Occidental was earlier this year named among the top 10 shale operators, with 1.22 million barrels of oil equivalent in daily production. This placed it third after Exxon and sector independent Expand Energy.
Occidental Petroleum is reportedly in talks to divest its petrochemicals division, OxyChem, in a deal that could be worth up to $10 billion and would create one of the largest independent petrochemicals companies in the world.
Occidental launched a $4.5 billion-$6 billion divestiture program when it announced its merger with CrownRock LP late 2023. It announced the completion of the $12.4 billion purchase August 1, 2024.