Occidental Petroleum

NYSE: OXY

Updated Mar 29, 2026

Profile compiled and reviewed by the Houston Oil Companies Data Team from public filings and company sources.

Integrated · E&P / Chemicals

Occidental Petroleum

OXY

Occidental Petroleum is a major oil and gas producer known for its Permian Basin dominance and carbon capture leadership.

Founded: 1920
Employees: 12,000+
Revenue: $28 billion (2023)
HQ: Houston, TX

Permian BasinCarbon Capture (CCUS)Enhanced Oil RecoveryChemicals (OxyChem)

Occidental Petroleum Corporation (Oxy) is an international energy company with significant operations in the United States, the Middle East, and North Africa. The company is one of the largest oil producers in the Permian Basin and is a global leader in carbon capture, utilization, and storage (CCUS) technology. Warren Buffett's Berkshire Hathaway is a major shareholder.

Headquarters

Houston, TX

Founded

1920

Employees

12,000+

Revenue

$28 billion (2023)

CEO

Vicki Hollub

Website

oxy.com

History of Occidental Petroleum

Founded in 1920 in California, Occidental grew under the legendary Armand Hammer, who expanded the company into Libya and other international markets. The company acquired Anadarko Petroleum in 2019 for $38 billion, making it one of the largest Permian Basin operators. OXY has since become a leader in direct air capture technology through its 1PointFive subsidiary.

Operations & Business Segments

Oxy operates primarily in the Permian Basin (New Mexico and Texas), the DJ Basin (Colorado), the Gulf of Mexico, Oman, and the UAE. Its OxyChem subsidiary is one of North America's largest producers of chlorine and caustic soda. The company's 1PointFive subsidiary is building the world's largest direct air capture facility in Texas.

Headquarters Location

Houston, TX

Key Specialties & Capabilities

Permian BasinCarbon Capture (CCUS)Enhanced Oil RecoveryChemicals (OxyChem)Direct Air CaptureMiddle East Operations

Frequently Asked Questions About Occidental Petroleum

Why is Warren Buffett investing in Occidental Petroleum?▾

Warren Buffett's Berkshire Hathaway has accumulated a significant stake in Occidental, reportedly attracted by its strong Permian Basin assets, leadership in carbon capture technology, and disciplined capital allocation.

What is Occidental Petroleum's 1PointFive?▾

1PointFive is Occidental's subsidiary focused on building direct air capture (DAC) facilities that remove CO2 directly from the atmosphere. It is constructing the world's largest DAC plant in West Texas.

Where does Occidental Petroleum operate?▾

Occidental operates primarily in the Permian Basin, DJ Basin, Gulf of Mexico, Oman, UAE, and Algeria. Its chemical subsidiary OxyChem operates plants across the US.

What does Occidental Petroleum do in Houston?▾

Occidental Petroleum is a integrated company based in Houston, TX. Occidental Petroleum is a major oil and gas producer known for its Permian Basin dominance and carbon capture leadership.

Where is Occidental Petroleum headquartered?▾

Occidental Petroleum is headquartered in Houston, TX, founded in 1920. The company operates in Houston's energy corridor as part of the integrated sector.