Occidental’s success is built on strong partnerships, technical expertise and a proven ability to deliver superior operational 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. 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. We do this with an integrated business model that combines world-class assets and leadership in advancing a lower-carbon future.
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. Internationally, our assets are in Oman and the United Arab Emirates in the Middle East, Algeria in Africa and Colombia in Latin America, where we are regarded as a premier partner. We also operate a synergistic midstream business and a top-tier chemical business. With the acquisition of Anadarko, we are the:
Leading producer in the Permian Basin
#1 producer in the DJ Basin
#1 in carbon dioxide enhanced oil recovery projects
#1 independent producer in Oman
#4 in the Gulf of Mexico
- 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 committed to advancing the vision for a lower carbon world. We’re focused on reducing our total carbon impact by decreasing operational emissions, increasing energy efficiency, and capturing and retiring more carbon than our products create—and providing solutions to others looking to do the same. We are leveraging our expertise in carbon management and storage so that, over time, the energy and products we produce have a lower net-carbon intensity — with the ultimate goal of achieving net-zero emissions associated with our operations before 2040 and an ambition to achieve net-zero emissions associated with the use of our products by 2050.
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 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 Occidental consistently merits the confidence of our investors, employees, partners and other stakeholders around the world.
President and Chief Executive Officer