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Business Information Project-FA13 MGMT 301
Mazeratti Mitchell, Occidental Petroleum, Rank (125)
Company Overview:
PSU Database Resources
Hoover’s:
Occidental Petroleum deals in the realm of oil and gas exploration and production and also
makes basic chemicals, petrochemicals, and plastics. Ranking in at #125 in the Fortune 1000, Oxy
is a force in its industry, reporting proved reserves of 3.2 billion barrels of oil 2012. Occidental
Petroleum was founded in 1920. It did not flourish until 1956, when Dr. Armand Hammer, a
billionaire industrialist invested $100,000 into the company which was only worth $34,000 at the
time. Two wells were drilled and they were both turned out successful. In 1959 Occidental
discovered California’s second largest gas field and later, in 1966, a billion barrel field in Libya.
Occidental Petroleum is a public company. Its ticker symbol is OXY and its stock is sold in
the New York Stock Exchange. The current President of the company is Stephen Chazen, and as of
2012, Occidental reported having 12,300 employees. Competing in the Oil and Gas Exploration and
Production Industry, Occidental faces its top 3 competitors: DuPont, Exon Mobil, and Royal Dutch
Shell.
