Stock Taper
Occidental Petroleum Corporation explores, develops, and markets oil, gas, and chemicals globally through its Oil and Gas, Chemical, and Midstream segments, headquartered in Houston since 1920.

Occidental, via subsidiary 1PointFive, is developing Stratos, the world's largest Direct Air Capture plant to remove CO2, support climate goals, and produce 'net-zero oil' for a lower-carbon future.
Occidental Petroleum announced a definitive agreement to sell its chemical subsidiary, OxyChem, to Berkshire Hathaway for $9.7 billion in an all-cash transaction. This strategic divestiture is aimed at significantly reducing the company's debt, with plans to use $6.5 billion of the proceeds to lower its principal debt to below $15 billion. The move marks a pivotal shift for Occidental, allowing it to streamline its focus on its core oil and gas operations and its growing low-carbon ventures.
In a landmark strategic shift, Occidental Petroleum announced the sale of its chemical division, OxyChem, to Berkshire Hathaway. This decision refocuses the company on its core oil and gas operations, particularly in the Permian Basin, and accelerates its investments in low-carbon ventures, such as Direct Air Capture (DAC) technology.
Overall rating: B-
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