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 47 is higher than 86% 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 (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 reflects a commitment to transparency in emissions reporting across all scopes. 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 by 2035. Additionally, the company is working towards net-zero emissions associated with the use of its products by 2050. These initiatives align with the goals of the Paris Agreement, demonstrating Oxy's proactive approach to addressing climate change. The company has shown a consistent reduction in emissions intensity over the years, with the emissions intensity for its oil and gas operations reported at about 33.5 kg CO2e per barrel of oil equivalent (BOE) in 2023. This reflects a broader trend of decreasing emissions intensity, which is crucial for meeting its long-term sustainability goals. Oxy's commitment to reducing its carbon footprint is evident in its strategic initiatives and long-term targets, positioning the company as a responsible player in the energy sector amidst growing environmental concerns.
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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.
