Occidental Chemical Corporation
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| Public company | |
| Traded as | |
| Industry | Oil and gas industry |
| Founded | June 1920 |
| Headquarters | 5 Greenway Plaza, Suite 110 Houston, Texas, 77046 |
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Key people
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Vicki A. Hollub (CEO) |
| Products | Oil, natural gas, petrochemicals |
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Production output
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630 thousand barrels of oil equivalent (3,900,000 GJ) per day (2016) |
| Revenue |
 US$10.090 billion (2016) |
 -US$0.574 billion (2016) |
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-US$1.002 billion (2016) |
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| Total assets |
US$43.109 billion (2016) |
| Total equity |
US$21.497 billion (2016) |
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Number of employees
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11,100; 7,100 of which are in the United States (2015) |
| Website | www |
Occidental Petroleum Corporation (Oxy) is an American multinational oil and gas exploration and production company with operations in the United States, the Middle East, and Latin America. Headquartered in Houston, Texas, it is one of the largest American oil and gas companies based on 2015 year-end market capitalization. Often abbreviated as "Oxy", in reference to its ticker symbol, the company is ranked on the Forbes Global 2000 and Fortune 500 list. In 2015, it was the 16th largest gas producer and 3rd largest oil producer in Texas.
Occidental was founded in 1920 in California. In 1956 Occidental Petroleum came to the attention of Armand Hammer. At Hammer's first association with Occidental, the company was run by Dave Harris, Roy Roberts, and John Sullivan. In 1957, Dr. Armand Hammer was elected president and CEO. In 1961, the company discovered the Lathrop Gas Field in the Arbuckle area of the Sacramento basin at Lathrop. Over the next 10 years, Occidental expanded internationally with operations in Libya, Peru, Venezuela, Bolivia, Trinidad, and the United Kingdom. Occidental won exploration rights in Libya in 1965 and operated there until all activities were suspended in 1986 after the United States imposed economic sanctions on Libya.
Occidental entered the chemical business with the acquisition of Hooker Chemical Company in 1968, 26 years after the contamination at Love Canal. It added to its chemical industries portfolio in 1988 with the outright purchase for $2 billion of Cain Chemical. On July 6, 1988, an explosion and subsequent inferno on the Piper Alpha platform, operated by Occidental Petroleum (Caledonia) Ltd in the Scottish North Sea, resulted in 167 fatalities in what remains the world's most deadly offshore disaster.
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Wikipedia