Financial Statement Analysis: Occidental Petroleum Corporation
Financial Statement Analysis: Occidental Petroleum Corporation
University of Texas of the Permian Basin
I. Introduction
a. Major issues/problems facing the firm
b. Objective of paper
c. Summary of findings
II. Firm, Industry, and environment
a. Description of the firm and its management
Occidental Petroleum Corporation is a Delaware corporation. Its businesses consist of three segments: oil and gas, chemical, & midstream, marketing and other subsidiaries. The oil and gas segment explores, develops, produces and markets crude oil, which includes natural gas. The chemical segment manufactures and markets basic chemicals. The midstream, marketing and other segment gather, treat, process, transport, store, purchase and market crude oil, natural gas, carbon dioxide and power. It also trades around its assets, including pipelines and storage capacity, and trades commodities and securities. Occidental 's domestic oil and gas operations are located in Texas, New Mexico, California, Kansas, Oklahoma, Utah and Colorado. International operations are located in Argentina, Bahrain, Bolivia, Colombia, Libya, Oman, Qatar, the United Arab Emirates and Yemen.
b. Discussion of competitive environment
As a producer of oil and natural gas, Occidental competes with numerous other domestic and foreign private and government producers. Occidental competes by developing and producing its worldwide oil and gas reserves cost-effectively and acquiring rights to explore and develop in areas with known oil and gas deposits. The Company 's operations are subject to stringent federal, state, local and foreign laws and regulations relating to improving or maintaining environmental quality.
c. Economic climate and outlook:
Occidental Petroleum is no stranger to volatile markets, but stronger commodity prices and increased production have helped Occidental Petroleum lift revenues and income in 2010 and early 2011. “Worldwide oil and
University of Texas of the Permian Basin
I. Introduction
a. Major issues/problems facing the firm
b. Objective of paper
c. Summary of findings
II. Firm, Industry, and environment
a. Description of the firm and its management
Occidental Petroleum Corporation is a Delaware corporation. Its businesses consist of three segments: oil and gas, chemical, & midstream, marketing and other subsidiaries. The oil and gas segment explores, develops, produces and markets crude oil, which includes natural gas. The chemical segment manufactures and markets basic chemicals. The midstream, marketing and other segment gather, treat, process, transport, store, purchase and market crude oil, natural gas, carbon dioxide and power. It also trades around its assets, including pipelines and storage capacity, and trades commodities and securities. Occidental 's domestic oil and gas operations are located in Texas, New Mexico, California, Kansas, Oklahoma, Utah and Colorado. International operations are located in Argentina, Bahrain, Bolivia, Colombia, Libya, Oman, Qatar, the United Arab Emirates and Yemen.
b. Discussion of competitive environment
As a producer of oil and natural gas, Occidental competes with numerous other domestic and foreign private and government producers. Occidental competes by developing and producing its worldwide oil and gas reserves cost-effectively and acquiring rights to explore and develop in areas with known oil and gas deposits. The Company 's operations are subject to stringent federal, state, local and foreign laws and regulations relating to improving or maintaining environmental quality.
c. Economic climate and outlook:
Occidental Petroleum is no stranger to volatile markets, but stronger commodity prices and increased production have helped Occidental Petroleum lift revenues and income in 2010 and early 2011. “Worldwide oil and
References: 1. Occidental Petroleum Corporation. (1 July). Hoover 's Company Records, 11110. Retrieved July 13, 2011, from Hoover 's Company Records. (Document ID: 168145271). 2. Irani, R. and Chazen, S. (2010, December). 2010 Annual Report. Occidental Petroleum Corporation. Retrieved July 13, 2011, from http://www.oxy.com/annualreport/ChairmansLetter/LookingAhead.aspx 3. Bombourg, N. (2011, March). The Oil & Gas Exploration & Production (E&P) Market 2011-2021. ReportLinker. Retrieved July 13, 2011, from http://africabusiness.com/2011/03/26/reportlinker-adds-the-oil-gas-exploration-production-ep-market-2011-2021/ 4. Occidental petroleum corp.. (2011). Retrieved from http://www.stock-analysis-on.net/NYSE/Company/Occidental-Petroleum-Corp 5. Occidental petroleum corp.. (2011). Retrieved from http://www.marketwatch.com/investing/stock/oxy