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.
-2 vs industry average
Oxy’s score of 27 is higher than 55% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Chemicals is among the most carbon-intensive industries
Industry performance
The Chemicals industry has reduced its overall emissions by 6% since 2019
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Oxy's reported carbon emissions
In 2024, Occidental Petroleum Corporation (Oxy) reported total carbon emissions of approximately 22.73 billion kg CO2e, comprising 17.9 billion kg CO2e from Scope 1 and 4.83 billion kg CO2e from Scope 2 emissions. The company 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, Oxy is working towards net-zero emissions associated with the use of its products by 2050. Oxy's long-term reduction strategy includes a mandate to reduce greenhouse gas emissions by 80% below 1990 levels by 2050, as outlined in Executive Order S-3-05. This commitment reflects Oxy's proactive approach to addressing climate change and aligns with the goals of the Paris Agreement. The company has consistently reported its emissions data, with a focus on transparency and accountability. Oxy's emissions data is not cascaded from any parent organization, ensuring that the figures reflect its direct operational impact.
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Oxy’s Climate Goals (2030 & 2050)
4 goals2040
Net-zero emissions in our operations and energy use (Scope 1…
Net-zero emissions in our operations and energy use (Scope 1 and 2)* before 2040, with an ambition to achieve before 2035;
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives
Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Oxy
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