Occidental Petroleum Company Description
Harnessing its heritage of Western technical know-how, Occidental Petroleum engages in oil and gas exploration and production and makes basic chemicals, plastics, and petrochemicals. In 2008 the oil giant reported proved reserves of 3 billion barrels of oil equivalent in the US, the Middle East, North Africa, and Latin America. Subsidiary Occidental Chemical (OxyChem) produces acids, chlorine, and specialty products; it also owns OxyVinyls, the #1 producer of polyvinyl chloride (PVC) resin in North America. Occidental Petroleum's midstream and marketing operations gather, treat, process, transport, store, trade and market crude oil, natural gas, NGLs, condensate and CO2 and generate and market electricity.
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The Company Description provides a historical perspective of Occidental Petroleum's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Occidental Petroleum's evolution in the marketplace.