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 42 is higher than 68% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Oxy's reported carbon emissions
In 2023, Occidental Petroleum Corporation (Oxy) reported significant carbon emissions, totalling approximately 17370000000 kg CO2e for Scope 1, 4550000000 kg CO2e for Scope 2, and a substantial 234000000000 kg CO2e for Scope 3 emissions. The combined total for Scope 1 and 2 emissions reached about 21910000000 kg CO2e. This data reflects Oxy's ongoing commitment to transparency in its environmental impact. Oxy has set ambitious climate commitments, aiming for net-zero emissions in its operations (Scope 1 and 2) by 2040, with an aspiration to achieve this target even earlier, before 2035. Additionally, the company is working towards net-zero emissions associated with the use of its products by 2050. These targets are part of Oxy's broader strategy to align with the goals of the Paris Agreement. Historically, Oxy's emissions have shown fluctuations, with Scope 1 emissions at approximately 17600000000 kg CO2e in 2022 and 18500000000 kg CO2e in 2021. The company has also committed to reducing greenhouse gas emissions by 80% below 1990 levels by 2050, as mandated by Executive Order S-3-05. Oxy's emissions data is not cascaded from any parent organisation, ensuring that the figures represent its direct operational impact. The company continues to implement various pathways to achieve its climate goals, demonstrating a proactive approach to sustainability 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 participating in some of the initiatives that 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.
