Occidental Petroleum Corporati (OXY)

Occidental Petroleum Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company. The company has three segments: Oil and Gas; Chemical; and Midstream, Marketing, and Other. The Oil and Gas segment engages in the exploration, development, production, and marketing of crude oil, natural gas liquids, and condensate and natural gas in Texas, New Mexico, California, Kansas, Oklahoma, Utah, and Colorado, as well as in Argentina, Bolivia, Colombia, Libya, Oman, Qatar, the unite Arab Emirates, and Yemen. As of December 31, 2008, the company had proved reserves of approximately 2,978 million barrels of oil equivalent. The Chemical segment manufactures and markets basic chemicals, vinyls, and performance chemicals. The Midstream, Marketing, and Other Segment gathers, treats, processes, transports, stores, trades, and markets crude oil, natural gas, natural gas liquids, and condensate and carbon dioxide, as well as generates and markets power. In addition, the company involves in the calcium chloride business. The company was founded in 1920 and is based in Los Angels, California.

For the nine months ended 30 September 2006, Occidental Petroleum Corporation's revenues rose 21% to $13.75B. Net income from cont. ops fell 11% to $3.51B. Revenues reflect an increase in oil & gas revenues due to higher crude oil & natural gas prices and lower exploration expense. Net income was offset by an increase in selling, general & administrative expenses and higher net interest & debt expense.