Occidental Petroleum is an international oil and gas exploration and production company with operations in the United States, Middle East and Latin America. Headquartered in Houston, Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization.
Occidental’s midstream and marketing segment purchases, markets, gathers, processes, transports and stores hydrocarbons and other commodities in support of Occidental’s businesses.
Occidental's wholly owned subsidiary OxyChem manufactures and markets basic chemicals and vinyls.
Key business strategy elements:
Consistent dividend growth;
Value growth through oil and gas development that meets above cost-of-capital returns (ROE and ROCE) and return targets of greater than 15 percent and 20 percent for domestic and international projects, respectively;
Target growth rates of 5 percent to 8 percent average per year over the long-term; and
Maintain a strong balance sheet.
For Occidental quarterly financial data,
(market close on 12/31/2018)
Selected Financial Data
In millions, except per-share amounts
Dividend per common share
 Market capitalization is calculated by multiplying the year-end total shares of common stock outstanding, net of shares held as treasury stock, by the year-end closing stock price.
 See the MD&A section of the 10-K and the Notes to Consolidated Financial Statements for information regarding acquisitions and dispositions, discontinued operations and other items affecting comparability.
Oil and Gas Highlights
Occidental's oil and gas assets are concentrated in three core areas — the United States, the Middle East and Latin America.
Oil and Gas Production
Millions barrels of oil equivalent per day from ongoing operations
% of 2018 Total
Middle East 
 Excludes sold domestic operations average daily production volumes of 2 MBOE for 2016.
 Excludes sold or exited MENA operations average daily production volumes of 26 MBOE for 2016.
 Natural gas volumes have been converted to BOE based on energy content of six Mcf of gas to one barrel of oil. Barrels of oil equivalence does not necessarily result in price equivalence. Please refer to the "Supplemental Oil and Gas Information (unaudited)" section in the 10-K for additional information on oil and gas production and sales.
Oil and Gas Proved Reserves
Millions barrels of oil equivalent
% of 2018 Total