General presentation of Occidental Petroleum
We shall now pass on to a presentation of the Occidental Petroleum Corporation. It is in fact essential that you have a clear and full understanding of this company and its activity sector as well as its principal sources of revenue to be able to understand this company’s future challenges and possibilities for growth and expansion.
The Occidental Petroleum Corporation is an American group specialised in the oil and gas sector. More precisely, it is one of the leaders in the petroleum sector in the United States.
To better understand the activities of this group we can divide them into different sectors according to the turnover generated by each activity and how:
- Firstly, the exploration and production of crude oil and natural gas generates over 62% of this group’s turnover with 580,000 barrels of crude oil, 174,000 barrels of natural liquefied gas and 41.1 million m3 of natural gas produced every day in 2019.
- Then we find the hydrocarbons storage, transport and distribution activities which generate 19.1% of this group’s turnover.
- We then find the manufacturing of chemical products which generates the remainder of the group’s turnover representing 18.9% through basic chemical products such as chlorine, caustic soda, ethylene and other high performance chemical products such as PVC, pigments and plastics.
It can be equally advantageous to know the geographical distribution of this group’s revenue which currently generates 76.9% of its turnover in the United States, 18.5% in the Middle East, 4.3% in Latin America and 0.3% from other countries around the world.