subsidiary. …of their claims against the Occidental Chemical Corporation, which had taken over Hooker in the late 1960s, and the city of Niagara Falls.…. In addition, Mr. Chiang will assume responsibility for Occidentalâs Chemical operations (OxyChem) and Government Affairs. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. ", "Occidental stockholders want say on pay every year", "Unipar anuncia compra do restante da Carbocloro por R$550 mi", "Occidental Petroleum splintering and moving its headquarters to Houston", "Occidental Petroleum to move headquarters to Houston, spin off California assets", "Plains All American Pipeline, L.P. Enters into Agreement to Acquire 50% Interest in BridgeTex Pipeline Company from Occidental Petroleum Corporation", "Occidental Petroleum to sell BridgeTex interest to Plains for $1B", "Occidental Petroleum completes California spin-off", "Occidental Petroleum Announces Regular Quarterly Dividend", "$500 million oil recovery project wraps up first phase in Hobbs", "Occidental Tower sells for about $95M to joint venture", "Occidental Names Hollub First Woman CEO of Big U.S. Oil Firm", "OxyChem, Mexichem commission Texas ethylene complex", "Oxy makes two $600M deals to sell, buy Permian assets", "The biggest ever mergers and acquisitions in the oil and gas industry", "Occidental to continue funding growth opportunities in Oman", "Oxy to 'stay very diligent' in Qatar and Mideast", "Occidental Petroleum wins major oil deal with Libya", "Oil Companies That Gave 'Bonuses' to Libya Also Lobbied Against Disclosure Rules", "Internal Report Shows Even Before War, Libya's SWF Was in Chaos", "UK Prosecutors Team Up With SEC to Investigate Bribery Among SWFs", "Just 100 companies responsible for 71% of global emissions, study says", "Occidental Petroleum Wants to Be 'Part of the Solution' on Climate Change", "Once barren Copper Basin reaches major milestone in restoration effort [photos]", "Department of Justice and EPA Announce $50 Million Settlement to Clean Up Contamination at Eastern Tennessee Superfund Site", "Superfund Site: LOVE CANAL, NIAGARA FALLS, NY", "Occidental to pay $129 Million in Love Canal Settlement", "CSB Issues Final Report on Oleum Release from INDSPEC Chemical Corp. that Forced Thousands to Evacuate in October 2008; Report Cites Use of Pump Power Supply that Lacked Safeguards", U.S. Chemical Safety and Hazard Investigation Board, "Oil Giant vs. In 1952, the site was filled to capacity and closed off. The company produced 355 thousand barrels of oil equivalent (2,170,000 GJ) per day from unconventional oil directional drilling via Permian Resources and 154 thousand barrels of oil equivalent (940,000 GJ) per day using a technique called enhanced oil recovery, whereby carbon dioxide and water are injected into underground formations to extract the oil and gas. Vicki A. Hollub â President, Occidental Oil and Gas â Americas. Support, with responsibility for the Human Resources, Information Occidental strengthens local economies, applying a proven business model that encourages communities in our operating locations to develop and thrive. leadership for the company’s California Resources Corporation (CRC) company, Mr. Lowe has held senior leadership roles including Executive In 2017, the company was ranked 55th on the Carbon Majors Report, a list of the Top 100 producers and their cumulative greenhouse gas emissions from 1988-2015. To help replenish its oil and natural gas reserves, Occidental expanded into the North Sea, where it made a major oil discovery in 1973; acquired Cities Service Company in 1982 (though it sold off all of that company’s refining and marketing operations the next year); and acquired in 1986 the Midcon Corporation, which had one of the largest natural gas pipelines in the United States.  The court agreed with a trial in the United States, overturning the decision of the lower courts, and, in 2013, the United States Supreme Court refused to hear the company's appeal. HES is a cornerstone of Occidental's operations and an essential element in meeting Occidental's goals as an employer, neighbor and partner of choice. positions in the U.S., Latin America and Middle East — most recently In her new role she will also oversee the Latin America operations as well as Worldwide Exploration. Occidental Petroleum Corp. is an international oil and gas exploration and production company. and Development, adding Business Development and Land activities to her This subsequently became a national news story, and in 1980, president Jimmy Carter declared a federal emergency in the area. , International Center for Settlement of Investment Disputes, Dodd–Frank Wall Street Reform and Consumer Protection Act, United States Court of Appeals for the Ninth Circuit, List of oil exploration and production companies, "Occidental Petroleum Corporation 2019 Form 10-K Annual Report", "Railroad Commission of Texas, Largest Gas Producers, thru December 2018", "Deal-maker Armand Hammer Moscow's capitalist comrade", "Out-of-Court Settlement Reached Over Love Canal", "Stock Photo - The remains of the Occidental Petroleum Jetty on Canvey Island in Essex", United States Environmental Protection Agency, "Occidental Will Sell Its Stake in Iowa Beef Unit", "Oxy Buys Cain Chemical; Deal Valued at $2 Billion", "Workers Cheer Cain's Sale, And the $100,000 Windfalls", "Armand Hammer Dies at 92; Industrialist and Philanthropist Forged Soviet Links", "Ray Irani Officially Named Oxy Chairman", "OCCIDENTAL PETROLEUM SHEDS ITS LAST COAL COMPANY", "Occidental Petroleum Sells State In Oilfields To Congo", "Occidental's $3.7-Billion Bid Buys Elk Hills Field", "Occidental not planning to divest assets in Oman, Abu Dhabi and Qatar: Occidental chief", "Occidental Agrees to Acquire Vintage Petroleum", "Oxy Agrees to Acquire Vintage Petroleum", "Ecuador Cancels an Oil Deal With Occidental Petroleum", "Occidental Petroleum takes $306M charge on Ecuador operations", "Ecuador to pay $980 million to Occidental for asset seizure", "Occidental CEO's 2006 paycheck: $460 million", "Occidental Petroleum to invest in Plains All American", "Occidental Petroleum Announces Acquisition of Phibro", "Exclusive: Oil legend Andy Hall suffers first loss since 1990s", "Former Wall Street banker buys Phibro from Occidental Petroleum: FT", "Exclusive: Oxy to exit North Dakota's oil fields in sale to private equity fund", "Occidental Adds to Its U.S. Oil Properties", "China's Sinopec buys Occidental's Argentina assets", "Occidental wins Abu Dhabi Shah gas project: sources", "UAE's Shah gas project now seen online early 2015-ADNOC", "Occidental's Irani to retire as CEO in 2011: report", "Occidental Petroleum Chairman Ray Irani ousted at annual meeting", "Is Occidental's Irani Worth His Big Pay Check? By the mid-1960s, under Hammer’s management, Occidental’s gross annual income was more than… Occidental Petroleum Announces New Executive Management Responsibilities, "Each of these individuals has made significant contributions to the company", Vice President, Communications and Public Affairs. Hollub has been Executive Vice President of U.S. Operations, Occidental Oil and Gas, with responsibility for domestic production, asset growth and drilling. From 1992 to 2001, the company tried to drill for oil in the territory of the U'wa people, in northeast Colombia. Since joining Occidental in 1981, she has held a variety of technical and leadership positions, including Executive Vice President of California Operations and President and General Manager of Oxy Permian. Occidental Petroleum CorporationMedia:Melissa E. Schoeb713firstname.lastname@example.orgInvestors:Chris Stavros212email@example.comOn the web: www.oxy.com.  In Qatar, the company is the second-largest oil producer offshore and is a partial owner in the Dolphin Gas Project, which delivers gas to Oman and the United Arab Emirates. OxyChem has manufacturing facilities in the United States, Canada and Chile. Rank-and-file workers received a bump in wages as of July 1, Occidental executives’ annual salary cap doubled to $500,000. “Each of these individuals has made significant contributions to the Let us know if you have suggestions to improve this article (requires login). There also were tribal beliefs that oil is the "blood of the earth" and should not be removed. As CFO, Stavros will lead the Controller, Treasury and Tax functions as well as Investor Relations and Communications and Public Affairs. In 1998 the company bought huge natural gas deposits in the Elk Hills Field of southern California (formerly part of the U.S. government’s Strategic Petroleum Reserve), and in 2000 it bought Altura Energy, Ltd., a company with reserves in the Permian Basin of Texas and New Mexico. Others buy agencies. Occidental is globally respected, financially sound and committed to generating future value for our stockholders. , by the near-bankrupt Occidental Petroleum Corporation. In 1957 Hammer bought a controlling interest in Occidental but quickly abandoned his tax shelter plan when its rigs struck a rich crude oil deposit in southern California. Learn more about Occidental by watching videos about our operations and reading our publications. But the pressure has eased somewhat with U.S. benchmark crude futures trading around $41 a barrel after turning negative in April. Hammer financed the wells, which unexpectedly struck oil, and he quickly increased his holdings in Occidental, becoming the firm’s chief executive officer and chairman of the board in 1957. Weâre looking for creative, energetic people who are passionate about their field and want to grow with one of the industryâs strongest performers. Before it's here, it's on the Bloomberg Terminal. (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. Communications and Public Affairs. , In Colombia, which accounted for 34 thousand barrels of oil equivalent (210,000 GJ) per day of production, or 3% of total production in 2019, the company operates the Caño Limón oilfield. Chris Stavros is appointed Executive Vice President and Chief Financial Officer (CFO). However, in order to dissuade the revolutionary Libyan government from nationalizing its oil production in the 1970s, Occidental offered concessions that severely limited its income from that country, and in 1986 the company ceased operations there altogether as relations between Libya and the United States deteriorated. In 1942, Hooker Chemical Company began disposing chemical waste at the site and, in 1947, it became the sole owner and user of the land. Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization. (Sandy) Lowe â President, Occidental Oil and Gas â International. operations. Longer Retirements, Rising Costs Put Pressure On Financial Decision-Making, Retirement Holdings Down Significantly? Worldwide Engineering, Corporate Reserves and the capital allocation , In 2019, the company's United States operations produced 714 thousand barrels of oil equivalent (4,370,000 GJ) per day, representing 69% of the company's worldwide production, including 509 thousand barrels of oil equivalent (3,110,000 GJ) per day in Permian Basin, where Occidental is the largest operator and oil producer. Occidental promotes high ethical standards, institutional integrity and effective corporate governance in every facet of our enterprise. Ms. Hollub has been Executive Vice President of U.S. Operations, , On March 3, 2010, EarthRights International argued to the United States Court of Appeals for the Ninth Circuit that the case should be litigated in Los Angeles, where the company was headquartered. International Drilling functions. Senator Albert Gore, Sr. and Gore was a member of the board of directors of the company. The growth of the company’s chemical interests marked Hammer’s decisive efforts to shift Occidental away from an exclusive reliance on energy ventures. Occidental has managed to raise $2 billion from selling bonds and is considering divesting assets in Africa and the Middle East worth about $4.5 billion to Indonesia’s PT Pertamina, people familiar with the matter said last month.
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