Editing Occidental Petroleum

{{Short description|American oil company}}
{{Use American English|date = October 2019}}
{{Use mdy dates|date = October 2019}}
{{Infobox company 
| name          = Occidental Petroleum Corporation 
| logo          = OXY LOGO.svg
| type          = [[Public company]]
| traded_as     = {{ubl|{{NYSE|OXY}}|[[S&P 500]] component}}
| foundation    = {{Start date and age|1920}}
| location      = [[Houston, Texas]], U.S.
| key_people    = {{Plain list|
* [[Vicki Hollub]], CEO & [[President (corporate title)|President]]
* Cedric W. Burgher, CFO
* Eugene L. Batchelder, Chairman
}}
| industry      = [[Energy industry]]
| products      = [[Chemical substance]]s 
| owner         = 
| production    = {{convert|3512|e3BOE|lk=in}} per day (2021) 
| revenue       = {{increase}} [[US$]]26.314 billion (''Fiscal Year Ended December 31, 2021'')<ref name=AnnualR2021>{{cite web |title= Occidental Petroleum Corporation 2021 Annual Form 10-K Report |url= https://occidentalpetroleum.gcs-web.com/static-files/d8c06678-74ee-4f6b-a7ed-8d4439ee6f49 |publisher=occidentalpetroleum.gcs-web.com |accessdate= 5 March 2022 |date= 31 December 2021 |archive-date= March 5, 2022 |archive-url= https://web.archive.org/web/20220305121929/https://occidentalpetroleum.gcs-web.com/static-files/d8c06678-74ee-4f6b-a7ed-8d4439ee6f49 |url-status= live }}</ref>
| operating_income = {{increase}} [[US$]]2.790 billion (''Fiscal Year Ended December 31, 2021'')<ref name=AnnualR2021 />
| net_income    = {{increase}} [[US$]]2.332 billion (''Fiscal Year Ended December 31, 2021'')<ref name=AnnualR2021 />
| assets        = {{decrease}} [[US$]]75.036 billion (''Fiscal Year Ended December 31, 2021'')<ref name=AnnualR2021 />
| equity        = {{increase}} [[US$]]20.327 billion (''Fiscal Year Ended December 31, 2021'')<ref name=AnnualR2021 />
| website       = {{URL|oxy.com}}
| num_employees = {{loss}} 11,678 (''Fiscal Year Ended December 31, 2021'')<ref name=AnnualR2021 />
| footnotes     = <ref name=10K>{{Cite web |title=Occidental Chemical Corporation 2020 Form 10-K Annual Report |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/797468/000079746821000009/oxy-20201231.htm |publisher=[[U.S. Securities and Exchange Commission]] |access-date=July 13, 2022 |archive-date=April 11, 2021 |archive-url=https://web.archive.org/web/20210411123404/https://www.sec.gov/ix?doc=%2FArchives%2Fedgar%2Fdata%2F797468%2F000079746821000009%2Foxy-20201231.htm |url-status=live }}</ref>
}}
[[File:Occidental Chemical Corporation Aerial - Wichita (50902494042).jpg|thumb|300px|right|Occidental Chemical plant in Kansas]]
'''Occidental Petroleum Corporation''' (often abbreviated '''Oxy''' in reference to its [[ticker symbol]] and logo) 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<ref>{{Cite web |title=Fortune: Occidental Petroleum |url=https://fortune.com/fortune500/occidental-petroleum/ |website=[[Fortune (magazine)|Fortune]] |access-date=March 15, 2020 |archive-date=May 30, 2019 |archive-url=https://web.archive.org/web/20190530052347/http://fortune.com/fortune500/occidental-petroleum |url-status=live }}</ref> and 670th on the 2021 [[Forbes Global 2000]].<ref>{{Cite web |title=Forbes: Occidental Petroleum |url=https://www.forbes.com/companies/occidental-petroleum/ |work=[[Forbes]] |access-date=March 2, 2017 |archive-date=March 3, 2017 |archive-url=https://web.archive.org/web/20170303055218/https://www.forbes.com/companies/occidental-petroleum/ |url-status=live }}</ref>

==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>

==Operations==
===Oil and gas===
The company's oil and gas operations are concentrated in two geographic areas: the United States and the Middle East, with some ventures in South America. As of December 31, 2020, Occidental had {{convert|2.911|e9BOE|lk=in}} of oil equivalent net proved reserves, of which 51% was petroleum, 19% was natural gas liquids, and 30% was natural gas. In 2020, the company had production of {{convert|1350|e3BOE|lk=in}} per day.<ref name=10K/>

====United States====
In 2020, the company's United States operations produced {{convert|1037|e3BOE|lk=in}} per day, representing 77% of the company's worldwide production, including {{convert|575|e3BOE|lk=in}} per day in [[Permian Basin (North America)|Permian Basin]], where Occidental is the largest operator and oil producer. The company produced {{convert|435|e3BOE|lk=in}} per day from [[unconventional oil]] [[directional drilling]] via Permian Resources and {{convert|140|e3BOE|lk=in}} per day using a technique called [[enhanced oil recovery]], whereby [[carbon dioxide]] and water are injected into underground formations to extract the oil and gas. The company also produced {{convert|293|e3BOE|lk=in}} per day in the [[Denver Basin]].<ref name=10K/>

====Middle East====
The company's oil and gas operations in the Middle East are in [[Oman]], [[Qatar]], and the [[United Arab Emirates]] and are via [[production sharing agreement]]s. The region produced {{convert|251|e3BOE|lk=in}} per day, representing approximately 19% of 2020 total production. The region also held 28% of the company's proved reserves in 2020.<ref name=10K/>

The company is the largest independent oil producer in Oman.<ref>{{Cite news |date=April 21, 2014 |title=Occidental to continue funding growth opportunities in Oman |work=[[Muscat Daily]] |url=https://muscatdaily.com//Archive/Business/Occidental-to-continue-funding-growth-opportunities-in-Oman-33i2 |access-date=February 28, 2019 |archive-date=February 28, 2019 |archive-url=https://web.archive.org/web/20190228192837/https://muscatdaily.com/Archive/Business/Occidental-to-continue-funding-growth-opportunities-in-Oman-33i2 |url-status=live }}</ref> In Qatar, the company is the second-largest oil producer offshore and is a partial owner in the [[Dolphin Gas Project]], which delivers gas to Oman and the United Arab Emirates.<ref>{{Cite news |last=John |first=Pratap |date=January 24, 2016 |title=Oxy to 'stay very diligent' in Qatar and Mideast |work=[[Gulf Times]] |url=https://www.gulf-times.com/story/477260/Oxy-to-stay-very-diligent-in-Qatar-and-Mideast |access-date=February 28, 2019 |archive-date=February 28, 2019 |archive-url=https://web.archive.org/web/20190228191816/https://www.gulf-times.com/story/477260/Oxy-to-stay-very-diligent-in-Qatar-and-Mideast |url-status=live }}</ref>

====South America====
In Colombia, Anadarko Colombia, a subsidiary of Oxy, and [[Ecopetrol]] entered into a joint exploration agreement in May 2022 for offshore exploration in deep waters of the Caribbean,<ref>https://www.ecopetrol.com.co/wps/portal/Home/en/news/detail/Noticias-2021/ecopetrol-oxy-joint-exploration</ref> with plans to drill the world's deepest offshore oil well by 2024.<ref name="oilprice.com"/>

In Peru, Anadarko Peru, a subsidiary of Oxy, completed the initial phase of a 3D marine seismic acquisition project in northern Peruvian waters in 2024.<ref>https://www.ogj.com/exploration-development/article/55133978/occidental-subsidiary-completes-seismic-acquisition-offshore-peru</ref>

===Chemical===
OxyChem, a [[wholly-owned subsidiary]], manufactures [[polyvinyl chloride]] (PVC) resins, [[chlorine]], and [[sodium hydroxide]] (caustic soda) used in plastics, pharmaceuticals, and water treatment chemicals. Other products manufactured by the company include caustic [[potash]], [[Organochloride|chlorinated organics]], sodium silicates, chlorinated [[cyanuric acid]] (isocyanurate), and [[calcium chloride]]. OxyChem has manufacturing facilities in the United States, Canada, and Chile. In a joint venture with [[Church & Dwight]], OxyChem owns Armand Products Company, which sells [[potassium carbonate]] and [[potassium bicarbonate]].<ref name=10K/>

=== Decarbonization projects ===
In June 2024, Occidental Petroleum 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]] (DAC) projects. DAC is an energy-intensive process that involves removing {{CO2}} from the atmosphere, and the partnership aims to address the energy needs of DAC with low-carbon power solutions. TAE Technologies, known for its advanced nuclear fusion research, plans to have a demonstration project by 2025 and a commercial facility in the 2030s.<ref>{{Cite web |date=2024-06-11 |title=Oxy Eyes Nuclear Fusion as Possible DAC Power Source |url=https://www.energyintel.com/00000190-0895-d824-a7d5-5bbf378e0000 |access-date=2024-06-14 |website=Energy Intelligence |language=en}}</ref>

==Controversies==
===Lobbying to do business in Libya===
The company began operations in [[Libya]] in 1965 and operated there until [[economic sanctions]] were imposed in 1986 by the United States.<ref name=libya/> The company was one of the first American companies to resume negotiations in Libya after the sanctions were lifted in 2004.<ref>{{Cite news |last=Gelsi |first=Steve |date=November 26, 2007 |title=Occidental Petroleum wins major oil deal with Libya |work=[[MarketWatch]] |url=https://www.marketwatch.com/story/occidental-petroleum-wins-major-oil-deal-with-libya |access-date=February 28, 2019 |archive-date=February 28, 2019 |archive-url=https://web.archive.org/web/20190228191834/https://www.marketwatch.com/story/occidental-petroleum-wins-major-oil-deal-with-libya |url-status=live }}</ref> In 2008, the company, along with 5 other oil companies, was criticized for hiring [[Hogan Lovells]] to lobby to exempt Libya from a law written by U.S. Senator [[Frank Lautenberg]] (D-NJ) to assist American terror victims in seizing assets of countries found culpable in terror attacks, such as the Libyan bombing of [[Pan Am Flight 103]] over [[Lockerbie]] in 1988.<ref>{{Cite magazine |last=Calabresi |first=Massimo |date=June 14, 2011 |title=Gaddafi's Corporate Quislings |magazine=[[Time (magazine)|Time]] |url=https://swampland.time.com/2011/06/14/gaddafis-corporate-quislings/ |access-date=March 15, 2020 |archive-date=February 25, 2021 |archive-url=https://web.archive.org/web/20210225142600/https://swampland.time.com/2011/06/14/gaddafis-corporate-quislings/ |url-status=live }}</ref> and to remove a provision in the [[Dodd–Frank Wall Street Reform and Consumer Protection Act]] that requires disclosure of payments to foreign governments.<ref>{{Cite news |last=Wang |first=Marian |date=March 24, 2011 |title=Oil Companies That Gave 'Bonuses' to Libya Also Lobbied Against Disclosure Rules |work=[[ProPublica]] |url=https://www.propublica.org/article/oil-companies-that-gave-bonuses-to-libya-als-lobbied-against-disclosure-ru |access-date=October 23, 2017 |archive-date=October 23, 2017 |archive-url=https://web.archive.org/web/20171023141924/https://www.propublica.org/article/oil-companies-that-gave-bonuses-to-libya-als-lobbied-against-disclosure-ru |url-status=live }}</ref> In early 2011, the company ceased exploration activities and production operations in Libya due to the growing civil unrest in the country and U.S. sanctions. In June 2011, the [[U.S. Securities and Exchange Commission]] and United Kingdom prosecutors requested information from the company, [[ExxonMobil]] and [[ConocoPhillips]] related to the [[Libyan Investment Authority]] (LIA), an investment firm controlled by Libyan leader [[Muammar Gaddafi]], to determine if there were any violations of international bribery laws.<ref name="Ruffel">{{Cite web |last=Ruffel |first=Benjamin |date=July 1, 2011 |title=Internal Report Shows Even Before War, Libya's SWF Was in Chaos |url=https://www.ai-cio.com/news/internal-report-shows-even-before-war-libyas-swf-was-in-chaos/ |website=[[Chief Investment Officer Magazine]] |access-date=October 23, 2017 |archive-date=October 24, 2017 |archive-url=https://web.archive.org/web/20171024050122/https://www.ai-cio.com/news/internal-report-shows-even-before-war-libyas-swf-was-in-chaos/ |url-status=live }}</ref><ref>{{Cite news |last=Vasan |first=Paula |date=June 29, 2011 |title=UK Prosecutors Team Up With SEC to Investigate Bribery Among SWFs |work=[[Chief Investment Officer Magazine]] |url=https://www.ai-cio.com/news/uk-prosecutors-team-up-with-sec-to-investigate-bribery-among-swfs/ |access-date=October 23, 2017 |archive-date=October 24, 2017 |archive-url=https://web.archive.org/web/20171024043731/https://www.ai-cio.com/news/uk-prosecutors-team-up-with-sec-to-investigate-bribery-among-swfs/ |url-status=live }}</ref> The Libyan Investment Authority's investments were frozen by the U.S. government in early 2011 following the Gaddafi regime's attacks on Libyan civilians.<ref name="Ruffel" /> In 2016, the company ceased operations in Libya.

===Environmental record===
In 2017, the company was ranked 55th on the Carbon Majors Report, a list of the Top 100 producers and their cumulative greenhouse gas emissions from 1988-2015.<ref>{{Cite news |last=Riley |first=Tess |date=July 10, 2017 |title=Just 100 companies responsible for 71% of global emissions, study says |work=[[The Guardian]] |url=https://www.theguardian.com/sustainable-business/2017/jul/10/100-fossil-fuel-companies-investors-responsible-71-global-emissions-cdp-study-climate-change |access-date=October 23, 2017 |archive-date=January 18, 2021 |archive-url=https://web.archive.org/web/20210118063050/https://www.theguardian.com/sustainable-business/2017/jul/10/100-fossil-fuel-companies-investors-responsible-71-global-emissions-cdp-study-climate-change |url-status=live }}</ref>

The company has stated that its use of [[enhanced oil recovery]] for a portion of its production is one way it helps mitigate its high emissions.<ref name=10K/><ref>{{Cite news |last=Gharib |first=Susie |date=June 12, 2017 |title=Occidental Petroleum Wants to Be 'Part of the Solution' on Climate Change |work=[[Fortune (magazine)|Fortune]] |url=https://fortune.com/2017/06/12/occidental-petroleum-climate-change/ |access-date=March 15, 2020 |archive-date=September 30, 2020 |archive-url=https://web.archive.org/web/20200930191115/https://fortune.com/2017/06/12/occidental-petroleum-climate-change/ |url-status=live }}</ref>

====Cleanup of the Copper Basin====
In 1982, the company acquired land in the Copper Basin in [[Tennessee]], formerly the site of the [[Burra Burra Mine (Tennessee)|Burra Burra Mine]], where copper and sulfur had been mined in the 1800s. In 2016, Occidental agreed to spend $50 million to clean up the Copper Basin and restore the water quality of its creeks.<ref>{{Cite news |last=Cobb |first=David |date=May 10, 2016 |title=Once barren Copper Basin reaches major milestone in restoration effort [photos] |work=[[Times Free Press]] |url=https://www.timesfreepress.com/news/local/story/2016/may/10/remarkable-reclamation-copbasrestoratieffort/364657/ |access-date=February 28, 2019 |archive-date=February 28, 2019 |archive-url=https://web.archive.org/web/20190228191820/https://www.timesfreepress.com/news/local/story/2016/may/10/remarkable-reclamation-copbasrestoratieffort/364657/ |url-status=live }}</ref><ref>{{Cite press release |title=Department of Justice and EPA Announce $50 Million Settlement to Clean Up Contamination at Eastern Tennessee Superfund Site |date=April 22, 2016 |publisher=[[United States Department of Justice]] |url=https://www.justice.gov/opa/pr/department-justice-and-epa-announce-50-million-settlement-clean-contamination-eastern |access-date=March 4, 2018 |archive-date=March 5, 2018 |archive-url=https://web.archive.org/web/20180305063113/https://www.justice.gov/opa/pr/department-justice-and-epa-announce-50-million-settlement-clean-contamination-eastern |url-status=live }}</ref>

====Love Canal====
{{Further|Love Canal}}
[[File:Abandoned parking lot in Love Canal.jpg|thumb|An abandoned parking lot near [[Love Canal]]]]

Since the 1920s, several companies and the [[United States Armed Forces]] used the [[Love Canal]] as a chemical disposal site. In 1942, Occidental predecessor [[Hooker Chemical Company]] began disposing of chemical waste at the site and, in 1947, it became the sole owner and user of the land. In 1952, the site was filled to capacity and closed off. The company leased the land to the local school board in 1953. Later in the 1950s, the school board requested that the company sell the land, and threatened to use [[eminent domain]]. The school board intended to build a school on an unused area of the dump.<ref>{{Cite web |title=Superfund Site: LOVE CANAL, NIAGARA FALLS, NY |url=https://cumulis.epa.gov/supercpad/cursites/csitinfo.cfm?id=0201290 |publisher=[[United States Environmental Protection Agency]] |access-date=March 2, 2017 |archive-date=February 1, 2016 |archive-url=https://web.archive.org/web/20160201085600/http://cumulis.epa.gov/supercpad/cursites/csitinfo.cfm?id=0201290 |url-status=live }}</ref>

A school was built on the site, and later a middle-class residential district was built on land adjacent to the site. The construction broke through the {{convert|4|ft|m|adj=on}} clay seal containing the waste. In 1968, Hooker Chemical was purchased by Occidental. In 1978, residents became concerned about unusual health issues in the region, including high rates of cancer and [[birth defect]]s. This subsequently became a national news story, and in 1980, president [[Jimmy Carter]] declared a federal emergency in the area. Residents were eventually relocated, and the company paid $129 million in restitution.<ref>{{Cite press release |title=Occidental to pay $129 Million in Love Canal Settlement |date=December 21, 1995 |publisher=[[United States Department of Justice]] |url=https://www.justice.gov/archive/opa/pr/Pre_96/December95/638.txt.html |access-date=March 2, 2017 |archive-date=February 17, 2017 |archive-url=https://web.archive.org/web/20170217142819/https://www.justice.gov/archive/opa/pr/Pre_96/December95/638.txt.html |url-status=live }}</ref><ref name=love/>

====Oleum spill====
On Saturday, October 11, 2008, [[oleum]] was accidentally spilled at a facility in [[Petrolia, Pennsylvania]] which belonged to Indspec, an affiliate of Occidental Chemical Corporation. Oleum is a chemical mixture of [[sulfuric acid]] and [[sulfur trioxide]]. The accident contaminated the ventilation system and caused a cloud of toxic gas. Over 2,000 residents had to be evacuated for the day.<ref>{{Cite news |last=HOPEY |first=DON |date=October 13, 2008 |title=Chemical cloud brings tense hours |work=[[Pittsburgh Post-Gazette]] |url=https://www.post-gazette.com/local/neighborhoods/2008/10/13/Chemical-cloud-brings-tense-hours/stories/200810130131 |access-date=February 28, 2019 |archive-date=February 28, 2019 |archive-url=https://web.archive.org/web/20190228130413/https://www.post-gazette.com/local/neighborhoods/2008/10/13/Chemical-cloud-brings-tense-hours/stories/200810130131 |url-status=live }}</ref> The spill was caused by an auxiliary pump [[power supply]] which lacked safety interlocks to prevent tank overfilling.<ref>{{Cite press release |title=CSB Issues Final Report on Oleum Release from INDSPEC Chemical Corp. that Forced Thousands to Evacuate in October 2008; Report Cites Use of Pump Power Supply that Lacked Safeguards |date=October 5, 2009 |publisher=[[U.S. Chemical Safety and Hazard Investigation Board]] |url=https://www.csb.gov/csb-issues-final-report-on-oleum-release-from-indspec-chemical-corp-that-forced-thousands-to-evacuate-in-october-2008-report-cites-use-of-pump-power-supply-that-lacked-safeguards/ |access-date=February 28, 2019 |archive-date=September 20, 2018 |archive-url=https://web.archive.org/web/20180920084349/https://www.csb.gov/csb-issues-final-report-on-oleum-release-from-indspec-chemical-corp-that-forced-thousands-to-evacuate-in-october-2008-report-cites-use-of-pump-power-supply-that-lacked-safeguards/ |url-status=live }}</ref><ref name=love/>

=== Bangladesh ===
On 14 June 1997, an explosion at the Magurchhaqra gas field in Kamalganj Upazila, [[Moulvibazar District]] of Bangladesh destroyed large areas of [[Lawachara National Park]] and nearby areas.<ref name=":2">{{Cite web |last=Deshwara |first=Mintu |date=2024-06-14 |title=26th anniv of Magurchhara gas field disaster today |url=https://www.thedailystar.net/news/bangladesh/news/26th-anniv-magurchhara-gas-field-disaster-today-3634566 |access-date=2024-06-14 |website=The Daily Star |language=en}}</ref> Occidental was drilling at the gas field which was later abandoned.<ref name=":2" /><ref>{{Cite web |last=Siddiquee |first=Iqbal |date=1998-01-20 |title=Occidental's gasfield at Magurchhara abandoned |url=https://www.thedailystar.net/news/occidentals-gasfield-at-magurchhara-abandoned |access-date=2024-06-14 |website=The Daily Star |language=en}}</ref> The explosion damaged 28 tea gardens in the area. It was estimated to have caused 90 to 140 billion [[Bangladeshi taka|BDT]] in damages.<ref name=":2" /> The government of Bangladesh claimed compensation from Occidental but it left the country handing over the well to [[Unocal Corporation|Unocal]] which later sold the interests to [[Chevron Corporation|Chevron]].<ref name=":2" /><ref>{{Cite web |date=2019-06-14 |title=No compensation even after 22 years of Magurchhara tragedy |url=https://en.prothomalo.com/bangladesh/No-compensation-even-after-22-years-of-Magurchhara |access-date=2024-06-14 |website=[[Prothom Alo]] |language=en}}</ref>

====Colombia====
From 1992 to 2001, the company tried to drill for oil in the territory of the [[U'wa people]], in northeast [[Colombia]]. The locals resisted, concerned about [[environmental degradation]] and fears that development would bring strangers and be a target for [[guerrilla warfare]]. There also were tribal beliefs that oil is the "blood of the earth" and should not be removed.<ref>{{Cite news |last=Benson |first=Robert W. |date=June 20, 1997 |title=Oil Giant vs. Mother Earth: Bets Are On |work=[[Los Angeles Times]] |url=https://www.latimes.com/archives/la-xpm-1997-06-20-me-5327-story.html |url-access=subscription |access-date=March 15, 2020 |archive-date=July 13, 2022 |archive-url=https://web.archive.org/web/20220713211741/https://www.latimes.com/archives/la-xpm-1997-06-20-me-5327-story.html |url-status=live }}</ref><ref>{{Cite news |last=BROOKS |first=NANCY RIVERA |date=April 29, 2000 |title=Activists Urge Occidental Petroleum Shareholders to Sell Their Stock |work=[[Los Angeles Times]] |url=https://www.latimes.com/archives/la-xpm-2000-apr-29-fi-24609-story.html |url-access=subscription |access-date=March 15, 2020 |archive-date=July 13, 2022 |archive-url=https://web.archive.org/web/20220713211738/https://www.latimes.com/archives/la-xpm-2000-apr-29-fi-24609-story.html |url-status=live }}</ref> In 2002, after years of [[shareholder resolution]]s, legal battles, protests, and a failed test well, the company abandoned the project.<ref>{{Cite news |date=May 3, 2002 |title=Occidental Petroleum Abandons Oil Development on U'wa Land |work=[[Environment News Service]] |url=http://www.ens-newswire.com/ens/may2002/2002-05-03-01.html |access-date=March 2, 2017 |archive-date=March 3, 2017 |archive-url=https://web.archive.org/web/20170303130821/http://www.ens-newswire.com/ens/may2002/2002-05-03-01.html |url-status=live }}</ref><ref>{{Cite press release |title=Occidental Petroleum to Leave U'wa Land! Company Announces Plans to Leave Controversial Colombia Oil Project |date=May 3, 2002 |publisher=[[Amazon Watch]] |url=http://amazonwatch.org/news/2002/0503-occidental-petroleum-to-leave-uwa-land |access-date=March 4, 2018 |archive-date=March 5, 2018 |archive-url=https://web.archive.org/web/20180305062947/http://amazonwatch.org/news/2002/0503-occidental-petroleum-to-leave-uwa-land |url-status=live }}</ref> [[Repsol]] took over the project.

====Caño Limón====
{{further|Caño Limón – Coveñas pipeline}}
On December 13, 1998, 17 civilians, including 7 children, were killed when the [[Colombian Air Force]] (CAF) dropped a cluster bomb in the hamlet of Santo Domingo, Colombia, after [[AirScan]], Occidental's security contractor, misidentified it as a hostile guerrilla target. Groups such as [[FARC]] and the [[National Liberation Army (Colombia)|National Liberation Army]] were active in the area. Three employees of AirScan were flying the Skymaster plane from which they provided the Colombian military with the coordinates to drop the bombs. The operation had been planned by the CAF and AirScan at Occidental's complex in Caño Limón. In April 2003, Luis Alberto Galvis Mujica, a witness and survivor of the accident, sued Occidental.<ref>{{Cite press release |title=Occidental Petroleum Faces Lawsuit for Its Role in Massacre in Colombia Plaintiff Questions CEO at the Company's Annual Meeting |date=April 25, 2003 |publisher=[[Amazon Watch]] |url=http://amazonwatch.org/news/2003/0425-occidental-petroleum-faces-lawsuit-for |access-date=March 4, 2018 |archive-date=March 4, 2018 |archive-url=https://web.archive.org/web/20180304231849/http://amazonwatch.org/news/2003/0425-occidental-petroleum-faces-lawsuit-for |url-status=live }}</ref> The courts ruled that Occidental was not liable for the incident.<ref>{{Cite news |last=REYNOLDS |first=MATT |date=November 13, 2014 |title=Occidental Averts Suit for Colombia Massacre |work=[[Courthouse News Service]] |url=https://www.courthousenews.com/occidental-averts-suit-for-colombia-massacre/ |access-date=March 4, 2018 |archive-date=March 4, 2018 |archive-url=https://web.archive.org/web/20180304232057/https://www.courthousenews.com/occidental-averts-suit-for-colombia-massacre/ |url-status=live }}</ref><ref>{{cite court | litigants=Mujica v. Occidental Petroleum Corp. | vol=564 | reporter=F.3d |opinion=1190, 1192 | court=9th Cir. 2009 | date=2009 | url=http://cdn.ca9.uscourts.gov/datastore/opinions/2009/05/11/05-56056o.pdf}}</ref>

====''Maynas Carijano v. Occidental Petroleum''====
On May 10, 2007, a group of 25 [[Achuar]] [[Peruvians]], a group of [[Indigenous peoples]], filed suit against the company, demanding [[environmental remediation]] and [[Reparation (legal)|reparations]] for [[environmental degradation]] allegedly caused by the company between 1971 and 2000, when it drilled in Block 1-AB in Peru. The plaintiffs claimed that the company violated [[technical standard]]s and [[environmental law]] when it dumped a total of {{convert|9|Goilbbl}} of toxic oil [[by-product]]s, such as [[cadmium]], lead, and [[arsenic]], in [[drainage basin]]s used by the Achuar people to fish, drink, and bathe. This environmental damage was alleged to have caused premature deaths and [[birth defect]]s. A 2006 study by the [[Ministry of Health (Peru)|Ministry of Health of Peru]], found that all but 2 of the 199 people tested had levels of cadmium in their blood above safe levels.<ref>{{Cite news |last=Collyns |first=Dan |date=March 5, 2015 |title=Indigenous Peruvians win Amazon pollution payout from US oil giant |work=[[The Guardian]] |url=https://www.theguardian.com/environment/2015/mar/05/indigenous-peruvians-amazon-pollution-settlement-us-oil-occidental |access-date=December 12, 2016 |archive-date=December 24, 2016 |archive-url=https://web.archive.org/web/20161224025752/https://www.theguardian.com/environment/2015/mar/05/indigenous-peruvians-amazon-pollution-settlement-us-oil-occidental |url-status=live }}</ref>

The Achuar were represented by [[EarthRights International]] and the law firm Schonbrun DeSimone Seplow Harris & Hoffman LLP.<ref name="payout">{{Cite news |date=March 5, 2015 |title=Peruvian Indigenous Communities Pleased with Settlement of Pollution Lawsuit Against Occidental Petroleum |work=EarthRights International |url=https://earthrights.org/media/peruvian-indigenous-communities-pleased-with-settlement-of-pollution-lawsuit-against-occidental-petroleum/ |access-date=March 4, 2018 |archive-date=March 5, 2018 |archive-url=https://web.archive.org/web/20180305063016/https://earthrights.org/media/peruvian-indigenous-communities-pleased-with-settlement-of-pollution-lawsuit-against-occidental-petroleum/ |url-status=live }}</ref>

On March 3, 2010, EarthRights International argued to the [[United States Court of Appeals for the Ninth Circuit]] that the case should be litigated in Los Angeles, where the company was headquartered.<ref>{{Cite news |date=March 8, 2010 |title=Indigenous Achuar Face Off Against Occidental Petroleum in Amazon Pollution Case |work=EarthRights International |url=https://www.earthrights.org/legal/indigenous-achuar-face-against-occidental-petroleum-amazon-pollution-case |access-date=March 2, 2017 |archive-date=September 27, 2016 |archive-url=https://web.archive.org/web/20160927210126/https://www.earthrights.org/legal/indigenous-achuar-face-against-occidental-petroleum-amazon-pollution-case |url-status=live }}</ref><ref>{{Cite web |date=December 6, 2010 |title=Maynas Carijano v. Occidental Petroleum |url=http://cdn.ca9.uscourts.gov/datastore/opinions/2010/12/06/08-56187.pdf |publisher=[[United States Court of Appeals for the Ninth Circuit]] |access-date=October 23, 2017 |archive-date=February 12, 2017 |archive-url=https://web.archive.org/web/20170212023402/http://cdn.ca9.uscourts.gov/datastore/opinions/2010/12/06/08-56187.pdf |url-status=live }}</ref> The court agreed with a trial in the United States, overturning the decision of the lower courts, and, in 2013, the [[United States Supreme Court]] refused to hear the company's appeal. In March 2015, the company made a [[Settlement (litigation)|settlement]] for an undisclosed amount, with the funds to be used for health, education, and nutrition projects in five Achuar communities in the [[Corrientes River]] basin.<ref name=payout/>

==== Anadarko Petroleum ====
In 2019, Occidental Petroleum acquired [[Anadarko Petroleum]], inheriting a significant legacy of environmental infractions including the largest environmental contamination settlement in American history,<ref name="tucker">{{Cite news |last=Tucker |first=Eric |date=April 3, 2014 |title=US reaches $5.15 billion environmental settlement |work=[[San Diego Union Tribune]] |agency=[[Associated Press]] |url=https://www.sandiegouniontribune.com/sdut-us-reaches-515-billion-environmental-settlement-2014apr03-story.html |access-date=August 11, 2019 |archive-date=August 11, 2019 |archive-url=https://web.archive.org/web/20190811163807/https://www.sandiegouniontribune.com/sdut-us-reaches-515-billion-environmental-settlement-2014apr03-story.html |url-status=live }}</ref> involvement with the [[Deepwater Horizon explosion|''Deepwater Horizon'' BP disaster]]<ref>{{Cite news |last=Slajda |first=Rachel |date=June 30, 2010 |title=Exclusive: BP Bills Anadarko $272 Million In Gulf Spill Response |work=[[Talking Points Memo]] |url=https://talkingpointsmemo.com/muckraker/exclusive-bp-bills-anadarko-272-million-in-gulf-spill-response |url-access=subscription |access-date=August 11, 2019 |archive-date=August 11, 2019 |archive-url=https://web.archive.org/web/20190811164231/https://talkingpointsmemo.com/muckraker/exclusive-bp-bills-anadarko-272-million-in-gulf-spill-response |url-status=live }}</ref> and fines under the Clean Water Act.<ref>{{Cite news |last=Hurley |first=Lawrence |date=June 29, 2015 |title=U.S. Supreme Court rejects BP, Anadarko over Deepwater Horizon spill penalties |publisher=[[Reuters]] |url=https://www.reuters.com/article/us-usa-court-bp-idUSKCN0P91PA20150629 |access-date=August 11, 2019 |archive-date=August 11, 2019 |archive-url=https://web.archive.org/web/20190811164228/https://www.reuters.com/article/us-usa-court-bp-idUSKCN0P91PA20150629 |url-status=live }}</ref>

The deal was clinched as investor and [[Berkshire Hathaway]] CEO [[Warren Buffett]] pledged $10 billion to finance the deal in exchange for 100,000 shares of cumulative perpetual preferred stock with a value of $100,000 per share. Buffett and Berkshire also received a warrant to purchase up to 80 million more shares at an exercise price of $62.50 a share.<ref>{{Cite web|url = https://www.cnbc.com/2019/04/30/buffetts-berkshire-hathaway-to-invest-10-billion-in-occidental-petroleum-for-anadarko-takeover.html|title = Buffett's Berkshire Hathaway to invest $10 billion in Occidental Petroleum for Anadarko takeover|publisher = [[CNBC]]|date = April 30, 2019|access-date = March 30, 2020|archive-date = April 13, 2020|archive-url = https://web.archive.org/web/20200413073335/https://www.cnbc.com/2019/04/30/buffetts-berkshire-hathaway-to-invest-10-billion-in-occidental-petroleum-for-anadarko-takeover.html|url-status = live}}</ref>

===Political record===
====Contributions====
Occidental has disclosed its contributions to [[political action committee]]s, lobbyists, and [[trade association]]s on its website.<ref>{{Cite web |title=Occidental Petroleum: Political Contributions and Lobbying |url=https://www.oxy.com/investors/Governance/Pages/Political-Contributions-and-Lobbying.aspx |access-date=February 28, 2019 |archive-date=February 28, 2019 |archive-url=https://web.archive.org/web/20190228191819/https://www.oxy.com/investors/Governance/Pages/Political-Contributions-and-Lobbying.aspx |url-status=live }}</ref>

In 2005, the company was among 53 entities which contributed the maximum of $250,000 to the [[Second inauguration of George W. Bush]].<ref>{{Cite news |last=Drinkard |first=Jim |date=January 17, 2005 |title=Donors get good seats, great access this week |work=[[USA Today]] |url=https://www.usatoday.com/news/washington/2005-01-16-inauguration-donors_x.htm |access-date=September 7, 2017 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235354/http://www.usatoday.com/news/washington/2005-01-16-inauguration-donors_x.htm |url-status=live }}</ref><ref>{{Cite news |date=January 16, 2005 |title=Financing the inauguration |publisher=[[USA Today]] |url=https://www.usatoday.com/news/washington/2005-01-16-inaugural-donors_x.htm |access-date=September 7, 2017 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235320/http://www.usatoday.com/news/washington/2005-01-16-inaugural-donors_x.htm |url-status=live }}</ref><ref>{{Cite news |date=January 14, 2005 |title=Some question inaugural's multi-million price tag |publisher=[[USA Today]] |agency=[[Associated Press]] |url=https://www.usatoday.com/news/washington/2005-01-14-price_x.htm |access-date=September 7, 2017 |archive-date=June 28, 2012 |archive-url=https://web.archive.org/web/20120628235330/http://www.usatoday.com/news/washington/2005-01-14-price_x.htm |url-status=live }}</ref>

The company also donated between $10,000 and $25,000 to the [[Clinton Foundation]].<ref>{{Cite news |last=Foran |first=Clare |date=February 18, 2015 |title=Big Oil and Pro-Keystone Groups Gave Millions to Clinton Foundation |work=[[The Atlantic]] |url=https://www.theatlantic.com/politics/archive/2015/02/big-oil-and-pro-keystone-groups-gave-millions-to-clinton-foundation/443808/ |access-date=March 2, 2017 |archive-date=March 3, 2017 |archive-url=https://web.archive.org/web/20170303123605/https://www.theatlantic.com/politics/archive/2015/02/big-oil-and-pro-keystone-groups-gave-millions-to-clinton-foundation/443808/ |url-status=live }}</ref>

====Gore family====
Former CEO Armand Hammer was a long time friend of former [[U.S. Senator]] [[Albert Gore, Sr.]] and Gore was a member of the board of directors of the company. In September 1972, after he lost an election for the [[United States Senate]] in 1970, Gore became the head of Island Creek Coal Company, an Occidental subsidiary.<ref>{{cite news |last=Babcock |first=Charles R. |url=https://www.washingtonpost.com/archive/politics/1992/08/15/gore-getting-20000-a-year-for-mineral-rights-on-farm/4232f019-92dc-4da5-af6d-733aeb655931/ |title=Gore Getting $20,000 a Year for Mineral Rights on Farm |newspaper=[[the Washington Post]] |date=August 15, 1992 |access-date=August 21, 2021 |archive-date=November 10, 2021 |archive-url=https://web.archive.org/web/20211110185406/https://www.washingtonpost.com/archive/politics/1992/08/15/gore-getting-20000-a-year-for-mineral-rights-on-farm/4232f019-92dc-4da5-af6d-733aeb655931/ |url-status=live }}</ref> Much of the company's coal and phosphate production was in [[Tennessee]], the state Gore represented in the Senate, and Gore owned shares in the company.<ref>{{Cite news |last=Silverstein |first=Ken |date=May 22, 2000 |title=Gore's Oil Money |work=[[The Nation]] |url=https://www.thenation.com/article/gores-oil-money/ |access-date=October 23, 2017 |archive-date=October 24, 2017 |archive-url=https://web.archive.org/web/20171024044011/https://www.thenation.com/article/gores-oil-money/ |url-status=live }}</ref> The company liquidated its coal assets in 1993 after Hammer died.<ref name=coal/>

Former Vice President of the United States [[Al Gore]] was criticized by environmentalists when he inherited shares in the company after the death of his father in 1998; however, the shares were immediately sold.<ref name=goreties/><ref>{{Cite news |last=Frantz |first=Douglas |date=March 19, 2000 |title=THE 2000 CAMPAIGN: THE VICE PRESIDENT; Gore Family's Ties to Oil Company Magnate Reap Big Rewards, and a Few Problems |work=[[The New York Times]] |url=https://www.nytimes.com/2000/03/19/us/2000-campaign-vice-president-gore-family-s-ties-oil-company-magnate-reap-big.html |url-access=subscription |access-date=December 28, 2017 |archive-date=February 24, 2018 |archive-url=https://web.archive.org/web/20180224025153/http://www.nytimes.com/2000/03/19/us/2000-campaign-vice-president-gore-family-s-ties-oil-company-magnate-reap-big.html |url-status=live }}</ref><ref>{{Cite news |last=Kong |first=Dolores |date=July 30, 2000 |title=Campaigner's finances Where the presidential hopefuls have invested their fortunes may reveal something about the character of each |work=[[The Boston Globe]] |url=http://graphics.boston.com/news/politics/campaign2000/news/Campaigner_s_finances+.shtml |access-date=March 5, 2007 |archive-date=October 15, 2007 |archive-url=https://web.archive.org/web/20071015063900/http://graphics.boston.com/news/politics/campaign2000/news/Campaigner_s_finances%2B.shtml |url-status=live }}</ref>

In 1998, the U.S. government sold the [[Elk Hills Oil Field]] to Occidental for $3.65 billion after an auction process that involved selling the field in segments and offering it to multiple bidders.<ref>{{Cite web |title=Sale of the Elk Hills Naval Petroleum Reserve |url=https://www.energy.gov/fe/sale-elk-hills-naval-petroleum-reserve |publisher=[[United States Department of Energy]] |access-date=February 28, 2019 |archive-date=February 28, 2019 |archive-url=https://web.archive.org/web/20190228193443/https://www.energy.gov/fe/sale-elk-hills-naval-petroleum-reserve |url-status=live }}</ref> However, critics cited the Gore family's involvement with the company as evidence of [[Graft (politics)|graft]].<ref name="goreties">{{Cite magazine |last=Tony |first=Karon |date=September 25, 2000 |title=Gore's Big Oil Connection: An 'Occident' of Birth? |magazine=[[Time (magazine)|Time]] |url=http://content.time.com/time/nation/article/0,8599,55826,00.html |access-date=March 2, 2017 |archive-date=March 3, 2017 |archive-url=https://web.archive.org/web/20170303123105/http://content.time.com/time/nation/article/0,8599,55826,00.html |url-status=live }}</ref>

===Safety record===
In 1999, OxyChem achieved Star Status under OSHA's Voluntary Protection Programs as being among the safest work sites in the U.S.<ref>{{Cite news |last=Minter |first=Steve |date=February 1, 1999 |title=OxyChem Profits from Partnership |work=EHS Today |url=https://www.ehstoday.com/news/ehs_imp_32795 |access-date=February 28, 2019 |archive-date=February 28, 2019 |archive-url=https://web.archive.org/web/20190228191856/https://www.ehstoday.com/news/ehs_imp_32795 |url-status=live }}</ref>

====Piper Alpha====
{{further|Piper Alpha}}
On July 6, 1988, the company's [[Piper Alpha]] offshore production platform in the [[North Sea]] was destroyed when an out of service gas [[condensate pump]] was started with its pressure [[safety valve]] removed. The subsequent [[gas leak]], explosion and fire resulted in the deaths of 167 workers in what remains the world's deadliest offshore disaster.<ref name=piper/> The subsequent inquiry blamed the accident on inadequate maintenance and safety procedures by Occidental, though no charges were brought.

===Greenmail===
In 1984, billionaire [[David Murdock]] owned about 5% of the company and was a member of its board of directors, after the company acquired [[IBP, Inc.]], of which Murdock owned 19%. After disagreements between Murdock and then CEO Armand Hammer, the company paid [[greenmail]] to buy Murdock's shares at $40.09 each, while the market price was $28.75.<ref>{{Cite news |last=COLE |first=ROBERT J. |date=July 20, 1984 |title=Occidental Buys Back 5% Stake |work=[[The New York Times]] |url=https://www.nytimes.com/1984/07/20/business/ocidental-buys-back-5-stake.html |url-access=subscription |access-date=March 4, 2017 |archive-date=January 19, 2017 |archive-url=https://web.archive.org/web/20170119215644/http://www.nytimes.com/1984/07/20/business/ocidental-buys-back-5-stake.html |url-status=live }}</ref>

=== Price-fixing lawsuit ===
In January 2024, a [[class action]] lawsuit was filed by drivers in three US states accusing Occidental, along with seven other oil and gas producers, of an illegal [[Price fixing|price-fixing]] scheme to constrain production of shale oil that led to American drivers paying more for gasoline than they would have in a competitive market.<ref>{{Cite web |last=Scarcella |first=Mike |date=2024-01-16 |title=Drivers sue US shale oil producers over alleged price-fixing scheme |url=https://www.reuters.com/legal/litigation/drivers-sue-us-shale-oil-producers-over-alleged-price-fixing-scheme-2024-01-16/ |url-status=live |archive-url=https://web.archive.org/web/20240121051029/https://www.reuters.com/legal/litigation/drivers-sue-us-shale-oil-producers-over-alleged-price-fixing-scheme-2024-01-16/ |archive-date=2024-01-21 |access-date=2024-04-28 |website=[[Reuters]]}}</ref>

==See also==
* [[List of oil exploration and production companies]]
{{clear right}}

==References==
{{Reflist}}

==Books==
*[[Edward Jay Epstein|Epstein, Edward Jay]]. ''Dossier: The Secret History of Armand Hammer''. New York: [[Random House]] (1996). {{ISBN|978-0679448020}}. 418 pages.

==External links==
*{{official website|https://www.oxy.com}}
{{Finance links
| name      = Occidental Petroleum
| google    = OXY
| yahoo     = OXY
| bloomberg = OXY:US
| reuters   = OXY.N
| sec_cik   = 797468 
}}

{{Petroleum industry}}

{{authority control|state=expanded}}

[[Category:1920 establishments in California]]
[[Category:American companies established in 1920]]
[[Category:Chemical companies of the United States]]
[[Category:Companies based in Houston]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Energy companies established in 1920]]
[[Category:Love Canal]]
[[Category:Natural gas companies of the United States]]
[[Category:Non-renewable resource companies established in 1920]]
[[Category:Oil companies of the United States]]
[[Category:Oil shale companies of the United States]]