Here are 1-2 brief analogies for Occidental Petroleum (OXY):

• A major U.S. oil and gas producer, similar to Chevron, but without the large refining and retail presence.
• A large energy company that primarily extracts oil and also produces industrial chemicals, much like a more concentrated version of ExxonMobil.

• Crude Oil: Occidental extracts, processes, and markets crude oil from its global operations.
• Natural Gas and NGLs: The company produces and sells natural gas and natural gas liquids (NGLs) to various markets.
• Chemical Products: Through its OxyChem subsidiary, Occidental manufactures and markets essential chemicals, including chlorine, caustic soda, and PVC.
• Carbon Management Services: Occidental offers solutions for carbon capture, utilization, and sequestration (CCUS) to reduce emissions.

Occidental Petroleum (NYSE: OXY) primarily sells its products to other companies, not directly to individuals. As a major producer of crude oil, natural gas, and commodity chemicals, its customer base consists of industrial purchasers.

It is generally not customary for commodity producers like Occidental Petroleum to publicly name their "major customers" unless a single customer represents a significant portion (e.g., 10% or more) of their revenue, which is rarely the case due to the diversified nature of commodity markets. Instead, OXY sells its products to a broad range of industrial customers across various sectors. The primary categories of customers and examples of public companies operating in those sectors that typically purchase OXY's products include:

• Oil Refiners and Marketers: These companies purchase crude oil from OXY to process into refined products such as gasoline, diesel, and jet fuel.
  • Valero Energy Corporation (NYSE: VLO)
  • Marathon Petroleum Corporation (NYSE: MPC)
  • Phillips 66 (NYSE: PSX)
• Natural Gas Utilities, Industrial Users, and Traders: These customers purchase natural gas and natural gas liquids for power generation, industrial feedstock, heating, or for trading and distribution purposes.
  • Large industrial complexes
  • Power generation companies
  • Energy trading firms
  • Example: Cheniere Energy, Inc. (NYSE: LNG) (as a major purchaser of natural gas for liquefaction and export)
• Industrial Chemical Manufacturers: Through its OxyChem segment, OXY sells basic chemicals like chlorine, caustic soda, and PVC to a wide array of industrial customers for use as raw materials in their own manufacturing processes. These customers operate in sectors such as:
  • Plastics manufacturing
  • Construction materials
  • Automotive
  • Pharmaceuticals
  • Water treatment
  • Example: Westlake Corporation (NYSE: WLK) (a large diversified chemical company that uses similar basic chemicals as inputs)

Vicki Hollub President and Chief Executive Officer

Vicki Hollub became President and CEO of Occidental Petroleum in April 2016, making her the first woman to lead a major American oil company. She has been an employee of Occidental since 1981, having started her career with Cities Service, which was acquired by Occidental in 1982. Throughout her more than 40-year career with Oxy, Ms. Hollub has held various management and technical positions across three continents, including roles in the United States, Russia, Venezuela, and Ecuador. Prior to her CEO appointment, she served as President and Chief Operating Officer, overseeing the company's oil and gas, chemical, and midstream operations. Ms. Hollub was instrumental in leading Occidental's expansion in the Permian Basin in West Texas and southeastern New Mexico.

Sunil Mathew Senior Vice President and Chief Financial Officer

Sunil Mathew was appointed Senior Vice President and Chief Financial Officer of Occidental Petroleum effective August 9, 2023. He brings 25 years of experience in the oil and gas industry. Mr. Mathew joined Occidental in 2004 and has held positions within the planning group in Qatar and the Corporate Planning and Analysis function in Los Angeles and Houston. Before becoming CFO, he served as Vice President, Strategic Planning, Analysis and Business Development, where he directed the company's planning and global business development functions. Prior to joining Occidental, he worked for Schlumberger in the Middle East and Asia.

Richard A. Jackson Senior Vice President and Chief Operating Officer

Richard A. Jackson was promoted to Senior Vice President and Chief Operating Officer of Occidental Petroleum on October 1, 2025. In this role, he oversees global oil and gas operations, low-carbon integrated technologies, and the midstream and marketing functions, as well as health, safety, and environment. Mr. Jackson has been an employee of Occidental since 2003 and has over 25 years of experience in the oil and gas industry. He previously served as Senior Vice President and President, U.S. Onshore Resources and Carbon Management, Operations, since 2020. His prior roles include President and General Manager of the Permian Delaware Basin and EOR, Vice President of Investor Relations, and Vice President of Drilling Americas. He has also been a leader in Oxy Low Carbon Ventures since its inception, advancing technologies such as Direct Air Capture and lithium extraction.

Robert L. Peterson Executive Vice President, Essential Chemistry

Robert L. Peterson was appointed Executive Vice President, Essential Chemistry, of Occidental Chemical Corporation (OxyChem), a subsidiary of Occidental, on August 9, 2023. In this role, he has executive oversight for OxyChem and operational readiness for Occidental Petroleum Corporation's Direct Air Capture (DAC) facilities, including Stratos, and other Occidental Low Carbon Ventures projects. He holds a Bachelor's degree in Mechanical Engineering and a Master of Business Administration in Corporate Finance from the University of Florida.

Kenneth Dillon Senior Vice President and President, International Oil and Gas Operations

Kenneth Dillon serves as Senior Vice President and President, International Oil and Gas Operations at Occidental Petroleum. Specific details about his background are not extensively provided in the search results, but his role indicates leadership in Occidental's international exploration and production activities.

The rapidly accelerating adoption curve and increasing cost-competitiveness of renewable energy sources (solar, wind) and related technologies (battery storage, electric vehicles). This trend directly threatens the long-term demand for Occidental Petroleum's core products (crude oil, natural gas) by offering increasingly viable, cleaner alternatives for power generation, transportation, and industrial processes.

Occidental Petroleum (OXY) operates in three primary business segments: Oil and Gas Exploration and Production, Chemical Manufacturing (OxyChem), and Midstream and Marketing. The company is also significantly involved in Carbon Capture, Utilization, and Storage (CCUS) initiatives.

Addressable Market Sizes for Occidental Petroleum's Main Products and Services:

• Oil and Gas (Crude Oil, Natural Gas, Natural Gas Liquids): The global oil and gas market was valued at approximately USD 7.97 trillion in 2024 and is projected to reach USD 8.33 trillion in 2025.
• Chemicals (Basic Chemicals, Vinyls, Specialty Chemicals): The global chemical industry size was valued at USD 6,182 billion in 2024 and is projected to reach USD 6,324 billion by 2025.
• Carbon Capture, Utilization, and Storage (CCUS): The global Carbon Capture, Utilization, and Storage market size was valued at USD 4.1 billion in 2024 and is expected to reach USD 5.1 billion in 2025. North America is a dominant region in the CCUS market.

Occidental Petroleum (OXY) is anticipated to drive future revenue growth over the next 2-3 years through several key initiatives and market factors:

• Optimized Oil and Gas Production: Occidental aims to maintain and enhance its oil and gas production, particularly through operational efficiencies in its U.S. onshore assets, such as the Permian Basin, and through international outperformance. The company has a track record of improving well performance and profitability, with ongoing efforts to optimize acreage and utilize advanced drilling technology to reduce development costs and unlock opportunities.
• Growth in Chemical and Midstream Segments: The company's integrated portfolio positions it for growth across its OxyChem and Midstream segments. Occidental projects a significant cash flow inflection from its non-oil and gas businesses, with approximately $1 billion in incremental free cash flow expected by 2026 from increased EBITDA and capital roll-off in these areas, along with corporate cost improvement initiatives.
• Advancement of Carbon Capture and Storage (CCS) Projects: Occidental is aggressively pursuing its carbon capture and storage (CCS) initiatives, with the STRATOS direct air capture (DAC) project setting the foundation for long-term, contracted revenue in carbon markets. The majority of STRATOS carbon removal volumes through 2030 are already contracted, indicating strong demand and a new revenue stream diversifying beyond traditional oil and gas.
• Favorable Commodity Prices: While subject to volatility, rising oil and gas prices remain a crucial factor for Occidental's revenue growth. The company is well-positioned to benefit from upward trends in crude oil prices due to its relatively low production costs.

Share Repurchases

• Occidental Petroleum had a $3.0 billion share repurchase program authorized in February 2023.
• The company repurchased approximately $3.099 billion in 2022 and $1.798 billion in 2023.
• As of December 31, 2024, $1.2 billion remained of the $3.0 billion share repurchase program. Following the announced sale of OxyChem to Berkshire Hathaway in October 2025, share repurchases are expected to accelerate.

Share Issuance

• In April 2025, Occidental issued 41.9 million shares of common stock, generating approximately $890 million, with proceeds used to repay near-term debt maturities.
• On July 28, 2025, the company announced a follow-on equity offering of 31,990,880 common shares priced at US$22 per share, totaling around $703.8 million.
• The Board adopted an Amended Long-Term Incentive Plan (LTIP) on February 12, 2025, subject to shareholder approval, which would increase the number of shares authorized for issuance under the LTIP by 55,000,000 shares for equity-based compensation.

Inbound Investments

• Warren Buffett's Berkshire Hathaway has steadily increased its stake in Occidental Petroleum since 2019, holding approximately 28.2% of OXY's outstanding shares, valued at $11 billion, as of August 18, 2025.
• BlackRock committed $550 million to the Stratos direct air capture (DAC) project, covering approximately 40% of the $1.3 billion project cost.
• The U.S. Department of Energy provided up to $650 million in funding for the Stratos DAC project. ADNOC's investment firm, XRG, is also evaluating a potential joint venture for a DAC facility in South Texas, considering an investment of up to $500 million.

Outbound Investments

• Occidental acquired Carbon Engineering in 2023 for approximately $1.1 billion to secure advanced direct air capture (DAC) technology. It further acquired Holocene in 2025 to enhance its DAC capabilities.
• In 2024, Occidental acquired CrownRock for approximately $12 billion, which added 170 thousand barrels of oil equivalent per day to its production and 94,000 acres in the Midland Basin.
• The company pledged $3 billion to modernize Sonatrach's gas production and export infrastructure in Algeria, with a focus on expanding LNG capacity and advancing carbon capture.

Capital Expenditures

• Occidental's annual capital expenditures were $4.497 billion in 2022, $6.27 billion in 2023, and $7.018 billion in 2024.
• For 2025, net capital expenditures are forecasted to be between $7.2 billion and $7.4 billion, initially guided higher but then reduced due to operational efficiencies.
• The primary focus of capital expenditures for 2025 is on high-return, short-cycle assets within oil and gas operations, particularly in the U.S. onshore portfolio (75% to Permian Basin), and low-carbon ventures including the Stratos direct air capture project.