XML 31 R36.htm IDEA: XBRL DOCUMENT v2.4.1.9
Fair Value Measurements (Details) (USD $)
Share data in Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Fair Value - Other Financial Instruments    
Debt carrying value $ 6,900,000,000us-gaap_DebtInstrumentCarryingAmount $ 6,900,000,000us-gaap_DebtInstrumentCarryingAmount
Asset impairments and related items 324,000,000oxy_PretaxAssetImpairmentAndRelatedItems  
Pre-tax impairment of oil and gas properties 310,000,000us-gaap_ImpairmentOfOilAndGasProperties  
Level 1    
Assets:    
Available for sale investment 544,000,000oxy_ValueOfInvestmentRecordedAsAvailableForSaleAsset
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
394,000,000oxy_ValueOfInvestmentRecordedAsAvailableForSaleAsset
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
Fair Value - Other Financial Instruments    
Debt estimated fair value 7,200,000,000us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
7,000,000,000us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
Investment recorded as available for sale asset, shares owned 71.5oxy_InvestmentRecordedAsAvailableForSaleAssetSharesOwned
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
 
Level 2    
Fair Value - Other Financial Instruments    
Debt estimated fair value 90,000,000us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
 
Total Fair Value    
Assets:    
Available for sale investment 544,000,000oxy_ValueOfInvestmentRecordedAsAvailableForSaleAsset
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
394,000,000oxy_ValueOfInvestmentRecordedAsAvailableForSaleAsset
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
Recurring | Level 1    
Assets:    
Commodity derivatives 360,000,000us-gaap_PriceRiskDerivativeAssetsAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
712,000,000us-gaap_PriceRiskDerivativeAssetsAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Liabilities:    
Commodity derivatives 350,000,000us-gaap_PriceRiskDerivativeLiabilitiesAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
750,000,000us-gaap_PriceRiskDerivativeLiabilitiesAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Recurring | Level 2    
Assets:    
Commodity derivatives 54,000,000us-gaap_PriceRiskDerivativeAssetsAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
127,000,000us-gaap_PriceRiskDerivativeAssetsAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Liabilities:    
Commodity derivatives 233,000,000us-gaap_PriceRiskDerivativeLiabilitiesAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
246,000,000us-gaap_PriceRiskDerivativeLiabilitiesAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Recurring | Netting and Collateral    
Assets:    
Commodity derivatives (331,000,000)us-gaap_PriceRiskDerivativeAssetsAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= oxy_NettingOrCollateralMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
(742,000,000)us-gaap_PriceRiskDerivativeAssetsAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= oxy_NettingOrCollateralMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Liabilities:    
Commodity derivatives (349,000,000)us-gaap_PriceRiskDerivativeLiabilitiesAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= oxy_NettingOrCollateralMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
(756,000,000)us-gaap_PriceRiskDerivativeLiabilitiesAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= oxy_NettingOrCollateralMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Recurring | Total Fair Value    
Assets:    
Commodity derivatives 83,000,000us-gaap_PriceRiskDerivativeAssetsAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
97,000,000us-gaap_PriceRiskDerivativeAssetsAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Liabilities:    
Commodity derivatives 234,000,000us-gaap_PriceRiskDerivativeLiabilitiesAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
240,000,000us-gaap_PriceRiskDerivativeLiabilitiesAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Non recurring | Proved oil and gas assets - domestic    
Fair Value - Other Financial Instruments    
Pre-tax impairment of oil and gas properties 160,000,000us-gaap_ImpairmentOfOilAndGasProperties
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementGeographicalAxis
= oxy_DomesticProvedOilAndGasAssetsMember
2,759,000,000us-gaap_ImpairmentOfOilAndGasProperties
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementGeographicalAxis
= oxy_DomesticProvedOilAndGasAssetsMember
Non recurring | Proved oil and gas assets - international    
Fair Value - Other Financial Instruments    
Pre-tax impairment of oil and gas properties   1,039,000,000us-gaap_ImpairmentOfOilAndGasProperties
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementGeographicalAxis
= oxy_InternationalProvedOilAndGasAssetsMember
Non recurring | Property, plant, and equipment | Chemical    
Fair Value - Other Financial Instruments    
Pre-tax impairment of oil and gas properties   111,000,000us-gaap_ImpairmentOfOilAndGasProperties
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementBusinessSegmentsAxis
= oxy_ChemicalMember
/ us-gaap_StatementGeographicalAxis
= us-gaap_PropertyPlantAndEquipmentMember
Non recurring | Level 3 | Proved oil and gas assets - domestic    
Fair Value - Other Financial Instruments    
Carrying value of impaired assets 41,000,000oxy_CarryingValueOfImpairedAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementGeographicalAxis
= oxy_DomesticProvedOilAndGasAssetsMember
2,249,000,000oxy_CarryingValueOfImpairedAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementGeographicalAxis
= oxy_DomesticProvedOilAndGasAssetsMember
Non recurring | Level 3 | Proved oil and gas assets - international    
Fair Value - Other Financial Instruments    
Carrying value of impaired assets   45,000,000oxy_CarryingValueOfImpairedAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementGeographicalAxis
= oxy_InternationalProvedOilAndGasAssetsMember
Non recurring | Level 3 | Property, plant, and equipment | Chemical    
Fair Value - Other Financial Instruments    
Carrying value of impaired assets   18,000,000oxy_CarryingValueOfImpairedAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementBusinessSegmentsAxis
= oxy_ChemicalMember
/ us-gaap_StatementGeographicalAxis
= us-gaap_PropertyPlantAndEquipmentMember
Non recurring | Net Book Value | Proved oil and gas assets - domestic    
Fair Value - Other Financial Instruments    
Carrying value of impaired assets 201,000,000oxy_CarryingValueOfImpairedAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= oxy_NetBookValueMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementGeographicalAxis
= oxy_DomesticProvedOilAndGasAssetsMember
5,008,000,000oxy_CarryingValueOfImpairedAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= oxy_NetBookValueMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementGeographicalAxis
= oxy_DomesticProvedOilAndGasAssetsMember
Non recurring | Net Book Value | Proved oil and gas assets - international    
Fair Value - Other Financial Instruments    
Carrying value of impaired assets   1,084,000,000oxy_CarryingValueOfImpairedAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= oxy_NetBookValueMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementGeographicalAxis
= oxy_InternationalProvedOilAndGasAssetsMember
Non recurring | Net Book Value | Property, plant, and equipment | Chemical    
Fair Value - Other Financial Instruments    
Carrying value of impaired assets   $ 129,000,000oxy_CarryingValueOfImpairedAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= oxy_NetBookValueMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsNonrecurringMember
/ us-gaap_StatementBusinessSegmentsAxis
= oxy_ChemicalMember
/ us-gaap_StatementGeographicalAxis
= us-gaap_PropertyPlantAndEquipmentMember