Occidental Petroleum

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Occidental Petroleum Corporation

logo
legal form Corporation
ISIN US6745991058
founding 1920
Seat Los Angeles , California ,United StatesUnited States
management Vicki A. Hollub
Number of employees 14,400
sales 20.4 billion US dollars
Branch Oil and gas , chemistry
Website www.oxy.com
As of December 31, 2019

Occidental Petroleum Corporation ( Oxy for short ) is an international US company that is active in the exploration and production of oil and natural gas . The current chairman and CEO of the company is Vicki A. Hollub (since April 2016). From 1990 to 2013 this was Ray Irani and then Stephen Chazen. The time under Armand Hammer from 1953 to 1986 was formative for the development of the company founded in 1920 .

oil and gas

Delivery rates
(as of 2015) 		reserved
ven 		Förde-
tion
Crude oil (in million barrels ) 01309 0159
NGLs (in million barrels ) 00330 0027
Natural gas (billion cubic feet / bcf) 03368 0360

Occidental Petroleum is a leader in tertiary oil production in the Permian Basin, Texas. Outside the US, the company produces in the United Arab Emirates (40 percent of the Al Hosn gas field ), Qatar (24.5 percent of the Dolphin gas project ), Oman (oil) and Colombia (oil).

Occidental's deposits in the Hugoton Basin were exhausted in 2014 and those in the Williston Basin, North Dakota, were sold in November 2015.

At the auctions of the Iraqi oil ministry , a consortium consisting of the Italian ENI , KOGAS and Occidental Petroleum won the bid for the Zubair oil field, named after the nearby city of Zubair . The field contains estimated reserves of at least 6.6 billion barrels of oil. In 2015 Occidental Petroleum announced the sale of its shares.

Occidental Petroleum ended or reduced its involvement there due to the conflicts in Yemen and Libya.

The management of Anadarko Petroleum , which is also active in oil and natural gas production, approved a takeover offer in May 2019, which Occidental made with the support of US investor Warren Buffett .

chemistry

product Capacity
(thousand t)
chlorine 03450
Caustic soda 03600
Organochlorine compounds 00400
Potassium compounds 00360
Ethylene dichloride 00950
chlorinated isocyanurates 00060
Sodium silicates 00550
Calcium chloride 00640
Vinyl chloride monomer (VCM) 02800
Polyvinyl chloride (PVC) 01700
Resorcinol 00023

Occidental Petroleum owns numerous chemical plants with OxyChem (Occidental Chemical Corporation) and INDSPEC Chemical Corporation. OxyChem mainly produces basic chemicals based on chloralkali electrolysis , such as chloromethane , dichloromethane , chloroform (trichloromethane), tetrachloromethane , ethylene dichloride , tetrachloroethene , calcium chloride , hydrogen chloride (or hydrochloric acid ), sodium hypochlorite , sodium hydroxide and potassium hydroxide .

OxyChem is the world's largest manufacturer of calcium chloride and North America's second largest PVC manufacturer. The Indspec from Petrolia (Pennsylvania) is the largest producer of resorcinol and resorcinol in the world.

The joint venture Armand Products , the largest producer of potassium carbonate and potassium hydrogen carbonate , is operated together with Church & Dwight .

criticism

Occidental Petroleum became famous in 1988 with the disaster of the Piper Alpha oil rig .

The state of Ecuador unilaterally terminated the concession agreements with Oxy in May 2006, as it accused the company of numerous human rights violations against the Shuar Indians.

Individual evidence

  1. ↑ a b Vicki A. Hollub, Director since 2015 ( Memento of the original from September 21, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.oxy.com
  2. ↑ a b [1]
  3. ↑ a b c d Form 10-K 2015
  4. ↑ Graphic about Iraqi oil auctions
  5. ↑ Oxy to sell Zubair stake , November 11, 2015
  6. ↑ Economy, trade & finance: Chevron leaves the bidding war for Anadarko - Occidental probably at its destination. Retrieved May 23, 2019 .
  7. ↑ Anadarko Agrees To Be Acquired By Occidental. Retrieved May 23, 2019 (American English).
  8. ↑ Alkali Products ( Memento from November 26, 2014 in the Internet Archive ).
  9. ↑ Oxychem: Calcium Chloride ( Memento from November 15, 2014 in the Internet Archive ).
  10. ^ North America Leads Global Calcium Chloride Market
  11. ↑ Shin-Etsu's Shintech subsidiary at 40
  12. ↑ Indspec website ( Memento from September 25, 2015 in the Internet Archive ).
  13. ^ Armand Products ( Memento of November 29, 2014 in the Internet Archive ).