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Occidental Petroleum Corporation SWOT & PESTLE Analysis

ID : 521064053| Oct 2021| 18 pages

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

SWOT
PESTLE
The SWOT analysis for Occidental Petroleum is presented below in a matrix followed by the detailed analysis report:
StrengthsWeaknesses
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
OpportunitiesThreats
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
SWOT & PESTLE (combined)
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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.

Major Competitors :

Major Brands :

  • Anadarko Petroleum
  • Oxy Chemical Group
  • Western Midstream
  • Glenn Spring Holdings Inc.
  • Occidental Permian Ltd
  • Oxy Carbon Low Ventures
  • Occidental Chemical Corporation
SWOT & PESTLE (combined)
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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

The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Occidental Petroleum Corporation SWOT and PESTLE analysis has been conducted by Anangsha Saha and reviewed by senior analysts from Barakaat Consulting.

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