Occidental Petroleum

CEO Vicki Hollub delivered large strategic moves (Anadarko, CrownRock, OxyChem sale) and positioned Oxy early in DAC. Berkshire Hathaway’s continuing stake and relationship provide both validation and optionality, though preferred dividends and warrants reflect expensive 2019 financing.

Communication on debt targets, capex discipline and cost reductions has been consistent, but the overall record blends bold bets with elevated financial risk through the cycle.