About the company
Founded in 1920, Occidental Petroleum has established itself as a prominent player in the global energy industry. With a strong presence in various regions, including the United States, Latin America, and the Middle East, the company holds a diversified portfolio of exploration and production assets. In the United States, Occidental Petroleum operates both onshore and offshore, tapping into the nation's rich oil and gas resources. The company has a proven track record of successful operations in major shale plays such as the Permian Basin, where it has been at the forefront of the shale revolution. Occidental's expertise in unconventional resource development has allowed it to unlock vast reserves and maximize production efficiency. Beyond North America, Occidental has been actively expanding its footprint in Latin America. The company has operations in countries like Colombia and Ecuador, where it has made significant investments in exploration and production activities. These strategic moves have enabled Occidental to access new reserves and capitalize on the region's promising energy potential. With a focus on diversification, Occidental Petroleum also has a presence in the Middle East. The company has partnered with national oil companies in the region, leveraging its technical expertise and operational capabilities. By participating in joint ventures and sharing knowledge, Occidental has been able to tap into the Middle East's vast hydrocarbon reserves, contributing to its overall production growth. At the close of 2022, Occidental Petroleum reported net proved reserves of approximately 3.8 billion barrels of oil equivalent (BOE). This metric reflects the company's capability to extract and economically recover hydrocarbon reserves across its global operations. The proven reserves play a crucial role in defining Occidental's long-term production potential and its ability to meet the world's energy demands. Speaking of production levels, Occidental Petroleum achieved an average net production of around 1,159 thousand BOE per day in 2022. This impressive output is a testament to the company's operational excellence and its ability to deliver consistent results. The production mix comprises approximately 75% oil and natural gas liquids (NGLs) and 25% natural gas. This balanced mixture allows the company to capture the value of both oil and gas commodities, diversifying its revenue streams. Occidental's success can be attributed to its commitment to sustainable and responsible production practices. The company adheres to rigorous environmental, social, and governance standards, prioritizing the well-being of the communities it operates in and minimizing its carbon footprint. By embracing innovation and investing in technologies to enhance efficiency and reduce emissions, Occidental is actively playing its part in the global energy transition. Looking ahead, Occidental Petroleum continues to explore opportunities for growth and value creation. The company remains resilient, adapting to the ever-evolving energy landscape while ensuring long-term profitability. Through strategic investments, partnerships, and a relentless pursuit of excellence, Occidental is set to remain a key player in the global energy sector, contributing to the world's energy security for years to come.
Website: https://www.oxy.com
Data updated: June 2, 2026
