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BullsOil.com  U.S. Giants  >  Occidental
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Occidental Petroleum Corporation ("Oxy") NYSE: OXY is an international oil and gas exploration and production company with operations in the United States, the Middle East, North Africa, and South America. The company nickname “Oxy” began in 1964 in reference to Occidental’s NYSE stock ticker. Headquartered in Los Angeles, California, Oxy is the fourth largest U.S. oil and gas company, based on equity market capitalization. Oxy is the largest oil producer in Texas and the largest natural gas producer in California, with additional operations in Kansas, Oklahoma, Colorado and New Mexico.

Oxy's wholly-owned subsidiary, OxyChem, manufactures and markets chlor-alkali products and vinyls.

Oxy was founded in 1920. In 1957 Dr. Armand Hammer was elected president and CEO. In 1961, Oxy discovered California's second largest natural gas field in the Arbuckle area of the Sacramento basin at Lathrop. Over the next 10 years, Oxy expanded worldwide operations with efforts in Libya, Peru, Venezuela, Bolivia, Trinidad and the United Kingdom. Occidental won exploration rights in Libya in 1965 and achieved exploration and development success until all activities were suspended in 1986 as the result of economic sanctions imposed by the United States government. In 1968, Oxy entered the chemical business with the acquisition of Hooker Chemicals. This was 26 years after the contamination at Love Canal. On July 6, 1988 a fire on Piper Alpha, an oil platform in the North Sea, caused the biggest disaster in offshore oil industry's history. Today Occidental Chemical Corporation (OxyChem) is a leading chemical manufacturer with interests in basic chemicals, vinyls and performance chemical products. In 1994, Dr. Ray Irani became President and CEO of Oxy.

In 2005, Oxy was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush.
Type Public (NYSE: OXY)
Founded 1920
Headquarters Los Angeles, California
Key people Dr. Ray R. Irani, Chairman, President and CEO, industry = Oil and gas
Products Oil, Natural gas, Petrochemicals
Market Cap [$49.34 billion USD (2007)
Employees 8,886
Website www.oxy.com