Oil And Gas Exploration And Production Company

Better Essays

Headquartered in Houston, Occidental Petroleum Corporation is the fourth largest U.S. oil and gas exploration and production company based on equity market capitalization with operations in Middle East, North America, North Africa and United States. Occidental Petroleum or “Oxy” mainly operates through three of its subsidiaries, Occidental Oil and Gas, OxyChem and Midstream and Marketing.
Oil and Gas
Oxy’s oil and gas exploration and production operations are focused on mainly three core areas – The U.S, North Africa/Middle East and the Latin America. As of Dec’13, Oxy had approximately 3.5 billion barrels of oil equivalent net proved reserves making it one of the largest oil and gas producers in California, U.S. based on gross operated barrels of oil equivalents.
Oxy’s growth strategy in this domain has primarily relied on Enhanced Oil Recovery (Explain), exploration and acquisitions.
This is a wholly owned division of Oxy and is a leading manufacturer of polyvinyl chloride (PVC) resins, chlorine and caustic soda in America. These products form an important part of a variety of products such as plastics, pharmaceuticals and water treatment chemicals. The manufacturing facilities are mainly concentrated in US, Canada and Chile.
Midstream and Marketing
This segment of Oxy gathers, processes, transports, stores, purchases and markets oil, condensate, natural gas liquids (NGLs), natural gas, carbon dioxide (CO2) and power. It also trades around its assets,

Get Access