Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 60

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 60
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 of remedial systems. The environmental proceedings seek funding or performance of remediation and, in some cases, compensation for alleged property damage, natural resource damages, punitive damages, civil penalties, injunctive relief and government oversight costs.ENVIRONMENTAL REMEDIATIONAs of December 31, 2024, certain Occidental subsidiaries participated in or monitored remedial activities or proceedings at 158 sites. The following table presents the current and non-current environmental remediation liabilities of such subsidiaries on a consolidated basis as of December 31, 2024 and 2023, the current portion of which is included in accrued liabilities ($150 million in 2024 and $132 million in 2023) and the remainder in deferred credits and other liabilities - environmental remediation liabilities ($1.8 billion in 2024 and $0.9 billion in 2023).These environmental remediation sites are grouped into NPL Sites and the following three categories of non-NPL Sites —Third-Party Sites, Currently Operated Sites and Closed or Non-operated Sites.20242023millions, except number of sitesNumber of SitesRemediation BalanceNumber of SitesRemediation BalanceNPL Sites32 $1,374 32 $435 Third-Party Sites63 200 65 233 Currently Operated Sites12 88 12 98 Closed or Non-operated Sites51 247 51 255 Total158 $1,909 160 $1,021 As of December 31, 2024, environmental remediation liabilities of Occidental subsidiaries exceeded $10 million each at 16 of the 158 sites described above, and 88 of the sites had liabilities less than $1 million each.The DASS in Newark, New Jersey accounted for a significant portion of the liabilities associated with the category of NPL Sites. During 2024, OxyChem increased the environmental remediation liability related to the DASS by $925 million. See Note 13 - Lawsuits, Claims, Commitments and Contingencies under the heading “Diamond Alkali Superfund Site Litigation”.Five of the 63 Third-Party Sites — a former copper mining and smelting operation in Tennessee, a chrome site in New Jersey, a former oil field and a landfill in California and an active refinery in Louisiana where Occidental reimburses the current owner for certain remediation activities — accounted for approximately two thirds of the liabilities associated with this category.