Occidental Petroleum Corp - Company Profile
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Business Description
Occidental Petroleum Corp (Oxy) businesses include oil and gas, chemical, and midstream and marketing operations. The oil and gas operations are primarily conducted in the US, the Middle East, and North Africa. Within the US, the company has operations in Colorado, New Mexico, Texas, and the Gulf of Mexico. Internationally, Oxy has operations in Algeria, Oman and the UAE. Under the OxyChem brand, the chemical operations own and operate manufacturing plants at 21 domestic sites in the US and two international sites in Canada and Chile. The midstream and marketing operations support and enhance Oxy’s oil and gas and chemical businesses, providing services to its subsidiaries and third parties.
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Business Segments
Overview
Manufactures and sells basic chemicals and vinyls through Occidental Chemical Corporation (Oxychem) Product portfolio includes chlorine, caustic soda, chlorinated organics, potassium chemicals, EDC, chlorinated isocyanurates, sodium silicates, calcium chloride, vinyl chloride monomers, polyvinyl chloride and ethylene. These products serve various industries such as water treatment, pharmaceuticals, pulp and paper production, aluminum production, refrigeration, silicones, fertilizers, batteries, soaps, detergents, specialty glass, swimming pool sanitation, disinfecting products, catalysts, paint pigments, ice melting, dust control, road stabilization, oil field services, building materials. Owns and operates manufacturing facilities in Alabama, Georgia, Illinois, Kansas, Louisiana, Michigan, New Jersey, Ohio, Tennessee and Texas; and internationally in Canada and Chile. The segment's strategy is to concentrate on the chlorovinyls chain, aiming to be a low-cost producer to generate cash flow in excess of its normal capital expenditure requirements and achieve above-cost-of-capital returns. In FY2024, the segment incurred a capital expenditure of US$685 million, which grew 28% YoY.
Performance
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Overview
The segment primarily supports and enhances its oil and gas and chemical businesses. It purchases, markets, gathers, processes, transports, and stores oil, NGL, natural gas, CO2, and power. The segment operates in the US, the Middle East, and North Africa, with operations primarily in Texas, New Mexico, Colorado, the UAE, Oman, and Algeria. The segment operates or contracts for services on gathering systems, gas plants, cogeneration facilities, and storage facilities. The segment's strategy is to optimize the use of its resources and provide access to domestic and international markets, generating returns by evaluating opportunities across the value chain. In FY2024, the segment incurred a capital expenditure of US$880 million, which grew 34.1% YoY.
Performance
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Overview
Includes acquisition, exploration, production and marketing of crude oil, natural gas, and natural gas liquids (NGLs) and condensate. It has oil and gas operations in the US, Middle East and North Africa Occidental’s international operations include Algeria, Colombia, Oman, Qatar and the UAE. US assets located in the Permian Basin, Rocky Mountain Region and Gulf Of Mexico. International assets include 18 fields in Blocks 404A and 208 in Algeria, Natural gas processing facility for Al Hosn Gas in UAE, Dolphin Energy Project in Qatar and working interest in eight blocks in Oman. The segment's strategy is to focus on long-term value creation, sustainability, health, safety, and the environment, leveraging its scale, technical expertise, and decades of high-margin inventory. In FY2024, the segment incurred a capital expenditure of US$5320 million, which grew 7.3% YoY.
Performance
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Geographical Segments
Performance
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Performance
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