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 25 is higher than 93% 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 Corporation (Oxy) reported total carbon emissions of approximately 25,900,000,000 kg CO2e, comprising 15,410,000,000 kg CO2e from Scope 1, 4,010,000,000 kg CO2e from Scope 2, and 259,000,000,000 kg CO2e from Scope 3 emissions. This reflects a significant commitment to transparency in their emissions reporting. Over the years, Oxy has demonstrated a trend in emissions intensity reduction. For instance, in 2019, the company reported a Scope 1 and 2 emissions intensity of 26.9 kg CO2e per barrel of oil equivalent (BOE), which improved to 33.5 kg CO2e per BOE in 2023. However, specific reduction targets or initiatives have not been disclosed, indicating a potential area for growth in their climate commitments. Oxy's emissions data highlights the substantial impact of Scope 3 emissions, which account for the majority of their total emissions, primarily from the use of sold products. This underscores the importance of addressing emissions throughout the entire value chain. As a company headquartered in the US, Oxy's climate strategy will be crucial in aligning with global climate goals and responding to increasing regulatory and societal pressures for sustainable practices.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 11,350,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 | 00,000,000,000 |
| Scope 2 | 3,200,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 | 0,000,000,000 |
| Scope 3 | 234,000,000,000 | 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.
