Occidental Petroleum
Sector unknown·OXY · USA (SEC 10-K)·Fiscal year to 31/12/2025
The Company ranks among the largest oil and gas producers in the U.S., holding leading positions in the Permian and DJ Basins as well as offshore Gulf of America, and is the largest independent oil producer in Oman.
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Oil
Raw materials and inputs
DriverMixed impact: mixed
“Volatile global and local commodity pricing strongly affects the Company’s results of operations. The Company’s financial results correlate closely to the prices it obtains for its products, particularly oil and, to a lesser extent, NGL and natural gas.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“With the completion of the OxyChem Transaction, the Company’s business is more exposed to fluctuations in the markets for oil, NGL and natural gas.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Oil and gas reservoirs are characterized by declining production rates. Unless the Company conducts successful exploration or development activities, acquires properties containing proved reserves, or both, proved reserves will generally decline and negatively impact the Company’s revenue.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“The Company’s production from CO2 EOR operations may decline if it is unable to obtain sufficient amounts of CO2. CO2 EOR operations are critical to the Company’s long-term strategy.”
Annual report 2025A · The company itself
DriverMixed impact: mixed
“Marketing performance is affected primarily by commodity price changes and margins in oil and gas transportation and storage programs. The marketing business results can experience significant volatility depending on commodity prices and the Midland-to-Gulf-Coast oil spreads and Waha-to-Gulf-Coast gas spreads.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Prices for oil, NGL and natural gas fluctuate widely. Historically, the markets for oil, NGL and natural gas and refined products have been volatile and may continue to be volatile in the future.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“CAPITAL INVESTMENT In 2025, the Company invested $5.6 billion in high-return oil and gas assets to generate long-term free cash flow throughout the commodity cycle.”
Annual report 2025A · The company itself
Market
“The Company ranks among the largest oil and gas producers in the U.S., holding leading positions in the Permian and DJ Basins as well as offshore Gulf of America, and is the largest independent oil producer in Oman.”
Annual report 2025A · The company itself
Market
“STRATEGY The Company is focused on delivering a unique shareholder value proposition with its portfolio of oil and gas and midstream and marketing assets, as well as its ongoing development of carbon management and storage solutions and GHG emissions reduction efforts.”
Annual report 2025A · The company itself
Market
“BUSINESS REVIEW MARKETING The marketing group markets substantially all of the Company’s oil, NGL and natural gas production and optimizes its transportation and storage capacity.”
Annual report 2025A · The company itself
Market
“COMPETITION The Company produces oil, NGL and natural gas in both domestic and international markets, competing with public, private, and state-owned producers. Market conditions significantly influence hydrocarbon pricing and demand.”
Annual report 2025A · The company itself
Chains out: this strengthens Plastics and polymers
Natural gas
Raw materials and inputs
DriverNegative impact: weakens
“With the completion of the OxyChem Transaction, the Company’s business is more exposed to fluctuations in the markets for oil, NGL and natural gas.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“The Waha-to-Gulf-Coast gas spreads have increased to an average of $2.21 per MMbtu in 2025 from an average of $1.49 per MMbtu in 2024.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Prices for oil, NGL and natural gas fluctuate widely. Historically, the markets for oil, NGL and natural gas and refined products have been volatile and may continue to be volatile in the future.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“CAPITAL INVESTMENT In 2025, the Company invested $5.6 billion in high-return oil and gas assets to generate long-term free cash flow throughout the commodity cycle.”
Annual report 2025A · The company itself
Market
“The Company ranks among the largest oil and gas producers in the U.S., holding leading positions in the Permian and DJ Basins as well as offshore Gulf of America, and is the largest independent oil producer in Oman.”
Annual report 2025A · The company itself
Market
“STRATEGY The Company is focused on delivering a unique shareholder value proposition with its portfolio of oil and gas and midstream and marketing assets, as well as its ongoing development of carbon management and storage solutions and GHG emissions reduction efforts.”
Annual report 2025A · The company itself
Market
“BUSINESS REVIEW MARKETING The marketing group markets substantially all of the Company’s oil, NGL and natural gas production and optimizes its transportation and storage capacity.”
Annual report 2025A · The company itself
Market
“PIPELINE The Company’s pipeline business mainly consists of its 24.5% ownership interest in DEL. DEL owns and operates a 230-mile-long, 48-inch-diameter natural gas pipeline, known as the Dolphin Pipeline, which transports dry natural gas from Qatar to the UAE and Oman.”
Annual report 2025A · The company itself
Market
“GAS PROCESSING, GATHERING AND CO2 The Company processes its own and third-party domestic wet gas to extract NGL and other gas byproducts, including CO2, and delivers dry gas to pipelines.”
Annual report 2025A · The company itself
Artificial intelligence
Technology
DriverNegative impact: weakens
“The Company also faces increased risk with the growing sophistication of artificial intelligence capabilities, which may improve or expand the existing capabilities of cyber threat actors.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“OLCV primarily focuses on advancing carbon removal and CCUS projects, including developing and commercializing DAC technology and supporting the Company’s EOR operations. STRATOS, the Company’s first large-scale DAC facility, is designed to capture up to 500,000 tons of CO2 per annum once complete.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“Certain of the Company’s strategic goals depend on the successful implementation of new and existing technologies on a commercial scale, including the deployment of DAC technology, start-up operations at STRATOS and the development of proposed CCUS projects. These technologies are in various stages of development or implementation and may require more capital, or take longer to develop, than currently expected.”
Annual report 2025A · The company itself
Chains out: this strengthens Data centres, strengthens Semiconductors and electronic components, strengthens Semiconductor industry
Shipping and logistics
End markets
Market
“MIDSTREAM AND MARKETING OPERATIONS GENERAL The Company’s midstream and marketing operations primarily support and enhance its oil and gas business. The midstream and marketing segment evaluates opportunities across the value chain to provide services to Occidental’s subsidiaries as well as third parties by optimizing the use of its gathering, processing, transportation, storage and terminal commitments and to provide access to domestic and international markets.”
Annual report 2025A · The company itself
Market
“STRATEGY The Company is focused on delivering a unique shareholder value proposition with its portfolio of oil and gas and midstream and marketing assets, as well as its ongoing development of carbon management and storage solutions and GHG emissions reduction efforts.”
Annual report 2025A · The company itself
Chains in: Carbon tax and ETS prices weakens, Global trade volumes strengthens, Fuel strengthens
Carbon tax and ETS prices
Regulation
Market
“STRATEGY The Company is focused on delivering a unique shareholder value proposition with its portfolio of oil and gas and midstream and marketing assets, as well as its ongoing development of carbon management and storage solutions and GHG emissions reduction efforts.”
Annual report 2025A · The company itself
Chains out: this weakens Shipping and logistics, strengthens Energy efficiency, weakens Cement and building materials
Chemicals and specialty chemicals
Raw materials and inputs
StrategyPositive impact: strengthens
“OXYCHEM TRANSACTION In October 2025, the Company announced entry into a purchase and sale agreement with Berkshire Hathaway to sell all of the issued and outstanding equity interests in OxyChem in an all-cash transaction for $9.7 billion. The sale was completed on January 2, 2026, resulting in an estimated gain of $3.2 billion, net of taxes and subject to post-closing adjustments.”
Annual report 2025A · The company itself
Equity and capital markets
Macro
StrategyPositive impact: strengthens
“In order to maximize shareholder returns, the Company will: ■ Maintain production base to preserve asset base integrity and longevity; ■Deliver a sustainable and growing dividend; ■Prioritize excess cash flow and proceeds from divestitures, including the OxyChem Transaction, for deleveraging until principal debt is approximately $14.3 billion, after which available cash will be allocated to opportunistic share repurchases and/or further net debt reduction; ■Enhance its asset base with investments in its cash-generative oil and gas business; and ■Advance integrated technologies in CO2, power and midstream to enable differentiated resource recovery and value.”
Annual report 2025A · The company itself
Interest rates
Macro
StrategyPositive impact: strengthens
“DEBT In 2025, the Company used proceeds from divestitures and cash on hand to repay approximately $4.0 billion of debt. Subsequent to December 31, 2025, but before the date of this filing, the Company used proceeds from the OxyChem Transaction to pay or satisfy and discharge an additional $5.4 billion of debt.”
Annual report 2025A · The company itself
Chains in: Public debt and fiscal policy strengthens, Inflation strengthens
Chains out: this weakens Construction, weakens Real estate, weakens Wind power, weakens Housing market, weakens Office and commercial property, weakens Residential rental, weakens Residential construction
M&A and consolidation
Macro
StrategyPositive impact: strengthens
“Average daily production volumes increased by 8% in 2025, compared to 2024. The increase in production was primarily driven by a full year of production in 2025 related to the CrownRock Acquisition, which closed in August 2024.”
Annual report 2025A · The company itself
Climate change and extreme weather
Macro
DriverNegative impact: weakens
“The Company’s operations, both onshore and offshore, face risks and hazards inherent to operating in the energy industry. These include well blowouts, fires, explosions, pipeline ruptures, spills, emissions or releases of regulated materials into the soil, surface water, ground water or the marine environment, material or mechanical failures, power outages, industrial accidents, abnormally pressured or structured formations, severe weather events (such as hurricanes, floods, freezes, heat waves or droughts), land deformations (such as earthquakes, landslides or subsidence), other acts of nature, pandemics, physical or cyber-attacks, terrorist attacks, piracy and other events that cause operations to be curtailed or cease.”
Annual report 2025A · The company itself
Chains out: this weakens Agriculture and food production
Cyber attacks and IT security risk
Macro
DriverNegative impact: weakens
“Despite robust cybersecurity measures, the Company has experienced cyber-attacks in the past and expects such threats to continue to evolve, including increasing in magnitude and sophistication.”
Annual report 2025A · The company itself
Chains out: this strengthens Cybersecurity (products and services)
EU climate and energy policy
Regulation
DriverNegative impact: weakens
“table of contents RISK FACTORS The Company’s carbon management and sustainability initiatives and strategic objectives involve significant risks and uncertainties. The Company’s aspirations, goals, initiatives and investments related to carbon management, DAC and sustainability, and the execution of its broader business strategies, expose it to significant financial, operational, regulatory, technological, legal, market, reputational and other risks.”
Annual report 2025A · The company itself
Chains out: this strengthens Circular economy and recycling, strengthens Energy efficiency
Water
Raw materials and inputs
InputNegative impact: weakens
“The Company’s operations could be adversely affected if it is unable to source water or sand or dispose of surplus fluids. Water and sand are essential inputs for the exploration and production of oil and gas.”
Annual report 2025A · The company itself
Inflation
Macro
DriverNegative impact: weakens
“The Company’s costs are influenced by inflationary trends, market conditions, the availability and cost of oilfield services, electricity, and CO₂, and other operational expenditures.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“These include evolving market conditions (such as demand for carbon sequestration and related CO2 removal credits, allowances or other attributes), supply chain constraints or delays (such as with respect to raw materials, equipment and electrical infrastructure), changes in the Company’s portfolio and the availability of grants, loans or tax deductions, incentives or credits (including, as applicable, the transferability thereof).”
Annual report 2025A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
Electricity
Raw materials and inputs
InputNegative impact: weakens
“Average lease operating expense per Boe Average lease operating expense per Boe decreased in 2025, compared to 2024, primarily due to operational efficiencies in the Permian Basin and lower energy costs in Oman.”
Annual report 2025A · The company itself
Chains in: Data centres strengthens, Electrification strengthens
Chains out: this strengthens Power grid expansion
Pandemics and outbreaks
Macro
DriverNegative impact: weakens
“These include well blowouts, fires, explosions, pipeline ruptures, spills, emissions or releases of regulated materials into the soil, surface water, ground water or the marine environment, material or mechanical failures, power outages, industrial accidents, abnormally pressured or structured formations, severe weather events (such as hurricanes, floods, freezes, heat waves or droughts), land deformations (such as earthquakes, landslides or subsidence), other acts of nature, pandemics, physical or cyber-attacks, terrorist attacks, piracy and other events that cause operations to be curtailed or cease.”
Annual report 2025A · The company itself
Chains out: this weakens Aviation and travel, strengthens Vaccines (travel health and preparedness)
United States
Geography
Geography
“The Company ranks among the largest oil and gas producers in the U.S., holding leading positions in the Permian and DJ Basins as well as offshore Gulf of America, and is the largest independent oil producer in Oman.”
Annual report 2025A · The company itself
Geography
“GENERAL The Company is an international energy company recognized for its premier diversified assets, primarily situated in the United States, the Middle East and North Africa.”
Annual report 2025A · The company itself
Geography
“Within the United States, the Company has operations primarily in Texas, New Mexico and Colorado, as well as offshore in the Gulf of America.”
Annual report 2025A · The company itself
Geography
“Production The following table sets forth the production volumes of oil, NGL and natural gas per day for each of the three years in the period ended December 31, 2025, and includes a year-over-year change calculation: Production per Day (Mboe/d) 2025 Year over Year Change 2024 Year over Year Change 2023 United States Permian Total 1,202 9 % 1,099 10 % 1,000 International Algeria & Other International — % 39 Oman 72 9 % 66 — % 66 Total 232 2 % 228 2 % 223 Total Production (Mboe/d) (a) 1,434 8 % 1,327 9 % 1,223 (a)Natural gas volumes have been converted to Boe based on energy content of six Mcf of gas to one barrel of oil.”
Annual report 2025A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Asia and emerging markets
Geography
Geography
“The Company’s international assets are primarily located in Algeria, Oman, Qatar and the UAE.”
Annual report 2025A · The company itself
Geography
“Proved oil, NGL and natural gas reserves were estimated using the unweighted arithmetic average of the first-day-of-the-month price for each month within the year, unless prices were defined by contractual arrangements.”
Annual report 2025A · The company itself
China
Geography
Geography
“Production The following table sets forth the production volumes of oil, NGL and natural gas per day for each of the three years in the period ended December 31, 2025, and includes a year-over-year change calculation: Production per Day (Mboe/d) 2025 Year over Year Change 2024 Year over Year Change 2023 United States Permian Total 1,202 9 % 1,099 10 % 1,000 International Algeria & Other International — % 39 Oman 72 9 % 66 — % 66 Total 232 2 % 228 2 % 223 Total Production (Mboe/d) (a) 1,434 8 % 1,327 9 % 1,223 (a)Natural gas volumes have been converted to Boe based on energy content of six Mcf of gas to one barrel of oil.”
Annual report 2025A · The company itself
Europe
Geography
Geography
“GENERAL The Company is an international energy company recognized for its premier diversified assets, primarily situated in the United States, the Middle East and North Africa.”
Annual report 2025A · The company itself
Nordics
Geography
Geography
“The Company ranks among the largest oil and gas producers in the U.S., holding leading positions in the Permian and DJ Basins as well as offshore Gulf of America, and is the largest independent oil producer in Oman.”
Annual report 2025A · The company itself
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 21.57 bn USD |
| Revenue growth vs. the year before, same method | -5 % |
| EBITDA reported by the company | N/A |
| Net debt debt incl. leasing minus cash | 20.38 bn USD |
| Diluted EPS per share | 1.61 USD |
Source: 10-K (SEC) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✗ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (USD), not converted to DKK. Quotes are shown as the company's own words in English.