Occidental Petroleum’s Revenue Breakdown Worldwide (2018-2022)

This statistic highlights Occidental Petroleum’s Revenue Breakdown Worldwide, split between Latin America, Middle East, United States, and Other International regions, reported on a quarterly basis from 2018 onwards.

Occidental Petroleum Corporation is an American multinational company engaged in hydrocarbon exploration in the United States, the Middle East, and Colombia and petrochemical manufacturing in the United States, Canada, and Chile.

Occidental Petroleum’s Revenue Breakdown Worldwide

(All figures in billions, except percentages)

Latin America

This region contributed about 4% of the company’s total revenue in Q3 2020. There was a 68% increase in the company’s revenue from this region, from $0.103 billion in Q2 2020 to $0.174 billion in Q3 2020. But there was a 7% decrease compared to Q1 2020, where the company earned $0.189 billion.

In Latin America, the company operates in Peru, Bolivia, Argentina, Brazil, Venezuela, Costa Rica, Mexico, Trinidad, Columbia, Uruguay, Chile, etc.

Middle East

Middle East contributed about 14% of the company’s total revenue in Q3 2020. There was a 3% increase in the company’s revenue from this region, from $0.583 billion in Q2 2020 to $0.600 billion in Q3 2020. But there was an 8% decrease compared to Q1 2020, where the company earned $0.653 billion.

In this region, the company operates in countries such as Egypt, Iran, Iraq, Israel, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, United Arab Emirates, etc.

Occidental Petroleum Corp is the largest independent oil producer in Oman. In Qatar, the company is the second-largest oil producer offshore and is a partial owner in the Dolphin Gas Project, which delivers gas to Oman and the United Arab Emirates.

United States

A majority of Occidental Petroleum’s revenue comes from the United States, which contributed about 80% of total revenue in Q3 2020 amounting to $3.346 billion. There was a 27% increase in revenue compared to Q2 2020 where the revenue generated from this region was $2.619 billion. But there was a 24% decrease as compared to Q1 2020 when $4.439 billion was earned.  In Q4 2019, this region earned $5.847 billion which is the highest revenue earned from any region in any quarter.

Occidental Petroleum Corp’s US operations generated 1,037 thousand barrels of oil equivalent per day in 2020, accounting for 77% of the company’s global output.

In the United States, the company has plants in New Jersey, Los Angeles, Michigan, New York, Texas, Ohio, etc.

Other International 

Revenue from International regions contributed about 2% of the company’s total revenue in Q3 2020. There was a 51% decrease in the company’s revenue from this region, from $0.165 billion in Q2 2020 to $0.080 billion in Q3 2020. But there was a 128% increase compared to Q1 2020, where the company earned -$0.035 billion.

In the International regions, the company has its plants in countries such as United Kingdom, Spain, France, Belgium, Ireland, Germany, South Africa, etc.

Due to the COVID 19 pandemic, the company’s total revenue has fallen from $5.246 billion in Q1 2020 to $4.200 billion in Q3 2020, which is a 19% decrease.

Company Overview

Occidental Petroleum Corp is a public limited company founded in 1920. The company is headquartered in Greenway Plaza Houston, Texas. As of 2021, the number of employees of the company worldwide was 11,800. Occidental Petroleum Corp’s key managerial persons are Vicki Hollub (President and CEO), Cedric W. Burgher (CFO), and Eugene L. Batchelder (Chairman). The common stocks of Occidental Petroleum Corp are listed on the New York Stock Exchange under the ticker symbol “OXY”. Occidental Petroleum is ranked 167th on the Fortune 500 and 669th on the Forbes Global 2000. The competitors of Occidental Petroleum are ExxonMobil, Pioneer Natural Resources, Williams Companies, Saudi Aramco, ConocoPhillips, MOL Group, and Pemex.

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