November 14, 2025–Written by Will Ploch, Assistant Editor-in-Chief for Industrial Info Resources (Sugar Land, Texas)–Occidental Petroleum Corporation (Houston, Texas) is preparing for a large-scale transformation, as executive express optimism that the pending sale of the company’s largest chemical business, OxyChem, to Berkshire Hathaway Incorporated (Omaha, Nebraska) will allow it to reduce debt and focus on its oil and gas business. The company also is reducing its global exposure risk, as it shifts much of its oil and gas portfolio to domestic sources.
Industrial Info is tracking about $3.4 billion worth of projects from Occidental, including the chemical assets set to be acquired soon by Berkshire. Despite better-than-expected growth in the third quarter, Occidental is tempering expectations for 2026. Executives expect overall production to increase by no more than 2%, driven largely by the Permian.
Other companies featured: Abu Dhabi National Oil Company (ADNOC)
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