Occidental Petroleum Corporation
0KAK.L
London Stock Exchange60.31
USD
+1.10
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Occidental Petroleum Corporation
0KAK.L
(London Stock Exchange)
Recent
price
60.31
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Occidental Petroleum Corporation (OXY; 0KAK.L) is an independent exploration and production company that focuses on hydrocarbon exploration and petrochemical manufacturing; it explores for, develops, produces and markets crude oil, natural gas liquids, condensate and natural gas primarily through its Oil and Gas segment; manufactures polyvinyl chloride resins, chlorine, caustic soda, caustic potash, chlorinated organics, sodium silicates, chlorinated cyanuric acid and calcium chloride through its Chemical segment via subsidiary OxyChem; and operates midstream and marketing activities. The company conducts operations in the United States, including the Permian Basin, Rockies, Gulf of Mexico and DJ Basin; the Middle East in Oman, the United Arab Emirates and Qatar; and Latin America with ventures in Colombia and Peru. Founded in 1920 and headquartered in Houston, Texas, Occidental holds significant proved reserves and employs enhanced oil recovery techniques such as carbon dioxide injection. In recent developments, Occidental completed its $12 billion acquisition of CrownRock in August 2024, expanding its Permian Basin footprint with low-cost, low-emission assets; acquired direct air capture technology firm Carbon Engineering for $1.1 billion in August 2023 and Holocene Climate Corp. in April 2025 to bolster its carbon removal portfolio; announced the $9.7 billion sale of OxyChem to Berkshire Hathaway in October 2025, retaining environmental liabilities while using proceeds including $6.5 billion to reduce debt; raised $704 million through an equity offering in July-August 2025 to fund growth initiatives like the STRATOS direct air capture plant; and signed a June 2024 memorandum of understanding with TAE Technologies to explore nuclear fusion for powering direct air capture projects.