Occidental Petroleum Corporation, OXY

Corporate

Occidental Oil Corporation came into being in the 1920s in the state of California in the United States. Today it has grown to be a leading global integrated energy company and a leading North American Chemical Company.

OXY’s real growth toward global dominance began in 1961 with its first major discovery of the second largest dry gas field at Lathrop in California. Within the United States, OXY is the largest oil producer in Texas and the 2nd largest gas producer in California.

Activities

OXY is engaged in:

Oil and Gas Exploration
Enhanced Oil Recovery
Oil refining, marketing and distribution
CO2 flood technology
“Perfect Well Analysis”
Acquisitions – an integral part of OXY’s growth strategy
Manufacture of basic chemicals, vinyls and performance chemicals

Performance

In fiscal 2006 OXY’s revenue was 17,661 million USD which was approximately 21 % more than what it was in the fiscal before.

The total value of the assets held by OXY in fiscal 2006 was 32,355 million USD which was approximately 24 % more than what it was in the fiscal before.

Growth revenues over the last 2 years

OXY’s net income in fiscal 2006 was 4,182 million USD which was approximately 26.27 less than what it was in the fiscal before.

Growth in profits over the last 2 years

Assets and Infrastructure

OXY’s oil and gas operations are spread out globally in:

The United States
Columbia
Bolivia
Argentina
Libya
Yemen
Oman
UAE
Pakistan

Research & Development

As a leading producer of hydro carbons, OXY invests considerably in technologies that allows it to interpret complex geological data to identify and exploit oil and gas in the most challenging geological formations in an economically beneficial manner.
CO2 Flood Technology: It is a highly effective method of extracting residue oil that is normally left unexploited when a well is abandoned.
Perfect Well Analysis: It is a virtual concept used to improve drilling efficiency and has allowed OXY to gain a competitive advantage.

Organization

Occidental Petroleum is headed by Dr. RR Irani who is the President and CEO of the company.
Occidental Petroleum employs over 8,000 people worldwide.

Occidental Petroleum’s corporate office is located at

10889 Wilshire Boulevard
Los Angeles,
California 90024-4201
310.208.8800
Website: www.oxy.com