Company Profile

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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, click here.


    Market Capitalization [1]

    $45.9 billion (market close on 12/31/2018)


    Selected Financial Data [2]

    In millions, except per-share amounts

    20182017201620152014

    ​Net sales

    $17,824​​

    ​$12,508

    $10,090​

    $12,480

    ​$19,312

    Net income

    ​​4,131

    ​1,311

    ​(574)

    (7,829)

    ​​616

    EPS (diluted)

    ​​​5.39

    ​1.70

    ​(0.75)

    (10.23)

    ​​0.79

    Dividend per common share

    ​​​​3.10

    ​3.06

    ​3.02

    2.97

    ​​2.88

    [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      

    Millions barrels of oil equivalent per day from ongoing operations

     

    2018​​20172016

    ​% of 2018 Total

    ​United States [1]

    ​​372​

    ​296

    273

    56.5%

    Middle East [2]

    254

    ​266

    268

    38.6%

    Latin America

    32

    ​32

    ​  34

    4.9%

    Total [3]

    65​

    ​594

    575

    [1] Excludes sold domestic operations average daily production volumes of 2 MBOE for 2016.
    [2] Excludes sold or exited MENA operations average daily production volumes of 26 MBOE for 2016.
    [3] 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​

    ​​2018​​20172016

    ​​% of 2018 Total

    United States

    ​​​1,711

    ​1,555

    ​1,353

    62.2%

    Middle East

    ​​​​943

    ​959

    ​981

    34.3%

    Latin America

    ​​​98

    ​84

    ​72

    3.6%

    Total

    ​​2,752

    ​2,598

    ​2,406

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