Occidental Petroleum (OXY)
Frequently Asked Questions About Occidental Petroleum (OXY)
How does Occidental Petroleum approach community engagement?
Occidental Petroleum prioritizes community engagement and corporate social responsibility by actively participating in dialogues with local stakeholders and addressing community needs. The company invests in local education, environmental stewardship initiatives, and economic development programs to foster positive relationships with the communities where it operates.
How does Occidental Petroleum ensure safety in operations?
Occidental Petroleum places a strong emphasis on safety in all its operations through rigorous training programs, adherence to strict safety protocols, and investment in advanced technologies that enhance operational safety. The company strives to maintain a culture of safety and continuous improvement to prevent accidents and protect its workforce and the environment.
How does Occidental Petroleum's dividend policy work?
Occidental Petroleum has a history of paying dividends to its shareholders, reflecting its commitment to returning capital. The company employs a variable dividend policy, which can change based on cash flow and overall business performance, allowing it to reward shareholders while maintaining financial flexibility.
How has Occidental Petroleum adapted to market changes?
Occidental Petroleum has adopted a flexible and adaptive business model to respond to market changes, including fluctuations in oil prices and demand. The company’s measures include adjusting production levels, investing in technology for operational efficiency, maintaining a strong balance sheet, and promoting cost management initiatives to navigate industry volatility.
Is Occidental Petroleum publicly traded?
Yes, Occidental Petroleum is publicly traded on the New York Stock Exchange under the ticker symbol OXY. The company’s shares are available for purchase by individual and institutional investors, making it one of the well-known publicly traded oil and gas corporations.
What are Occidental Petroleum’s primary regions of operation?
Occidental Petroleum operates in several key regions, primarily in the United States, the Middle East, and Latin America. The company has a significant presence in the Permian Basin, oil-rich regions in California, and offshore operations in Oman and Colombia, among other areas.
What are the main products of Occidental Petroleum?
Occidental Petroleum’s main products include crude oil, natural gas, and natural gas liquids (NGLs). In addition to these hydrocarbons, the company also produces various chemical products through OxyChem, contributing to sectors like construction, healthcare, and consumer goods.
What does Occidental Petroleum do?
Occidental Petroleum Corporation, commonly referred to as Oxy, is an international oil and gas exploration and production company. The company also has significant chemicals operations and engages in midstream operations, including the transportation, storage, and sale of oil and gas. Occidental is known for its vast operations in the United States and internationally, with a strong focus on sustainability and reducing carbon emissions.
What efforts is Occidental Petroleum making towards sustainability?
Occidental Petroleum is investing heavily in sustainability initiatives, including carbon capture and storage (CCS) technologies aimed at reducing greenhouse gas emissions. The company’s goal is to achieve net-zero emissions by 2050, and it actively engages in projects promoting environmentally responsible practices throughout its operations.
What is Occidental Petroleum’s strategy for the Permian Basin?
Occidental Petroleum’s strategy in the Permian Basin focuses on optimizing its operations and implementing technology-driven approaches to enhance oil recovery. The company aims to increase production efficiency while minimizing costs and environmental impact through innovative techniques like digital oilfield technologies and enhanced oil recovery methods.
What is Occidental’s position on renewable energy?
While Occidental Petroleum is primarily focused on fossil fuels, the company recognizes the importance of transitioning to renewable energy sources. Occidental is exploring avenues in the renewable space, particularly through its efforts in carbon management and partnerships in developing clean hydrogen and other low-carbon energy solutions.
What is Oxy Low Carbon Ventures?
Oxy Low Carbon Ventures is a subsidiary of Occidental Petroleum dedicated to developing technologies and business strategies focused on carbon management and sustainability. This division aims to accelerate innovation in carbon capture, utilization, and storage, and to facilitate partnerships that support low-carbon energy solutions.
What is the significance of carbon capture to Occidental Petroleum?
Carbon capture is central to Occidental Petroleum's sustainability strategy, as the company believes it plays a crucial role in mitigating climate change. By investing in carbon capture technologies, Occidental aims to capture CO2 emissions from its operations and store them safely underground, thereby contributing to global efforts to reduce atmospheric carbon levels.
What recent acquisitions has Occidental Petroleum made?
One of the most notable recent acquisitions by Occidental Petroleum was its acquisition of Anadarko Petroleum in 2019, which significantly expanded its footprint in the oil and gas market, particularly in the Permian Basin and in international operations, further enhancing its reserves and production capacity.
What role does Occidental Petroleum play in the chemical industry?
In addition to its upstream oil and gas operations, Occidental Petroleum is involved in the chemical industry through its subsidiary, OxyChem. OxyChem produces a range of chemical products, such as polyvinyl chloride (PVC), caustic soda, and other specialty chemicals, which are crucial in various manufacturing processes.
What role does technology play in Occidental Petroleum's operations?
Technology is integral to Occidental Petroleum's operations, as the company utilizes advanced data analytics, automation, and innovative extraction techniques to enhance productivity and efficiency. By leveraging technology, Occidental aims to lower operational costs, improve safety, and minimize environmental impact while optimizing resource extraction.
When was Occidental Petroleum founded?
Occidental Petroleum was founded in 1920 by Armand Hammer. Over the years, the company has grown through numerous acquisitions and expansions, establishing itself as a major player in the oil and gas industry.
Where is Occidental Petroleum headquartered?
Occidental Petroleum is headquartered in Houston, Texas. The company's home base is situated in one of the largest oil and gas hubs in the U.S., enabling it to effectively manage its extensive upstream and midstream operations across various regions.
Who is the CEO of Occidental Petroleum?
As of October 2023, the President and CEO of Occidental Petroleum is Vicki Hollub. Appointed in 2016, she is the first woman to lead a major oil and gas company and has been instrumental in steering the company towards sustainable practices and innovative oil recovery technologies.
What is the current price of Occidental Petroleum?
The current price of Occidental Petroleum is 49.33
When was Occidental Petroleum last traded?
The last trade of Occidental Petroleum was at 7:00 pm EDT on April 2nd, 2025
What is the market capitalization of Occidental Petroleum?
The market capitalization of Occidental Petroleum is 46.06B
How many shares of Occidental Petroleum are outstanding?
Occidental Petroleum has 933.73M shares outstanding.