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Access the latest oil prices, energy news, market data and industry analysis from leading journalists around the world.Oilprice covers the latest stories in Energy, Oil Price Analysis, Alternative Ene

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We bring energy and commitment to everything we do, driving innovation and excellence in our operations.

Lead with Passion

We consistently exceed standards and deliver results that set us apart in the industry.

Outperform Expectations

We commit to safe, efficient operations while reducing our carbon footprint and helping others do the same.

Deliver Results Responsibly

We identify and pursue new possibilities, from traditional energy to groundbreaking carbon management solutions.

Unleash Opportunities

We dedicate ourselves to making positive impacts on our communities, environment, and stakeholders.

Commit to Good

Occidental Petroleum Corporation (Oxy) is one of the largest U.S. oil and gas producers, engaged in hydrocarbon exploration and production across the United States and Middle East, with a strategic focus on the Permian Basin. The company is pioneering carbon management technologies through direct air capture (DAC) and carbon sequestration as part of its net-zero emissions strategy by 2050.

Berkshire Hathaway to Acquire OxyChem from Occidental for $9.7B

Vicki Hollub

President and Chief Executive Officer

Sunil Mathew

Senior Vice President and Chief Financial Officer

Robert Peterson

Senior Vice President (Former CFO)

Armand Hammer (Historical)

Former President and CEO (1957-1990)

Occidental Petroleum Corporation is an American company engaged in hydrocarbon exploration in the United States and the Middle East as well as petrochemical manufacturing in the United States, Canada, and Chile. It is incorporated under the Delaware General Corporation Law and headquartered in Houston. The company ranked 183rd on the 2021 Fortune 500 based on its 2020 revenues and 670th on the 2021 Forbes Global 2000.

https://en.wikipedia.org/wiki/Occidental_Petroleum

Occidental Petroleum completed the sale of its chemicals division, OxyChem, to Berkshire Hathaway for $9.7 billion in cash. This strategic divestiture allows Occidental to reduce debt, strengthen its balance sheet, and focus resources on core oil and gas operations and carbon management initiatives.

Occidental Completes Sale of OxyChem to Berkshire Hathaway for $9.7 Billion

Occidental's groundbreaking Stratos direct air capture facility in Ector County, Texas, began commercial operations, becoming the world's largest DAC plant. The $1.3 billion facility will capture 500,000 metric tons of CO2 annually, with committed customers including Amazon, Airbus, and TD Bank.

Stratos DAC Facility Enters Commercial Operations

Occidental announced record total company production of 1.33 million barrels of oil equivalent per day in 2024, exceeding the upper end of full-year guidance. The company also generated $4.9 billion in free cash flow and achieved its near-term debt repayment target seven months ahead of schedule.

Occidental Reports Record Production of 1.33 Million BOE Per Day in 2024

Occidental and BlackRock announced a joint venture to develop Stratos, with BlackRock investing $550 million (approximately 40% of total costs). The partnership represents one of the largest investments in direct air capture technology to date and will employ over 1,000 people during construction.

BlackRock and Occidental Form Joint Venture for Stratos DAC Plant

Occidental completed the acquisition of CrownRock, a Permian Basin producer, for $12 billion. The acquisition significantly expands Occidental's Permian footprint and increases proved reserves, strengthening its position as one of the leading producers in America's most productive oil field.

Occidental Completes $12 Billion CrownRock Acquisition

Occidental CEO Vicki Hollub received WPC Energy's prestigious Dewhurst Award in recognition of her leadership and contributions to the energy industry. Hollub was also elected to the National Academy of Engineering in 2024 for her leadership in energy management and carbon management advocacy.

Vicki Hollub Receives WPC Energy Dewhurst Award

Occidental signed a memorandum of understanding with TAE Technologies to explore commercial opportunities for using TAE's nuclear fusion technology to provide clean electricity and heat for Occidental's direct air capture projects, potentially revolutionizing the economics of carbon removal.

Occidental Partners with TAE Technologies on Fusion Energy for DAC

Occidental Petroleum CEO Vicki Hollub hosted a Trump fundraiser in 2024, gave $1M to Trump's inaugration, and openly praised the "Gulf of America" name change. Then, Trump cancelled a "woke" $500M Energy Dept. grant to Oxy's Corpus Christi, Tex. "King Ranch" carbon capture project.

Wollt ihr Mal was richtig affiges hören? Ich hab 500 Aktien von Occidental Petroleum gekauft weil ich davon ausgehe das der Orange dieses Wochenende den Iran angreift

Occidental Petroleum OXY

What is the point of the existence of Occidental Petroleum?

Occidental Petroleum (OXY) Surges 5.83% on Geopolitical Tensions – Analyst Upgrades and 2026 Outlook

Will Occidental Petroleum $OXY keep it's gains after the Iran war stops?

Occidental Petroleum long

What is the reason that Buffett said his company might 'own this stock forever' when talking about Occidental Petroleum?

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OCCIDENTAL PETROLEUM CORP /DE/

Occidental Petroleum was founded on September 22, 1920, in Los Angeles, California, focusing on domestic oil exploration and production in the Western United States. The company operated as a small, struggling oil enterprise for over three decades.

Company Founded in Los Angeles

Industrialist Armand Hammer acquired a controlling stake in the near-bankrupt Occidental Petroleum and became president and CEO, transforming the company from a struggling small operation into a major international oil corporation.

Armand Hammer Becomes President and CEO

Occidental discovered the Lathrop Gas Field in Lathrop, California, marking an important milestone in the company's early exploration success under Armand Hammer's leadership.

Lathrop Gas Field Discovery

Occidental won exploration rights in Libya, establishing a significant international presence. The company operated in Libya until 1986 when United States economic sanctions led to suspension of activities.

Libya Exploration Rights Secured

Occidental diversified beyond oil and gas by acquiring Hooker Chemical Company, establishing the chemical manufacturing division that would become OxyChem and expanding into polyvinyl chloride resins, chlorine, and caustic soda production.

Diversification into Chemicals

Occidental moved its corporate headquarters from Los Angeles to Houston, Texas, positioning itself at the center of America's energy industry with offices at 5 Greenway Plaza.

Headquarters Relocated to Houston

Vicki Hollub became president and CEO of Occidental Petroleum, making history as the first woman to lead a major American oil company. Her leadership has focused on operational excellence, debt reduction, and carbon management innovation.

Vicki Hollub Named CEO

Occidental completed the transformative $38 billion acquisition of Anadarko Petroleum, significantly expanding its Permian Basin footprint and establishing the company as a dominant player in America's most productive oil field.

Anadarko Petroleum Acquisition

Occidental acquired all outstanding equity of Carbon Engineering, a direct air capture technology company, for $1.1 billion, gaining access to groundbreaking carbon removal technology as part of its net-zero emissions strategy.

Carbon Engineering Acquisition

Occidental announced the $12 billion acquisition of CrownRock, a Permian producer, to further consolidate its position in the Permian Basin and expand proved reserves.

CrownRock Acquisition Announced

Occidental completed the $12 billion CrownRock acquisition, adding significant Permian Basin production capacity and expanding the company's proved reserves to 4.6 billion barrels of oil equivalent.

CrownRock Acquisition Completed

Occidental achieved record total company production of 1.33 million BOE per day in 2024, exceeding the upper end of full-year guidance and demonstrating operational excellence across its portfolio.

Record Production Achievement

Occidental sold its subsidiary OxyChem to Berkshire Hathaway (which owns 28% of Occidental's stock) for $9.7 billion in cash, enabling debt reduction and strategic focus on core oil and gas operations and carbon management.

OxyChem Sale to Berkshire Hathaway

Occidental's Stratos direct air capture facility in Ector County, Texas, began commercial operations, representing the world's largest DAC plant with capacity to capture 500,000 metric tons of CO2 annually. The $1.3 billion facility marks a major milestone in commercial carbon removal.

Stratos DAC Facility Operational

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