COMPANY PROFILE -Occidental Petroleum Corporation
Business Sector :Oil and Natural Gas
Operating Geography :United States, North America, Global
About Occidental Petroleum Corporation :
Occidental Petroleum Corporation is an American oil and gas exploration and petrochemical manufacturing business with operations in the United States, the Middle East, and Colombia. It was founded in Delaware and has its headquarters in Houston. Occidental's success dates back to 1920, and it is based on advanced technologies, business acumen, excellent alliances, and a track record of delivering long-term outcomes. The company's three segments are oil and gas, chemicals, midstream, and marketing. Oil and gas, natural gas liquids, and natural gas are all explored, developed, and produced by the Oil and Gas division. Basic chemicals and types of vinyl are manufactured and sold by the Chemical sector. The company's midstream and marketing business ensure the flow of its oil and gas while also maximising its value. OxyChem, the company's chemical subsidiary develops the components for life-enhancing goods. Oxy Low Carbon Ventures, another subsidiary of the company, develops cutting-edge technologies and business solutions that help it grow while lowering emissions. On June 10, 2021, the business announced that it will sell non-strategic acreage in the Permian Basin to an associate of Colgate Energy Partners III, LLC under a definitive agreement.
Occidental Petroleum's Unique Selling Point or USP lies in it being one of the largest oil producers in the United States, with a strong presence in the Permian and DJ basins, as well as offshore in the Gulf of Mexico. The mission statement of Occidental Petroleum reads, "To develop energy resources safely, profitably and responsibly to maximize value".
Occidental Petroleum Corporation Revenue :
US$ 17,809 million - FY ending 31st Dec 2020 (y-o-y growth -14.8%)
US$ 20,911 million - FY ending 31st Dec 2019
Competitive Analysis of Occidental Petroleum Corporation
The SWOT analysis for Occidental Petroleum is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. One of the largest US oil producers with leading positions in the Permian and DJ basins
2. Oxy’s combined integrated portfolio
3. First US oil company to endorse World Bank’s “Zero Flaring by 2030” initiative
4. Among the top 3 producers of PVC, chlorine, and caustic soda
5. Good workplace safety performance | 1. Poor debt credit ratings from Moody’s, Fitch, and S&P
2. Poor stock performance compared to its peers |
| Opportunities | Threats |
1. Expansion of Oxy Low Carbon venture
2. Meeting GHG emission reduction targets
3. Focus on developing cost-reducing and innovative technology | 1. Reduction in energy demand due to COVID-19
2. Dramatic fluctuations in natural gas liquids (NGL) prices
3. Business highly sensitive to OPEC’s decisions |
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Detailed SWOT Analysis of Occidental Petroleum Corporation
Strength
1. One of the largest US oil producers with leading positions in the Permian and DJ basins: Occidental is an international oil and gas company operating in the US, Middle East, Latin America and Africa. Occidental is the leading producer of oil in the Permian basin and the DJ basin and one of the largest oil producers of America overall. The Permian basin extends from Texas to New Mexico and it is one of the largest oil basins in the US. Occidental undertakes CO2 flooding in the Permian basin to increase oil output by 10 to 25%. In 2020, Occidental spent around $1.1 billion in the Permian operations and in 2021 they expect to spend around 38% of their worldwide capital budget to the Permian. The DJ basin is in Colorado, and it is a strategic oil basin because it provides low breakeven costs and high free cash flow generation for Occidental. In 2020, Occidental produced around 293 Mboe/d of oil from the DJ basin.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
1. Reduction in energy demand due to COVID-19: COVID-19 and other recent economic developments arising from the pandemic and the consequent government actions have led to reduction in global demand for oil and energy. Oil companies like Occidental Petroleum also saw production delays due to transport bans, supply chain disruptions, etc. the economic downturn associated with the pandemic is expected to last long and have a negative impact on the oil industry in the near future. The IEA (International Energy Authority) predicts that most of the demand growth for oil will come from the non OCED countries, and Asian nations will lead the demand for oil. US oil demands are expected to fall. On the supply side, climate pressures and the policies arising from it are expected to languish oil production. Moreover, lack of cheap capital may also lead to high cost of production.
The remaining section under "Threat" is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Occidental Petroleum is presented below in a table followed by the detailed analysis report.
| Political | Economical |
1. Policymakers are pushing for shift to clean energy
2. Asia dominates growth in oil demand
3. LIBOR will no longer be used by the end of 2021 | 1. Need for expansionary fiscal policy to stimulate consumption
2. Oil price volatility during COVID-19
3. Indebtedness making Occidental more vulnerable to economic downturns |
| Social | Technological |
1. Rise in environmental awareness and demand for clean energy
2. Falling demand for jobs in the oil industry | 1. DAC technology captures CO2 directly from the atmosphere |
| Legal | Environmental |
1. Impact of adoption of new regulations for drilling operations
2. BOEM and BSEE’s stringent new safety requirements | 1. Aims to achieve net-zero emissions by 2040 |
Occidental Petroleum Corporation SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Occidental Petroleum Corporation
Political
1. Policymakers are pushing for shift to clean energy: Newly elected US President, Biden, recently chaired the Climate Summit 2021 to coincide with Earth Day. Over 40 national leaders were invited, and discussions were held regarding cutting down greenhouse gas emissions to reach UN targets ahead of the COP26 meeting to be held in Glasgow later this year. The summit also showed the world that the US was once again keen to rejoin global efforts to increase sustainability. US committed to cut down its greenhouse gas emissions by 50% by 2030 and UK promised a 78% cut in emissions by 2035 compared to its 1995 levels. Japan and Canada also committed to trim emissions by 46% and 40-45% respectively. EU promised to slump emissions by 55% below 1990 levels by 2030. China promised to reduce coal consumption and South Korea agreed to stop the public financing of coal-powered plants. The oil and gas sector is going to be hard-hit from these policy changes and the demand for oil may slide even more in the future.
The remaining section under "Political" is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Brands :
- Anadarko Petroleum
- Oxy Chemical Group
- Western Midstream
- Glenn Spring Holdings Inc.
- Occidental Permian Ltd
- Oxy Carbon Low Ventures
- Occidental Chemical Corporation
Occidental Petroleum Corporation SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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References used in Occidental Petroleum Corporation SWOT & PESTLE Analysis Report
1. Our Businesses - https://www.oxy.com/OurBusinesses/Pages/default.aspx
2. 2020 Annual Report - https://www.oxy.com/investors/Reports/Documents/2020%20Annual%20Report.pdf
3. Second Quarter Earnings Conference Call Occidental Petroleum Corporation August 4, 2021 - https://www.oxy.com/investors/Documents/Earnings/OXY2Q21ConferenceCallSlides.pdf
4. Ase Studies Index - https://www.oxy.com/Sustainability/overview/Pages/Case-Studies-Index.aspx
5. Oil markets face uncertain future after rebound from historic Covid-19 shock - News – IEA - https://www.iea.org/news/oil-markets-face-uncertain-future-after-rebound-from-historic-covid-19-shock
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