Occidental Pet Stock Price, News & Analysis
Company Description
Occidental Petroleum Corporation (NYSE: OXY), commonly referred to as Occidental or Oxy, is an international energy company focused on the exploration, production, marketing and transportation of oil and natural gas. The company describes its purpose as producing, marketing and transporting oil and natural gas to maximize value and provide resources fundamental to life. Occidental emphasizes the use of its global leadership in carbon management to advance lower-carbon technologies and products.
Headquartered in Houston, Texas, Occidental’s assets are described as being primarily in the United States, the Middle East and North Africa. According to the company, it is one of the largest oil and gas producers in the United States, including a leading position in the Permian and DJ basins and operations offshore in the Gulf of America. Occidental’s activities span the upstream production of hydrocarbons as well as midstream and marketing functions that provide flow assurance and seek to maximize the value of its oil and gas.
Business segments and operations
Occidental highlights three main areas of activity in its public descriptions. First, its oil and gas operations, where it is one of the largest producers in the U.S. and operates significant positions in the Permian Basin, the DJ Basin and offshore Gulf of America. Second, its midstream and marketing segment, which the company states provides flow assurance and maximizes the value of its oil and gas. Third, its low-carbon ventures, which are organized under the Oxy Low Carbon Ventures subsidiary and are described as advancing technologies and business solutions that economically grow the business while reducing emissions.
In multiple public communications, Occidental states that it is dedicated to using its global leadership in carbon management to advance a lower-carbon world. The company presents its low-carbon ventures as integrated with its broader energy operations, with an emphasis on technologies and business approaches intended to reduce emissions while supporting its hydrocarbon portfolio.
Historical chemical business and divestiture
Occidental historically operated a chemical subsidiary known as OxyChem. This business is described in company materials as manufacturing the building blocks for life-enhancing products and as a global manufacturer of commodity chemicals with applications in water treatment, pharmaceuticals, healthcare and commercial and residential development. OxyChem was part of Occidental’s portfolio for many years and was frequently referenced alongside the company’s oil and gas and midstream and marketing activities.
On October 1, 2025, Occidental’s subsidiaries Occidental Chemical Holding, LLC and Environmental Resource Holdings, LLC entered into a purchase and sale agreement with Berkshire Hathaway Inc. for the sale of Occidental Chemical Corporation, which held Occidental’s chemical business. According to an on Form 8-K filed on October 3, 2025, Berkshire Hathaway agreed to acquire all of the issued and outstanding equity interests in Occidental Chemical Corporation in an all-cash transaction, subject to customary adjustments. Occidental subsequently reported in an on Form 8-K dated January 2, 2026, that it completed this divestiture for $9.7 billion in cash, subject to customary purchase price adjustments.
In connection with the divestiture, Occidental disclosed that Environmental Resource Holdings, LLC retained OxyChem’s legacy tort claims and environmental liabilities primarily associated with historical operations outside the footprint of the operating facilities that were sold. Glenn Springs Holdings, Inc., a wholly owned indirect subsidiary, continues to manage remedial activities at environmental sites on behalf of Environmental Resource Holdings, as described in Occidental’s press release and related Form 8-K disclosures.
Geographic footprint and asset base
Occidental describes itself as having assets primarily in the United States, the Middle East and North Africa. Within the United States, the company identifies itself as one of the largest oil and gas producers, specifically noting a leading position in the Permian Basin and DJ Basin and operations offshore in the Gulf of America. These areas are central to its upstream oil and gas business, which has been a focus of the company’s portfolio, particularly as it has executed asset divestitures and acquisitions.
According to a description from Polygon data, Occidental is characterized as an independent exploration and production company with operations in the United States, Latin America and the Middle East. That description also notes that at the end of 2023 the company reported net proved reserves of nearly 4 billion barrels of oil equivalent and that net production in 2024 averaged 1.327 million barrels of oil equivalent per day at a mix of oil and natural gas liquids and natural gas. While these figures are historical and subject to change over time, they illustrate the scale of Occidental’s hydrocarbon resource base and production profile during that period.
Capital structure, asset sales and portfolio focus
Occidental’s public disclosures and SEC filings emphasize efforts to manage its balance sheet and portfolio through acquisitions, divestitures and debt reduction. In an August 6, 2025 press release, the company announced that it had signed four agreements to divest select Permian Basin assets, generating approximately $950 million in proceeds intended for debt reduction. That release stated that, since a December 2023 announcement of the CrownRock acquisition, total divestitures had reached approximately $4 billion and that since July 2024 the company had repaid $7.5 billion of debt, including proceeds from non-core Delaware Basin transactions.
Occidental has also reported the acquisition of CrownRock, L.P., a Delaware limited partnership, which was consummated on August 1, 2024, according to an on Form 8-K referenced in a July 28, 2025 filing. The company has filed unaudited pro forma condensed combined financial statements to give effect to that acquisition, illustrating how CrownRock’s assets and operations are integrated into Occidental’s financial reporting. These transactions, together with the OxyChem divestiture to Berkshire Hathaway, are presented by Occidental as part of a broader effort to strengthen its financial position and focus on what it describes as a deep and diverse oil and gas portfolio.
Low-carbon ventures and carbon management focus
Occidental repeatedly highlights its Oxy Low Carbon Ventures subsidiary in its public descriptions. The company states that this subsidiary advances technologies and business solutions that economically grow the business while reducing emissions. Occidental also describes itself as leveraging its global leadership in carbon management to advance a lower-carbon world. While detailed technical descriptions of specific projects are not provided in the supplied materials, the emphasis on carbon management and low-carbon ventures is a recurring theme in the company’s communications.
In addition to its low-carbon ventures, Occidental’s public statements include cautionary notes regarding health, safety and environmental risks, regulatory changes and climate-related litigation and regulation. These factors are listed among the risks that could cause actual outcomes to differ from forward-looking statements in multiple Form 8-K filings, underscoring the regulatory and environmental context in which the company operates.
Regulatory reporting and investor communications
Occidental is a registrant with the U.S. Securities and Exchange Commission and files periodic and current reports, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The company uses Form 8-K filings to report material events such as acquisitions and divestitures, financial results, earnings considerations and securities offerings. Examples include Form 8-K filings on July 14, 2025 and October 10, 2025, in which Occidental furnished summaries of factors management believed would impact quarterly results, and Form 8-K filings on August 6, 2025 and November 10, 2025, in which it furnished press releases announcing financial condition and results of operations for specific quarters.
Occidental also uses press releases and investor presentations, referenced in its Form 8-K filings, to communicate with shareholders and the broader market. These materials cover topics such as quarterly earnings, dividends, asset divestitures, acquisitions and significant transactions like the sale of OxyChem. The company notes that certain information furnished under Item 2.02 or Item 7.01 of Form 8-K is not deemed filed for purposes of Section 18 of the Exchange Act, which is a standard disclosure regarding the legal status of such information.
Trading information and sector classification
Occidental’s common stock trades on the New York Stock Exchange under the symbol OXY. Based on the provided classification, the company is associated with the crude petroleum and natural gas extraction industry within the broader mining, quarrying and oil and gas extraction sector. Its business description as an international energy company with major oil and gas production, midstream and marketing activities and a focus on carbon management aligns with this sector classification.
FAQs about Occidental Petroleum Corporation (OXY)
- What does Occidental Petroleum Corporation do?
Occidental Petroleum Corporation is an international energy company that produces, markets and transports oil and natural gas. The company also operates a midstream and marketing segment that provides flow assurance and seeks to maximize the value of its oil and gas, and it highlights a focus on carbon management and low-carbon ventures through its Oxy Low Carbon Ventures subsidiary. - Where does Occidental operate?
Occidental describes its assets as being primarily in the United States, the Middle East and North Africa. Within the United States, it identifies itself as one of the largest oil and gas producers, including a leading position in the Permian and DJ basins and operations offshore in the Gulf of America. - What is Oxy Low Carbon Ventures?
Oxy Low Carbon Ventures is a subsidiary of Occidental that the company describes as advancing technologies and business solutions that economically grow the business while reducing emissions. It is part of Occidental’s broader emphasis on using its global leadership in carbon management to advance a lower-carbon world. - What happened to Occidental’s chemical business, OxyChem?
Occidental’s chemical business, operated through Occidental Chemical Corporation and known as OxyChem, was subject to a purchase and sale agreement with Berkshire Hathaway Inc. dated October 1, 2025. According to an on Form 8-K dated January 2, 2026, Occidental completed the divestiture of OxyChem to Berkshire Hathaway for $9.7 billion in cash, subject to customary purchase price adjustments. - Does Occidental retain any liabilities related to OxyChem after the sale?
Yes. Occidental has disclosed that Environmental Resource Holdings, LLC, a wholly owned indirect subsidiary, retained OxyChem’s legacy tort claims and environmental liabilities primarily associated with historical operations outside the footprint of the operating facilities that were sold. Glenn Springs Holdings, Inc. continues to manage remedial activities at environmental sites on behalf of Environmental Resource Holdings. - How does Occidental describe its position in U.S. oil and gas production?
In its public descriptions, Occidental states that it is one of the largest oil and gas producers in the United States. It also notes that it is a leading producer in the Permian and DJ basins and has operations offshore in the Gulf of America. - What role does the midstream and marketing segment play for Occidental?
Occidental describes its midstream and marketing segment as providing flow assurance and maximizing the value of its oil and gas. This segment is presented as supporting the company’s upstream production by managing transportation, processing and marketing activities. - What major portfolio actions has Occidental reported in recent years?
Occidental has reported several significant portfolio actions, including the acquisition of CrownRock, L.P., which was consummated on August 1, 2024, and the divestiture of its chemical business OxyChem to Berkshire Hathaway, completed on January 2, 2026. The company has also announced multiple divestitures of select Permian Basin assets and related midstream assets, with proceeds used for debt reduction. - How does Occidental communicate financial results to investors?
Occidental issues press releases announcing its financial condition and results of operations for each quarter and furnishes these releases on Form 8-K under Item 2.02. The company also holds conference calls to discuss results and provides earnings considerations in advance of certain quarters, which are furnished on Form 8-K. - On which exchange does OXY trade and what sector is it in?
Occidental’s common stock trades on the New York Stock Exchange under the ticker symbol OXY. Based on the provided classification, the company operates in the crude petroleum and natural gas extraction industry within the mining, quarrying and oil and gas extraction sector.