Oxy Low Carbon Ventures is a low-cost operator that applies technology to drive operational excellence and leverages global leadership in carbon management to advance their business. The company is tackling global emissions reductions through carbon capture utilization and storage technologies. The company's parent organization is the Occidental Petroleum Corporation.
Oxy Low Carbon Ventures has businesses focusing on oil and gas, carbon management, midstream and marketing, and chemicals.
Occidental's exploration and production activities are concentrated in the United States, the Middle East, Africa, and Latin America. In each of these regions, the company focuses on oil and gas assets where it can profitably increase production by applying appropriate technology and advanced reservoir management practices.
The company commits to using its global leadership in carbon dioxide management to advance a lower-carbon world. The Oxy Low Carbon Ventures subsidiary is advancing cutting-edge technologies and business solutions that economically grow their business while reducing emissions. Occidental focuses on reducing its total carbon impact by decreasing operational emissions, increasing energy efficiency, and capturing and retiring more carbon than its products create—and providing solutions to others looking to do the same.
In 2018, Occidental forms Oxy Low Carbon Ventures to sustainably enhance the business, while providing impactful global emissions reduction solutions. Oxy Low Carbon Ventures focuses on developing carbon capture, utilization, and storage (CCUS) technologies to remove human-made carbon dioxide from the atmosphere for use in lower carbon oil production operations and to help create other less carbon-intensive products, including fuels, chemicals, materials, and for negative emissions partnerships for hard-to-decarbonize industries.
Occidental's midstream and marketing segment purchases, markets, gathers, processes, transports, and stores oil, condensate, natural gas liquids, natural gas, CO2, and power.
OxyChem is a leading North American manufacturer of PVC resins, chlorine, and caustic soda, which are key building blocks of products such as pharmaceuticals, water treatment chemicals, and plastics.