Company Profile



Occidental Petroleum Corporation 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 gathers, processes, transports, stores, purchases and markets 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, click here.


    Market Capitalization [1]

    $56.4 billion (market close on 12/31/2017)


    Selected Financial Data [2]

    In millions, except per-share amounts

    2017201620152014

    2013

    ​Net sales

    ​$12,508

    $10,090​

    $12,480

    ​$19,312

    $20,170

    Net income

    1,311

    ​(574)

    (7,829)

    ​​616

    ​5,903

    EPS (diluted)

    1.70

    ​(0.75)

    (10.23)

    ​​0.79

    7.32

    Dividend per common share

    ​3.06

    ​3.02

    2.97

    ​​2.88

    ​2.56

    [1] 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.
    [2] 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      

    Thousand barrels of oil equivalent per day from ongoing operations

     

    201720162015

    ​% of 2017 Total

    ​United States [1]

    296

    273

    261

    50%

    Middle East [2]

    266

    268

    231

    45%

    Latin America

    32

    ​  34

      37

    5%

    Total

    594

    575

    529

    [1] Excludes sold domestic operations average daily production volumes of 2 MBOE, 31 MBOE and 44 MBOE for 2016, 2015 and 2014, respectively.
    [2] Excludes sold or exited MENA operations average daily production volumes of 26 MBOE, 72 MBOE and 67 MBOE for 2016, 2015, and 2014, respectively.

     

    Oil and Gas Proved Reserves       

    Millions barrels of oil equivalent

    ​​20172016

    2015

    ​% of 2017 Total

    United States

    ​1,555

    ​1,353

    1,271

    60%

    Middle East

    959

    ​981

    849

    37%

    Latin America

    84

    ​72

    80

    3%

    Total

    2,598

    ​2,406

    2,200

    Investor Relations Contacts
    Corporate Headquarters
    Occidental Petroleum Corporation
    5 Greenway Plaza, Suite 110
    Houston, Texas 77046-0506
    Investor Relations
    Jeff Alvarez - Vice President
    Neil Backhouse - Senior Director
    Email
    (713) 552-8811