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Occidental Petroleum Corporation, alongside its subsidiaries, specializes in the acquisition, exploration, and development of oil and gas properties across diverse regions including the United States, the Middle East, Africa, and Latin America. The company operates through three distinct segments: Oil and Gas, Chemical, and Midstream and Marketing. Within the Oil and Gas segment, Occidental Petroleum engages in exploration activities to uncover and produce oil, condensate, natural gas liquids (NGLs), and natural gas resources.
The Chemical segment of Occidental Petroleum focuses on manufacturing and distributing a range of essential chemicals. These include chlorine, caustic soda, various potassium chemicals, chlorinated isocyanurates, and ethylene dichloride among others. The segment also encompasses the production and marketing of vinyls such as polyvinyl chloride and vinyl chloride monomer, supporting diverse industrial applications.
Additionally, Occidental Petroleum's Midstream and Marketing segment plays a crucial role in the energy value chain. It manages the gathering, processing, transportation, and storage of oil, condensate, NGLs, natural gas, carbon dioxide, and power. The segment's operations extend to trading activities that leverage transportation and storage capacities, alongside strategic investments in related entities. Founded in 1920 and headquartered in Houston, Texas, Occidental Petroleum continues to drive innovation and sustainability within the global energy sector through its integrated approach to exploration, production, and chemical manufacturing.
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