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About Occidental Petroleum
Occidental Petroleum Corporation (Oxy) is an American, Houston-based oil and gas exploration and production company with operations in the United States, the Middle East region, and South America.
Occidental Petroleum is one of the largest oil producers in Texas, and has additional operations in North Dakota, Colorado, and New Mexico. The company nickname began in 1964 in reference to Occidental's NYSE stock ticker (OXY). Oxy is one of the largest US oil and gas companies, based on 2014 year-end equity market capitalization. As of 2015, the company has more than 40,000 employees and contractors worldwide.
Oxy's subsidiaries include wholly owned chemical manufacturers Occidental Chemical Corporation (OxyChem), OxyVinyls, and INDSPEC Chemical Corporation. Oxy indirectly owns Armand Products Company with Church & Dwight Co., Inc. Oxychem sold its investment in Carbocloro S.A. Indústrias Químicas, a joint venture between OxyChem and UNIPAR in Brazil.
Oxy's role in oil and natural gas exploration and production, to which they have pledged a commitment to responsibility, has also been a target of criticism and controversies. The company states that it is "committed to respecting the environment, protecting safety and upholding high standards of social responsibility throughout its worldwide operations." Critics have raised concerns about Occidental's historical operations in these areas.
Today, Dallas-based Occidental Chemical is a leading chemical manufacturer with interests in basic chemicals, vinyls and performance chemical products. Vicki Hollub, who has worked as Occidental for around three decades, was announced to be the new CEO effective as of the 2016 annual shareholders' meeting.