Occidental Petroleum Corp

Occidental Petroleum Corporation is an international energy company with diversified assets primarily in the United States, the Middle East, and North Africa. The company is among the largest oil and gas producers in the U.S., with leading positions in the Permian and DJ Basins and offshore Gulf of America. It is also the largest independent oil producer in Oman. Occidental's midstream and marketing segment manages the flow and optimizes the value of its oil and gas operations. Within this segment, Oxy Low Carbon Ventures, a subsidiary, develops decarbonization technologies and solutions, including direct air capture, carbon sequestration, and lithium development. In October 2025, Occidental announced an agreement to sell all equity interests in OxyChem to Berkshire Hathaway for $9.7 billion in an all-cash transaction, subject to post-closing adjustments. This sale was completed on January 2, 2026, resulting in an estimated gain of $3.2 billion, net of taxes, subject to post-closing adjustments. As a result, OxyChem's results are reported as discontinued operations in the consolidated statements of operations for all periods presented, and its assets and liabilities are reclassified as held for sale in the consolidated balance sheet. Prior to this, the chemical business was a reportable segment.