Oxy
Oxy, officially known as Occidental Petroleum Corporation, is a leading American oil and gas exploration and production company headquartered in the United States. Founded in 1920, Oxy has established a strong presence in key operational regions, including the Permian Basin, the Gulf Coast, and international markets across the Middle East and Latin America. Specialising in hydrocarbon exploration, production, and chemical manufacturing, Oxy is renowned for its innovative approaches to sustainable energy solutions. The company’s core products include crude oil, natural gas, and petrochemicals, distinguished by their commitment to environmental stewardship and advanced technology. With a robust market position, Oxy has achieved significant milestones, including pioneering enhanced oil recovery techniques. The company continues to be recognised for its efforts in reducing carbon emissions and advancing sustainable practices within the energy sector.
DitchCarbon Score
How does Oxy's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Chemicals industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Oxy's score of 45 is higher than 98% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Oxy's reported carbon emissions
In 2023, Occidental Petroleum (Oxy) reported total carbon emissions of approximately 21,910,000,000 kg CO2e, comprising 17,370,000,000 kg CO2e from Scope 1, 4,550,000,000 kg CO2e from Scope 2, and 184,000,000,000 kg CO2e from Scope 3 emissions. This data reflects Oxy's ongoing commitment to transparency in its emissions reporting. Oxy has set ambitious climate commitments, aiming for net-zero emissions within its operations by 2040 and a broader net-zero ambition related to the use of its products by 2050. These targets align with the goals of the Paris Agreement, demonstrating Oxy's proactive approach to addressing climate change. Over recent years, Oxy has shown a trend of decreasing emissions intensity, with reported values of 33.5 kg CO2e per barrel of oil equivalent (BOE) in 2023, down from 34.2 kg CO2e per BOE in 2021. This reduction in emissions intensity indicates Oxy's efforts to improve operational efficiency and reduce its carbon footprint. Overall, Oxy's climate strategy focuses on significant reductions across all scopes of emissions, reinforcing its commitment to sustainability and environmental responsibility in the oil and gas sector.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 21,620,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
| Scope 2 | 5,910,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | 259,000,000,000 | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 | 000,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Oxy is not committed to any reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
