Editing Occidental Petroleum (section)

==History==
Occidental Petroleum was founded in Los Angeles, CA in 1920.<ref>{{Cite web |title=Occidental Petroleum Corporation {{!}} American company {{!}} Britannica |url=https://www.britannica.com/topic/Occidental-Petroleum-Corporation |access-date=2023-03-27 |website=www.britannica.com |language=en}}</ref> In 1957, [[Armand Hammer]] became the company's president and CEO after acquiring a controlling stake.<ref>{{cite book |date=2011 |editor-last=Hastedt |editor-first=Glenn |title=Spies, Wiretaps, and Secret Operations; An Encyclopedia of American Espionage: Hammer, Armand   |publisher=ABC-CLIO |pages=[https://archive.org/details/spieswiretapssec0000unse/page/354/mode/2up 354–355]}}</ref> The 1960s marked a period of expansion as Occidental established operations in [[Peru]], [[Venezuela]], [[Bolivia]], [[Trinidad]], and the [[United Kingdom]].{{citation needed|date=March 2023}} In 1961, the company discovered the Lathrop Gas Field in [[Lathrop, California]].<ref name="moscow">{{Cite news |last=McCormick |first=Lynde |date=July 3, 1980 |title=Deal-maker Armand Hammer Moscow's capitalist comrade |url=https://www.csmonitor.com/1980/0703/070362.html |url-status=live |archive-url=https://web.archive.org/web/20210119025522/https://www.csmonitor.com/1980/0703/070362.html |archive-date=January 19, 2021 |access-date=October 23, 2017 |work=[[The Christian Science Monitor]]}}</ref>

In 1965, Occidental won exploration rights in [[Libya]],<ref name="moscow" /> where it operated until 1986 when United States economic sanctions led to the suspension of activities.<ref name="libya">{{Cite news |last=MILLER |first=JUDITH |date=January 30, 1986 |title=OIL OFFICIALS ARE SAID TO LEAVE LIBYA |url=https://www.nytimes.com/1986/01/30/business/oil-officials-are-said-to-leave-libya.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20190423185044/https://www.nytimes.com/1986/01/30/business/oil-officials-are-said-to-leave-libya.html |archive-date=April 23, 2019 |access-date=December 28, 2017 |work=[[The New York Times]]}}</ref> The company diversified in 1968 by entering the chemical business with the acquisition of [[Hooker Chemical Company]], following the [[Love Canal]] contamination incident.<ref name="love">{{Cite news |last=WALD |first=MATTHEW L. |date=June 22, 1994 |title=Out-of-Court Settlement Reached Over Love Canal |url=https://www.nytimes.com/1994/06/22/nyregion/out-of-court-settlement-reached-over-love-canal.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20171024043826/http://www.nytimes.com/1994/06/22/nyregion/out-of-court-settlement-reached-over-love-canal.html |archive-date=October 24, 2017 |access-date=December 28, 2017 |work=[[The New York Times]]}}</ref>

In 1971, Occidental received approval to build an [[oil refinery]] in [[Canvey Island]] in [[Essex, England]], but construction ceased in 1975 due to the [[1970s energy crisis]]. The site remained derelict; the tanks and the chimney were subsequently demolished. Only some concrete foundations and the river jetty remain extant.<ref>{{Cite web |title=Stock Photo - The remains of the Occidental Petroleum Jetty on Canvey Island in Essex |url=https://www.alamy.com/stock-photo-the-remains-of-the-occidental-petroleum-jetty-on-canvey-island-in-38011340.html |url-status=live |archive-url=https://web.archive.org/web/20190423201847/https://www.alamy.com/stock-photo-the-remains-of-the-occidental-petroleum-jetty-on-canvey-island-in-38011340.html |archive-date=April 23, 2019 |access-date=February 28, 2019}}</ref>

In 1973, Occidental negotiated a phosphate-for-natural-gas deal with the Soviet Union, in which the Hammer-controlled firms Occidental Petroleum and [[Cyrus S. Eaton#Tower International|Tower International]] would export to the Soviet Union [[phosphate]], which Occidental mined in northern Florida, in return for the Soviet Union exporting from [[Odessa]] and [[Ventspils]] through Hammer's firms [[natural gas]] that would be converted into [[ammonia]], [[potash]], and [[urea]].<ref>{{Cite news |last=Smith |first=Hedrick |date=1973-04-13 |title=Soviet and Occidental Oil In Multibillion-Dollar Deal |url=https://www.nytimes.com/1973/04/13/archives/soviet-and-occidental-oil-in-multibilliondollar-deall-20year-barter.html |url-status=live |archive-url=https://web.archive.org/web/20211109024328/https://www.nytimes.com/1973/04/13/archives/soviet-and-occidental-oil-in-multibilliondollar-deall-20year-barter.html |archive-date=November 9, 2021 |access-date=2021-11-09 |work=The New York Times |language=en-US |issn=0362-4331}}</ref><ref name=":0">{{Cite news |date=1981-11-29 |title=THE RIDDLE OF ARMAND HAMMER |url=https://www.nytimes.com/1981/11/29/magazine/the-riddle-of-armand-hammer.html |url-status=live |archive-url=https://web.archive.org/web/20211217222637/https://www.nytimes.com/1981/11/29/magazine/the-riddle-of-armand-hammer.html |archive-date=December 17, 2021 |access-date=2021-12-06 |work=The New York Times |language=en-US |issn=0362-4331}}</ref> The total value of this trade was estimated at $20 billion. The construction of Soviet port facilities, designed by Hammer's firms, was partially financed by the [[Export–Import Bank of the United States|Export-Import Bank]] as endorsed by [[Richard Nixon|Nixon]].<ref>{{Cite news |last=Smith |first=Hedrick |date=1974-06-29 |title=OCCIDENTAL SIGNS DEAL WITH SOVIET |url=https://www.nytimes.com/1974/06/29/archives/occidental-signs-deal-with-soviet-4-contracts-are-activated-in-a.html |url-status=live |archive-url=https://web.archive.org/web/20211206033540/https://www.nytimes.com/1974/06/29/archives/occidental-signs-deal-with-soviet-4-contracts-are-activated-in-a.html |archive-date=December 6, 2021 |access-date=2021-12-06 |work=The New York Times |language=en-US |issn=0362-4331}}</ref><ref name=":0" />

In August 1973, Libya nationalized 51% of Occidental's assets in the country.<ref name=":1">{{Cite news |date=8 February 1974 |title=Occidental-Libya Exploration Pact Set |url=https://www.nytimes.com/1974/02/08/archives/occidentallibya-exploration-pact-set.html |url-status=live |archive-url=https://web.archive.org/web/20221011054821/https://www.nytimes.com/1974/02/08/archives/occidentallibya-exploration-pact-set.html |archive-date=11 October 2022 |access-date=3 February 2022 |work=The New York Times |language=en-US |issn=0362-4331}}</ref> In February 1974, the company announced a 35-year oil exploration agreement with Libya. 81% of the oil extracted by Occidental Petroleum was to go to the Libyan government, with 19% retained by Occidental Petroleum.<ref name=":1" /> In 1986, the company suspended operation in the country due to economic sanctions imposed by the United States. In 2005, Occidental and its partner, Liwa, won 8 out of 15 exploration spots on the EPSA-4 auction, making both companies among the first to enter the Libyan market since the United States lifted its embargo on Libya.<ref>{{Cite news |date=January 23, 2016 |title=Occidental not planning to divest assets in Oman, Abu Dhabi and Qatar: Occidental chief |url=https://timesofoman.com/article/75987/Business/Occidental-not-planning-to-divest-assets-in-Oman-Abu-Dhabi-and-Qatar:-Occidental-chief |url-status=live |archive-url=https://web.archive.org/web/20200417013243/https://timesofoman.com/article/75987/Business/Occidental-not-planning-to-divest-assets-in-Oman-Abu-Dhabi-and-Qatar:-Occidental-chief |archive-date=April 17, 2020 |access-date=February 28, 2019 |work=[[Times of Oman]]}}</ref>

The company was one of the first companies to research developing [[oil shale]].<ref>{{Cite book |url=https://books.google.com/books?id=ZbB-GLUUie8C |title=A Preliminary Assessment of the Environmental Impacts from Oil Shale Developments |date=1977 |publisher=[[United States Environmental Protection Agency]] |access-date=October 23, 2017 |archive-url=https://web.archive.org/web/20210225215854/https://books.google.com/books?id=ZbB-GLUUie8C |archive-date=February 25, 2021 |url-status=live}}</ref>

In 1983, Occidental and [[Ecopetrol]], the [[Colombia]]n state-owned oil company, discovered the giant [[Caño Limón oilfield]] in [[Arauca Department|Arauca]].<ref>{{Cite news |date=July 16, 2003 |title=Occidental to invest $80M in Colombia |url=https://www.bizjournals.com/losangeles/stories/2003/07/14/daily31.html |url-status=live |archive-url=https://web.archive.org/web/20051211025149/http://www.bizjournals.com/losangeles/stories/2003/07/14/daily31.html |archive-date=December 11, 2005 |access-date=October 23, 2017 |work=[[American City Business Journals]]}}</ref> In July 1996, the company sold its interest in 3 oilfields in the Congo to the Congolese government for $215 million.<ref>{{Cite news |date=February 14, 1996 |title=Occidental Petroleum Announces Layoffs |url=https://www.nytimes.com/1996/07/31/business/company-news-occidental-petroleum-sells-stake-in-oilfields-to-congo.html |url-status=live |archive-url=https://web.archive.org/web/20200917070737/https://www.nytimes.com/1996/07/31/business/company-news-occidental-petroleum-sells-stake-in-oilfields-to-congo.html |archive-date=September 17, 2020 |access-date=December 28, 2017 |work=[[The New York Times]] |agency=[[Bloomberg News]]}}</ref> The following year, it paid $3.65 billion to acquire the [[Elk Hills Oil Field]].<ref>{{Cite news |last=KRAUL |first=CHRIS |date=October 7, 1997 |title=Occidental's $3.7-Billion Bid Buys Elk Hills Field |url=https://www.latimes.com/archives/la-xpm-1997-oct-07-mn-40208-story.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20201226121207/https://www.latimes.com/archives/la-xpm-1997-oct-07-mn-40208-story.html |archive-date=December 26, 2020 |access-date=March 15, 2020 |work=[[Los Angeles Times]]}}</ref>

In 1986, the company formed a joint venture with [[Church & Dwight]], which makes [[Arm & Hammer]] products, for a potassium carbonate plant at [[Muscle Shoals, Alabama]].<ref>{{Cite news |date=September 23, 1986 |title=Armand Hammer to Own Pinch of Arm & |url=https://www.washingtonpost.com/archive/business/1986/09/23/armand-hammer-to-own-pinch-of-arm-38/7b829ee6-3e53-4373-b470-de1f3519b1f9/ |url-status=live |archive-url=https://web.archive.org/web/20201106101631/https://www.washingtonpost.com/archive/business/1986/09/23/armand-hammer-to-own-pinch-of-arm-38/7b829ee6-3e53-4373-b470-de1f3519b1f9/ |archive-date=November 6, 2020 |access-date=October 23, 2017 |newspaper=[[The Washington Post]]}}</ref>

On July 6, 1988, an explosion and subsequent inferno on the company's [[Piper Alpha]] platform in the Scottish North Sea, resulted in 167 fatalities in what remains the world's most deadly offshore disaster.<ref name="piper">{{Cite news |last=Duff |first=Steven |date=June 6, 2008 |title=Remembering Piper Alpha disaster |url=http://news.bbc.co.uk/2/hi/uk_news/scotland/7438774.stm |url-status=live |archive-url=https://web.archive.org/web/20201021080152/http://news.bbc.co.uk/2/hi/uk_news/scotland/7438774.stm |archive-date=October 21, 2020 |access-date=July 28, 2011 |work=[[BBC News]]}}</ref>

In 1990, Armand Hammer died and [[Ray R. Irani]] became chairman and chief executive officer of the company.<ref>{{Cite news |last=PACE |first=ERIC |date=December 12, 1990 |title=Armand Hammer Dies at 92; Industrialist and Philanthropist Forged Soviet Links |url=https://www.nytimes.com/1990/12/12/obituaries/armand-hammer-dies-at-92-industrialist-and-philanthropist-forged-soviet-links.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20201125131833/https://www.nytimes.com/1990/12/12/obituaries/armand-hammer-dies-at-92-industrialist-and-philanthropist-forged-soviet-links.html |archive-date=November 25, 2020 |access-date=December 28, 2017 |work=[[The New York Times]]}}</ref><ref>{{Cite news |date=December 14, 1990 |title=Ray Irani Officially Named Oxy Chairman |url=https://www.latimes.com/archives/la-xpm-1990-12-14-fi-6585-story.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20210225220030/https://www.latimes.com/archives/la-xpm-1990-12-14-fi-6585-story.html |archive-date=February 25, 2021 |access-date=March 15, 2020 |work=[[Los Angeles Times]]}}</ref> In 1991, Occidental sold its  stake in [[IBP, Inc.]]<ref name="ibp" /> In 1993, the company sold its remaining coal operations.<ref name="coal">{{Cite news |date=April 16, 1993 |title=OCCIDENTAL PETROLEUM SHEDS ITS LAST COAL COMPANY |url=https://www.nytimes.com/1993/04/16/business/company-news-occidental-petroleum-sheds-its-last-coal-company.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20190423190615/https://www.nytimes.com/1993/04/16/business/company-news-occidental-petroleum-sheds-its-last-coal-company.html |archive-date=April 23, 2019 |access-date=March 4, 2017 |work=[[The New York Times]]}}</ref>

In 2006, the government of [[Ecuador]] seized the company's interest in block 15 of the [[Amazon Rainforest]], forcing the company to take a $306 million after-tax charge.<ref>{{Cite news |date=May 17, 2006 |title=Ecuador Cancels an Oil Deal With Occidental Petroleum |url=https://www.nytimes.com/2006/05/17/business/worldbusiness/17oil.html |url-status=live |archive-url=https://web.archive.org/web/20190507092351/https://www.nytimes.com/2006/05/17/business/worldbusiness/17oil.html |archive-date=May 7, 2019 |access-date=December 28, 2017 |work=[[The New York Times]] |agency=[[Reuters]]}}</ref><ref>{{Cite news |date=July 5, 2006 |title=Occidental Petroleum takes $306M charge on Ecuador operations |url=https://www.bizjournals.com/losangeles/stories/2006/07/03/daily19.html |url-status=live |archive-url=https://web.archive.org/web/20081118211624/http://www.bizjournals.com/losangeles/stories/2006/07/03/daily19.html |archive-date=November 18, 2008 |access-date=October 23, 2017 |work=[[American City Business Journals]]}}</ref> In 2016, Ecuador agreed to pay $980 million in restitution to the company, down from the original award of $1.77 billion. The agreement was based on a 2012 arbitration award from the [[International Center for Settlement of Investment Disputes]].<ref>{{Cite news |last=Valenci |first=Alexandra |date=January 13, 2016 |title=Ecuador to pay $980 million to Occidental for asset seizure |url=https://www.reuters.com/article/ecuador-occidental/ecuador-to-pay-980-million-to-occidental-for-asset-seizure-idUSL2N14X0U420160113 |url-status=live |archive-url=https://web.archive.org/web/20201028005040/https://www.reuters.com/article/ecuador-occidental/ecuador-to-pay-980-million-to-occidental-for-asset-seizure-idUSL2N14X0U420160113 |archive-date=October 28, 2020 |access-date=October 23, 2017 |work=[[Reuters]]}}</ref>

In 2007, Occidental's compensation policies came under scrutiny after it was announced that Irani received $460 million in compensation in 2006.<ref>{{Cite news |last=Douglas |first=Elizabeth |date=April 7, 2007 |title=Occidental CEO's 2006 paycheck: $460 million |url=https://www.latimes.com/archives/la-xpm-2007-apr-07-fi-irani7-story.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20200924155325/https://www.latimes.com/archives/la-xpm-2007-apr-07-fi-irani7-story.html |archive-date=September 24, 2020 |access-date=March 15, 2020 |work=[[Los Angeles Times]]}}</ref> In May 2011, Irani retired as CEO after [[CalSTRS]] and Relational Investors, two major shareholders, objected to the company's compensation policies for top executives.<ref name="iraniret">{{Cite news |last=Driver |first=Anna |date=August 31, 2010 |title=Occidental's Irani to retire as CEO in 2011: report |url=https://www.reuters.com/article/us-occidental/occidentals-irani-to-retire-as-ceo-in-2011-report-idUSTRE67U5WI20100831 |url-status=live |archive-url=https://web.archive.org/web/20190804172325/https://www.reuters.com/article/us-occidental/occidentals-irani-to-retire-as-ceo-in-2011-report-idUSTRE67U5WI20100831 |archive-date=August 4, 2019 |access-date=March 4, 2018 |work=[[Reuters]]}}</ref> President Stephen I. Chazen was named CEO to replace Irani and in 2013, shareholders ousted Irani as chairman.<ref>{{Cite news |last1=Li |first1=Shan |last2=White |first2=Ronald D. |date=May 4, 2013 |title=Occidental Petroleum Chairman Ray Irani ousted at annual meeting |url=https://www.latimes.com/business/la-xpm-2013-may-04-la-fi-occidental-irani-20130504-story.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20210225220214/https://www.latimes.com/business/la-xpm-2013-may-04-la-fi-occidental-irani-20130504-story.html |archive-date=February 25, 2021 |access-date=March 15, 2020 |work=[[Los Angeles Times]]}}</ref> Despite his outlandish compensation, during Irani's tenure, the company grew from a collection of unrelated businesses to one that focuses on oil and gas and the [[market capitalization]] of the company went from $5.5 billion to $80 billion.<ref>{{Cite news |last=Corkery |first=Michael |date=August 3, 2010 |title=Is Occidental's Irani Worth His Big Pay Check? |url=https://blogs.wsj.com/deals/2010/08/03/is-occidentals-irani-worth-his-big-pay-check/ |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20190804171545/https://blogs.wsj.com/deals/2010/08/03/is-occidentals-irani-worth-his-big-pay-check/ |archive-date=August 4, 2019 |access-date=August 4, 2017 |work=[[The Wall Street Journal]]}}</ref><ref>{{Cite news |last=Groom |first=Nichola |date=May 6, 2011 |title=Occidental stockholders want say on pay every year |url=https://www.reuters.com/article/occidentalpetroleum/update-1-occidental-stockholders-want-say-on-pay-every-year-idUSN0618328020110506 |url-status=live |archive-url=https://web.archive.org/web/20190804133023/https://www.reuters.com/article/occidentalpetroleum/update-1-occidental-stockholders-want-say-on-pay-every-year-idUSN0618328020110506 |archive-date=August 4, 2019 |access-date=October 23, 2017 |work=[[Reuters]]}}</ref>

In December 2010, Occidental acquired shale oil properties in the [[Williston Basin]] in [[North Dakota]] for $1.4 billion.<ref>{{Cite news |last=Smith |first=Nick |date=December 13, 2010 |title=Occidental buys land for $1.4 billion |url=https://www.willistonherald.com/news/occidental-buys-land-for-billion/article_5a3e702d-b7f6-56a4-ab17-324666a0bfa8.html |url-status=live |archive-url=https://web.archive.org/web/20210225220143/https://www.willistonherald.com/news/occidental-buys-land-for-billion/article_5a3e702d-b7f6-56a4-ab17-324666a0bfa8.html |archive-date=February 25, 2021 |access-date=February 28, 2019 |work=[[Williston Herald]]}}</ref> These assets, as well as other assets acquired by Oxy in the Williston Basin, were sold in 2015 for $600 million.<ref>{{Cite news |last1=Scheyder |first1=Ernest |last2=Stone |first2=Mike |date=October 15, 2015 |title=Exclusive: Oxy to exit North Dakota's oil fields in sale to private equity fund |url=https://www.reuters.com/article/us-limerock-occidental-bakken/exclusive-oxy-to-exit-north-dakotas-oil-fields-in-sale-to-private-equity-fund-idUSKCN0S92QR20151015 |url-status=live |archive-url=https://web.archive.org/web/20190804153401/https://www.reuters.com/article/us-limerock-occidental-bakken/exclusive-oxy-to-exit-north-dakotas-oil-fields-in-sale-to-private-equity-fund-idUSKCN0S92QR20151015 |archive-date=August 4, 2019 |access-date=October 23, 2017 |work=[[Reuters]]}}</ref> The company also sold its proven and probable reserves of {{convert|393|e6BOE|lk=in}} in Argentina to [[Sinopec]], a subsidiary of [[China Petrochemical Corporation]], and acquired properties in South Texas and North Dakota for $3.2 billion.<ref>{{Cite news |last1=KAPLAN |first1=THOMAS |last2=NICHOLSON |first2=CHRIS V. |date=December 10, 2010 |title=Occidental Adds to Its U.S. Oil Properties |url=https://dealbook.nytimes.com/2010/12/10/sinopec-to-buy-occidental-unit-for-2-45-billion/ |url-status=live |archive-url=https://web.archive.org/web/20191007000231/https://dealbook.nytimes.com/2010/12/10/sinopec-to-buy-occidental-unit-for-2-45-billion/ |archive-date=October 7, 2019 |access-date=October 23, 2017 |work=[[The New York Times]]}}</ref><ref>{{Cite news |last1=Bai |first1=Jim |last2=Master |first2=Farah |date=December 10, 2010 |title=China's Sinopec buys Occidental's Argentina assets |url=https://www.reuters.com/article/us-occidental-sinopec-argentina/chinas-sinopec-buys-occidentals-argentina-assets-idUSTRE6B91YY20101210 |url-status=live |archive-url=https://web.archive.org/web/20210220081954/https://www.reuters.com/article/us-occidental-sinopec-argentina/chinas-sinopec-buys-occidentals-argentina-assets-idUSTRE6B91YY20101210 |archive-date=February 20, 2021 |access-date=December 28, 2017 |work=[[Reuters]]}}</ref>

In January 2011, Occidental partnered with Abu Dhabi's state oil company in developing the Shah Field, one of the largest natural gas fields in the Middle East, through a joint venture known as Al Hosn Gas.<ref>{{Cite news |date=January 19, 2011 |title=Occidental wins Abu Dhabi Shah gas project: sources |url=https://www.reuters.com/article/us-occidental-shah-idUSTRE70I2E820110119 |url-status=live |archive-url=https://web.archive.org/web/20190804164846/https://www.reuters.com/article/us-occidental-shah-idUSTRE70I2E820110119 |archive-date=August 4, 2019 |access-date=July 1, 2017 |work=[[Reuters]]}}</ref> Al Hosn Gas became operational in 2015.<ref>{{Cite news |date=January 20, 2014 |title=UAE's Shah gas project now seen online early 2015-ADNOC |url=https://www.reuters.com/article/uae-shah-gas/update-1-uaes-shah-gas-project-now-seen-online-early-2015-adnoc-idUSL5N0KU0UQ20140120 |url-status=live |archive-url=https://web.archive.org/web/20190203143749/https://www.reuters.com/article/uae-shah-gas/update-1-uaes-shah-gas-project-now-seen-online-early-2015-adnoc-idUSL5N0KU0UQ20140120 |archive-date=February 3, 2019 |access-date=December 28, 2017 |work=[[Reuters]]}}</ref>

In September 2014, Occidental moved its headquarters to Houston, Texas.<ref>{{Cite news |last=Blum |first=Jordan |date=February 14, 2014 |title=Occidental Petroleum splintering and moving its headquarters to Houston |url=https://www.bizjournals.com/houston/news/2014/02/14/occidental-petroleum-splintering-and-moving-its.html |url-status=live |archive-url=https://web.archive.org/web/20201125031833/http://www.bizjournals.com/houston/news/2014/02/14/occidental-petroleum-splintering-and-moving-its.html |archive-date=November 25, 2020 |access-date=October 23, 2017 |work=[[American City Business Journals]]}}</ref><ref>{{Cite news |last=Li |first=Shan |date=February 14, 2014 |title=Occidental Petroleum to move headquarters to Houston, spin off California assets |url=https://www.latimes.com/business/la-xpm-2014-feb-14-la-fi-mo-occidental-petroleum-california-houston-20140214-story.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20190403050022/https://www.latimes.com/business/la-xpm-2014-feb-14-la-fi-mo-occidental-petroleum-california-houston-20140214-story.html |archive-date=April 3, 2019 |access-date=March 15, 2020 |work=[[Los Angeles Times]]}}</ref> In November, the company sold its 50% interest in BridgeTex Pipeline Company, owner of a 300,000 barrel-per-day crude oil pipeline system that extends from [[Colorado City, Texas]] to [[Texas City, Texas]], for $1.075 billion.<ref>{{Cite press release |title=Plains All American Pipeline, L.P. Enters into Agreement to Acquire 50% Interest in BridgeTex Pipeline Company from Occidental Petroleum Corporation |date=November 6, 2014 |publisher=[[Business Wire]] |url=https://www.businesswire.com/news/home/20141106005447/en/Plains-American-Pipeline-L.P.-Enters-Agreement-Acquire |access-date=February 28, 2019 |archive-date=August 4, 2019 |archive-url=https://web.archive.org/web/20190804165233/https://www.businesswire.com/news/home/20141106005447/en/Plains-American-Pipeline-L.P.-Enters-Agreement-Acquire |url-status=live}}</ref><ref>{{Cite news |last=Pulsinelli |first=Olivia |date=November 6, 2014 |title=Occidental Petroleum to sell BridgeTex interest to Plains for $1B |url=https://www.bizjournals.com/houston/news/2014/11/06/occidental-petroleum-to-sell-bridgetex-interest-to.html |url-status=live |archive-url=https://web.archive.org/web/20141225175050/http://www.bizjournals.com/houston/news/2014/11/06/occidental-petroleum-to-sell-bridgetex-interest-to.html |archive-date=December 25, 2014 |access-date=October 23, 2017 |work=[[American City Business Journals]]}}</ref> In December 2014, Occidental distributed 80.5% of its shares in [[California Resources Corporation]], the largest producer of oil and natural gas on a gross-operated barrels of oil equivalent basis in California, to Occidental shareholders<ref>{{Cite news |last=Olabi |first=Nora |date=December 1, 2014 |title=Occidental Petroleum completes California spin-off |url=https://www.bizjournals.com/houston/news/2014/12/01/occidental-petroleum-completes-california-spin-off.html |url-status=live |archive-url=https://web.archive.org/web/20150820155655/http://www.bizjournals.com/houston/news/2014/12/01/occidental-petroleum-completes-california-spin-off.html |archive-date=August 20, 2015 |access-date=October 23, 2017 |work=[[American City Business Journals]]}}</ref> and distributed its remaining stake to shareholders in March 2016.<ref>{{Cite press release |title=Occidental Petroleum Announces Regular Quarterly Dividend |date=February 18, 2016 |publisher=[[Business Wire]] |url=https://www.businesswire.com/news/home/20160218006081/en/Occidental-Petroleum-Announces-Regular-Quarterly-Dividend |access-date=February 28, 2019 |archive-date=April 24, 2019 |archive-url=https://web.archive.org/web/20190424001943/https://www.businesswire.com/news/home/20160218006081/en/Occidental-Petroleum-Announces-Regular-Quarterly-Dividend |url-status=live}}</ref> In June 2017, the company sold land in the [[Permian Basin (North America)|Permian Basin]] for $600 million and used the proceeds to acquire other assets in the area.<ref>{{Cite news |last=Mann |first=Joshua |date=June 19, 2017 |title=Oxy makes two $600M deals to sell, buy Permian assets |url=https://www.bizjournals.com/houston/news/2017/06/19/oxy-makes-two-600m-deals-to-sell-buy-permian.html |url-status=live |archive-url=https://web.archive.org/web/20170626170000/http://www.bizjournals.com/houston/news/2017/06/19/oxy-makes-two-600m-deals-to-sell-buy-permian.html |archive-date=June 26, 2017 |access-date=October 23, 2017 |work=[[American City Business Journals]]}}</ref>

In October 2015, Occidental completed the first phase of a $500 million carbon dioxide flooding project in [[Hobbs, New Mexico]].<ref>{{Cite news |last=Christ |first=Sal |date=October 21, 2015 |title=$500 million oil recovery project wraps up first phase in Hobbs |url=https://www.bizjournals.com/albuquerque/news/2015/10/21/oxy-petroleum-500m-oil-recovery-project-hobbs.html |url-status=live |archive-url=https://web.archive.org/web/20170510151336/http://www.bizjournals.com/albuquerque/news/2015/10/21/oxy-petroleum-500m-oil-recovery-project-hobbs.html |archive-date=May 10, 2017 |access-date=October 23, 2017 |work=[[American City Business Journals]]}}</ref> In March 2017, the company and its 50/50 joint venture partner [[Mexichem]] began operations of a 1.2-billion-pound per year capacity [[ethylene]] cracker at the OxyChem plant in [[Ingleside, Texas]], along with pipelines and storage at [[Markham, Texas]].<ref>{{Cite news |last=Brelsford |first=Robert |date=March 1, 2017 |title=OxyChem, Mexichem commission Texas ethylene complex |url=https://www.ogj.com/articles/2017/02/oxychem-mexichem-commission-texas-ethylene-complex.html |url-status=live |archive-url=https://web.archive.org/web/20200807102600/https://www.ogj.com/articles/2017/02/oxychem-mexichem-commission-texas-ethylene-complex.html |archive-date=August 7, 2020 |access-date=March 4, 2018 |work=[[Oil & Gas Journal]]}}</ref>

In May 2016, [[Vicki Hollub]], who had worked at Occidental since 1981 and joined the board in 2015, became the chief executive officer of the company, the first female to serve as chief executive officer of a major U.S. oil and gas company.<ref>{{Cite news |date=April 29, 2016 |title=Occidental Names Hollub First Woman CEO of Big U.S. Oil Firm |url=https://www.bloomberg.com/news/articles/2016-04-29/occidental-s-hollub-named-first-female-ceo-of-big-u-s-oil-firm |url-status=live |archive-url=https://web.archive.org/web/20190423222756/https://www.bloomberg.com/news/articles/2016-04-29/occidental-s-hollub-named-first-female-ceo-of-big-u-s-oil-firm |archive-date=April 23, 2019 |access-date=January 2, 2017 |work=[[Bloomberg L.P.]]}}</ref>

In January 2018, Occidental was found to be partially responsible for the [[Bayou Corne sinkhole]], along with Texas Brine Company and [[Vulcan Materials Company]].<ref>[https://www.theadvocate.com/baton_rouge/news/article_7856ff5e-f4ae-11e7-b86c-4f261682612b.html Judge: Fault for Bayou Corne sinkhole lies with Texas Brine, OxyChem, Vulcan; companies had decades of warnings] {{Webarchive|url=https://web.archive.org/web/20210913195737/https://www.theadvocate.com/baton_rouge/news/article_7856ff5e-f4ae-11e7-b86c-4f261682612b.html|date=September 13, 2021}} [[The Advocate (Louisiana)|The Advocate]]</ref>

In October 2020, Occidental sold its onshore operations in Colombia to the Carlyle Group for $825 million. The deal included operations and working interests in the Llanos Norte, Middle Magdalena, and Putumayo Basins.<ref>https://www.carlyle.com/media-room/news-release-archive/carlyle-group-acquire-occidental%E2%80%99s-onshore-operations-colombia</ref> Working interest on exploration offshore in Colombia remained under ownership of Oxy in partnership with [[Ecopetrol]], with plans to drill the first well by 2024.<ref name="oilprice.com">https://oilprice.com/Energy/Crude-Oil/Occidental-Petroleum-and-Ecopetrol-to-Drill-Worlds-Deepest-Offshore-Oil-Well.html#:~:text=Occidental%20Petroleum%20and%20Ecopetrol%20plan,distances%2C%20revolutionizing%20offshore%20oil%20drilling.</ref>

=== Acquisitions ===
In 1981, Occidental acquired [[IBP, Inc.]], one of largest producers of beef and pork products in the United States.<ref name="ibp">{{Cite news |last=PARRISH |first=MICHAEL |date=September 5, 1991 |title=Occidental Will Sell Its Stake in Iowa Beef Unit |url=https://www.latimes.com/archives/la-xpm-1991-09-05-fi-2641-story.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20210126013018/https://www.latimes.com/archives/la-xpm-1991-09-05-fi-2641-story.html |archive-date=January 26, 2021 |access-date=March 15, 2020 |work=[[Los Angeles Times]]}}</ref><ref>{{Cite news |date=June 2, 1981 |title=OCCIDENTAL TO ACQUIRE IOWA BEEF |url=https://www.nytimes.com/1981/06/02/business/occidental-to-acquire-iowa-beef.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20190423185031/https://www.nytimes.com/1981/06/02/business/occidental-to-acquire-iowa-beef.html |archive-date=April 23, 2019 |access-date=March 22, 2018 |work=[[The New York Times]]}}</ref> In 1988, the company acquired [[Cain Chemical]] for $2 billion.<ref>{{Cite news |last=WOUTAT |first=DONALD |date=April 15, 1988 |title=Oxy Buys Cain Chemical; Deal Valued at $2 Billion |url=https://www.latimes.com/archives/la-xpm-1988-04-15-fi-1568-story.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20210225215916/https://www.latimes.com/archives/la-xpm-1988-04-15-fi-1568-story.html |archive-date=February 25, 2021 |access-date=March 15, 2020 |work=[[Los Angeles Times]]}}</ref><ref>{{Cite news |last=HAYES |first=THOMAS C. |date=April 18, 1988 |title=Workers Cheer Cain's Sale, And the $100,000 Windfalls |url=https://www.nytimes.com/1988/04/18/business/workers-cheer-cain-s-sale-and-the-100000-windfalls.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20190423185015/https://www.nytimes.com/1988/04/18/business/workers-cheer-cain-s-sale-and-the-100000-windfalls.html |archive-date=April 23, 2019 |access-date=December 28, 2017 |work=[[The New York Times]]}}</ref>

In 2005, the company acquired Vintage Petroleum for $3.8 billion.<ref>{{Cite press release |title=Occidental Agrees to Acquire Vintage Petroleum |date=October 13, 2005 |publisher=[[Business Wire]] |url=https://www.businesswire.com/news/home/20091023005902/en/Occidental-Agrees-Acquire-Vintage-Petroleum |access-date=February 28, 2019 |archive-date=April 24, 2019 |archive-url=https://web.archive.org/web/20190424002303/https://www.businesswire.com/news/home/20091023005902/en/Occidental-Agrees-Acquire-Vintage-Petroleum |url-status=live}}</ref><ref>{{Cite news |last=Douglass |first=Elizabeth |date=October 14, 2005 |title=Oxy Agrees to Acquire Vintage Petroleum |url=https://www.latimes.com/archives/la-xpm-2005-oct-14-fi-oxy14-story.html |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20210225220614/https://www.latimes.com/archives/la-xpm-2005-oct-14-fi-oxy14-story.html |archive-date=February 25, 2021 |access-date=March 15, 2020 |work=[[Los Angeles Times]]}}</ref> In 2008, it acquired a 10% stake in [[Plains All American Pipeline]].<ref>{{Cite news |date=July 2, 2008 |title=Occidental Petroleum to invest in Plains All American |url=https://www.bizjournals.com/houston/stories/2008/06/30/daily26.html |url-status=live |archive-url=https://web.archive.org/web/20190203143721/https://www.bizjournals.com/houston/stories/2008/06/30/daily26.html |archive-date=February 3, 2019 |access-date=October 23, 2017 |work=[[American City Business Journals]]}}</ref> The company also acquired assets from [[Plains Exploration & Production]] for $1.3 billion.<ref>{{Cite news |last=Peer |first=Melinda |date=September 25, 2008 |title=Plains Passes Assets To Occidental |url=https://www.forbes.com/2008/09/25/plains-exploration-closer-markets-equity-cx_mp_0925markets40.html |url-status=live |archive-url=https://web.archive.org/web/20190804171603/https://www.forbes.com/2008/09/25/plains-exploration-closer-markets-equity-cx_mp_0925markets40.html |archive-date=August 4, 2019 |access-date=October 28, 2017 |work=[[Forbes]]}}</ref> In October 2009, Occidental acquired [[Citigroup]]'s controversial [[Phibro]] energy-trading business, for its net asset value of approximately $250 million.<ref>{{Cite press release |title=Occidental Petroleum Announces Acquisition of Phibro |date=October 9, 2009 |publisher=[[Business Wire]] |url=https://www.businesswire.com/news/home/20091026006112/en/Occidental-Petroleum-Announces-Acquisition-Phibro |access-date=February 28, 2019 |archive-date=April 24, 2019 |archive-url=https://web.archive.org/web/20190424002245/https://www.businesswire.com/news/home/20091026006112/en/Occidental-Petroleum-Announces-Acquisition-Phibro |url-status=live}}</ref><ref>{{Cite news |date=October 9, 2009 |title=Occidental buys Phibro from Citigroup |url=https://www.bizjournals.com/losangeles/stories/2009/10/05/daily33.html |url-status=live |archive-url=https://web.archive.org/web/20210301203114/https://www.bizjournals.com/losangeles/stories/2009/10/05/daily33.html |archive-date=March 1, 2021 |access-date=October 23, 2017 |work=[[American City Business Journals]]}}</ref> The unit was managed by [[Andrew Hall (hedge fund manager)|Andrew J. Hall]], who received compensation of approximately $100 million per year in 2007 and 2008. After the acquisition, the division reported its first losses since the 1990s.<ref>{{Cite news |last1=Krishnan |first1=Barani |last2=Leff |first2=Jonathan |last3=Reddall |first3=Braden |date=February 9, 2012 |title=Exclusive: Oil legend Andy Hall suffers first loss since 1990s |url=https://www.reuters.com/article/us-hall-loss/exclusive-oil-legend-andy-hall-suffers-first-loss-since-1990s-idUSTRE8182D020120209 |url-status=live |archive-url=https://web.archive.org/web/20190804143228/https://www.reuters.com/article/us-hall-loss/exclusive-oil-legend-andy-hall-suffers-first-loss-since-1990s-idUSTRE8182D020120209 |archive-date=August 4, 2019 |access-date=October 23, 2017 |work=[[Reuters]]}}</ref> In 2016, Phibro was wound down and sold.<ref>{{Cite news |last=Parashar |first=Manish |date=January 26, 2016 |title=Former Wall Street banker buys Phibro from Occidental Petroleum: FT |url=https://www.reuters.com/article/us-occidental-phibro-energyarbitragepart/former-wall-street-banker-buys-phibro-from-occidental-petroleum-ft-idUSKCN0V42A2 |url-status=live |archive-url=https://web.archive.org/web/20190423221248/https://www.reuters.com/article/us-occidental-phibro-energyarbitragepart/former-wall-street-banker-buys-phibro-from-occidental-petroleum-ft-idUSKCN0V42A2 |archive-date=April 23, 2019 |access-date=October 23, 2017 |work=[[Reuters]]}}</ref>

In August 2019, Occidental acquired [[Anadarko Petroleum]] for $57 billion, making the deal the world's fourth biggest oil and gas acquisition to date.<ref>{{Cite news |last=Vara |first=Vasanthi |date=June 19, 2019 |title=The biggest ever mergers and acquisitions in the oil and gas industry |url=https://www.offshore-technology.com/features/mergers-and-acquisitions-oil-gas-industry/ |url-status=live |archive-url=https://web.archive.org/web/20201019212635/https://www.offshore-technology.com/features/mergers-and-acquisitions-oil-gas-industry/ |archive-date=October 19, 2020 |access-date=August 9, 2019 |work=Offshore Technology}}</ref>

In August 2023, Occidental acquired all the outstanding equity of the [[direct air capture]] technology company, [[Carbon Engineering]] for $1.1 billion.<ref>{{Cite web |title=Occidental to Acquire DAC Firm Carbon Engineering for $1.1B |url=https://www.rigzone.com/news/occidental_to_acquire_dac_firm_carbon_engineering_for_11b-16-aug-2023-173677-article/ |access-date=2023-08-16 |website=www.rigzone.com |language=en}}</ref>  In December, the company acquired a Permian producer, CrownRock, for $12 billion. The acquisition was completed in August 2024.<ref>https://www.oxy.com/news/news-releases/occidental-completes-acquisition-of-crownrock/</ref>