Occidental
Fast Facts
Occidental Petroleum 2017
Occidental’s Permian Basin operations, Gaines County, Texas
Global Operations
500% Increase
Occidental is an international oil and gas exploration and production
Occidental has paid dividends every year since 1975 and
company with operations in the United States, Middle East and
increased its dividend for 14 consecutive years. The total increase
Latin America. Occidental’s wholly owned subsidiary OxyChem
in the annual dividend rate from 2002 is over 500 percent.
manufactures and markets basic chemicals and vinyls.
Partner of Choice
®
Occidental strives to be a Partner of Choice® everywhere we
Occidental Workforce
At year-end 2016, Occidental had more than 33,000 employees and
contractors supporting its worldwide operations.
operate, and has been named No. 1 in the Mining, Crude-Oil
Production category in FORTUNE’s World’s Most Admired Companies
list every reported year since 2008.
Top 100
189% Reserve Replacement
Occidental’s worldwide proved reserves at year-end 2016 totaled
2.4 billion barrels of oil equivalent (BOE), a 9 percent increase from
year-end 2015. Our reserve replacement ratio was 189 percent.
Occidental is one of the largest oil and gas companies in the
We replaced about 210 percent of Permian Basin production, with
United States, based on 2016 year-end market capitalization,
Permian Resources, our high-growth unconventional drilling asset,
and ranks No. 89 in the S&P 500.
replacing 290 percent of its production.
More than $1 Billion in Taxes
In 2016, Occidental paid more than $1.1 billion in taxes worldwide,
Over $12 Billion in
Economic Investment
including income, production, property and payroll taxes.
Occidental contributed approximately $12.1 billion to the U.S.
economy in 2016, through activities including taxes, salaries, returns
Oil-Focused
to investors and payments to other businesses and industries.
As of year-end 2016, oil and natural gas liquids comprised
74 percent of Occidental’s proved reserves.
Largest in the Permian Basin
Chemical Leader
OxyChem’s market position is among the top three U.S. producers
for the principal products it manufactures and markets.
Occidental’s core domestic assets are in the Permian Basin of
West Texas and southeast New Mexico, where we are the largest
operator and producer of oil.
Permian Basin Powerhouse
Five-Time Winner
Five-time winner of the American Chemistry Council’s top safety
performance award, including the “Responsible Care® Company of
the Year” award in 2015, in recognition of OxyChem’s outstanding
Occidental’s share of production in the Permian Basin was
achievements in environmental, health, safety and security
269,000 BOE per day in 2016, nearly 45 percent of our total
performance.
worldwide production from ongoing operations.
13% Unconventional Growth Committed to Safety
Occidental’s 2016 combined employee-and-contractor Injury and
Permian Resources produced an average of 124,000 BOE per day
Illness Incidence Rate (IIR) of 0.28 is less than one-tenth of the
in 2016, up 13 percent from last year.
current U.S. private industry average IIR of 3.0 published by the
U.S. Bureau of Labor Statistics.
CO 2 EOR Leader Our Permian EOR business injected an average of 2.0 billion
Community-Focused
cubic feet of carbon dioxide (CO2 ) per day into oil reservoirs,
In 2016, Occidental contributed approximately $13.2 million
making Occidental the largest CO2 injector in the Permian Basin
worldwide to qualifying non-profit and public service organizations,
and among the largest globally. CO2 EOR can increase ultimate oil
educational institutions and conservation partnerships through
recovery by 10 to 25 percent in fields where it is employed.
our philanthropic programs, including charitable and social
responsibility contributions.
Midstream Operations
Occidental’s Midstream operations own and operate 2,900 miles of
Socially Responsible
common carrier pipeline with 720,000 barrels per day of capacity
Occidental is committed to providing safe, healthy and secure
in the Permian Basin, ensuring equity and third-party production
workplaces; protecting the environment; maintaining high ethical
access to optimum market locations.
standards; upholding and promoting human rights; and respecting
cultural norms and values, everywhere we operate.
Oil Exports
In 2016, Occidental began exporting from its crude oil terminal in
Ingleside, Texas, to domestic and international markets.
5
United States
50%
In 2016, Occidental’s U.S. assets produced
300,000 BOE per day from ongoing
operations — approximately 50 percent
of the company’s worldwide production.
Occidental’s Permian Basin operations near Midland, Texas
International
50%
Production from Occidental’s core four international assets — Oman, Qatar
and the United Arab Emirates in the Middle East and Colombia in Latin America
— was approximately 302,000 BOE per day from ongoing operations in 2016.
Al Hosn Gas, Abu Dhabi, United Arab Emirates
Occidental by the Numbers
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2015
2016
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2016
Excludes Bahrain, California, Hugoton, Iraq, Libya, Piceance, Williston and Yemen.
For additional information, refer to Occidental’s 2016 Form 10-K,
available at oxy.com | Published May 2017