our talented global workforce, which enables 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.
President and Chief Executive Officer