Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Occidental Petroleum Corporation (OXY) Halal?

FAIL

Occidental Petroleum Corporation · NYSE: OXY · Energy

The short answer

No -- Occidental Petroleum (OXY) fails this Shariah stock screen at the debt gate. Per its own FY2025 10-K, total debt and finance leases were $22,396M at December 31, 2025 -- about 39.26% of its ~$57.05B market cap ($57.84, latest quote retrieved October 2, 2026; 986,266,656 shares outstanding per the 10-K cover), above the ~33% ceiling. Its business gate passes: it is an international oil and gas producer (Houston-based; Permian, DJ Basins, offshore Gulf of America, largest independent oil producer in Oman) with midstream and marketing operations -- none of the non-compliant business activities apply, and its former chemicals business was sold to Berkshire Hathaway for $9.7B (completed January 2, 2026). Its non-compliant income gate also passes: interest, dividends and other income of $219M is about 0.99% of its $22,075M in total revenue, below the 5% ceiling. Third-party coverage is split: Zoya flags OXY not Shariah-compliant while Musaffa classifies it halal as of October 2026; no ShariaPortfolio coverage was found -- honestly reported, not invented.

Gate 1 — Business activity: PASS

Occidental Petroleum Corporation (NYSE: OXY), headquartered in Houston, Texas, describes itself in its FY2025 10-K as an international energy company with premier diversified assets in the United States, the Middle East and North Africa. It ranks among the largest U.S. oil and gas producers -- leading Permian and DJ Basin positions, offshore Gulf of America, and the largest independent oil producer in Oman. Its two continuing reportable segments are oil and gas (exploration, development, production) and midstream and marketing (flow assurance and value optimization of oil and gas operations), the latter housing Oxy Low Carbon Ventures (direct air capture, carbon sequestration, lithium development). The former chemicals business, OxyChem, was sold to Berkshire Hathaway for $9.7B (completed January 2, 2026) and is reported as discontinued operations. Business screen (factual, from the filing): oil and gas exploration/production and midstream marketing are not among the non-compliant business activities (conventional banking/lending/insurance, alcohol, gambling, pork, tobacco, weapons) under the AAOIFI-style business screen applied on this site. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: FAIL

Per Occidental's FY2025 10-K (fiscal year ended December 31, 2025), total debt and finance leases were $22,396M -- net book value of borrowings $21,397M plus long-term finance leases $801M and current finance leases $198M (Note 5). The $8,287M of 8% series A preferred stock held by Berkshire Hathaway is classified as equity on the balance sheet and is not counted as debt. Against a market cap of about $57.05B ($57.84 latest quote retrieved October 2, 2026; 986,266,656 shares outstanding per the 10-K cover as of January 31, 2026), debt divided by market cap is about 39.26%, above the ~33% ceiling. Cash and cash equivalents of $1,968M are about 3.45% of market cap (plus $41M in assets held for sale). Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: PASS

Occidental's FY2025 10-K income statement reports 'Interest, dividends and other income' of $219M against total revenue of $22,075M (net sales $21,593M plus gains on sales of assets and other) -- about 0.99% of revenue, below the 5% non-compliant income ceiling. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Occidental Petroleum do?

Occidental Petroleum Corporation (NYSE: OXY), based in Houston, Texas, describes itself in its FY2025 10-K as an international energy company with premier diversified oil and gas assets in the United States, the Middle East and North Africa. It ranks among the largest U.S. oil and gas producers, holding leading positions in the Permian and DJ Basins and offshore Gulf of America, and is the largest independent oil producer in Oman. It reports two continuing segments: oil and gas (exploration, development and production) and midstream and marketing (gathering, processing, transport, storage and marketing of oil, gas, NGLs and power), which also houses Oxy Low Carbon Ventures -- direct air capture, carbon sequestration and lithium development. Its former chemicals business, OxyChem, was sold to Berkshire Hathaway for $9.7 billion (completed January 2, 2026) and is reported as discontinued operations.

Why does Occidental Petroleum fail this Shariah stock screen?

Occidental Petroleum fails this screen at the debt gate. Per its FY2025 10-K, total debt and finance leases were $22,396M at December 31, 2025, which is about 39.26% of its ~$57.05B market cap ($57.84 latest quote retrieved October 2, 2026; 986,266,656 shares outstanding per the 10-K cover), above the ~33% ceiling. The business-activity gate passes -- oil and gas exploration/production and midstream marketing are not non-compliant business activities under the AAOIFI-style business screen -- and the non-compliant income gate passes, with interest, dividends and other income of $219M at about 0.99% of $22,075M in total revenue, below the 5% ceiling. This is a factual screen, not a religious ruling -- consult a qualified scholar for personal rulings.

What is Occidental Petroleum's interest-bearing debt ratio?

Per Occidental's FY2025 10-K, total debt and finance leases were $22,396M at December 31, 2025 -- net book value of borrowings of $21,397M plus long-term finance leases of $801M and current finance leases of $198M (Note 5). Against a market cap of about $57.05B ($57.84 latest quote retrieved October 2, 2026; 986,266,656 shares outstanding per the 10-K cover as of January 31, 2026), debt divided by market cap is about 39.26% -- above the ~33% ceiling, so the debt gate fails. The $8,287M of 8% preferred stock held by Berkshire Hathaway is classified as equity on the balance sheet and is not counted as debt. Cash and cash equivalents of $1,968M are about 3.45% of market cap (plus $41M of cash in assets held for sale).

What is Occidental Petroleum's non-compliant income ratio?

Occidental's FY2025 10-K income statement reports 'Interest, dividends and other income' of $219M against total revenue of $22,075M -- about 0.99% of revenue, below the 5% non-compliant income ceiling. The non-compliant income gate passes.

Do Zoya, Musaffa, or ShariaPortfolio cover Occidental Petroleum?

Zoya covers OXY and flags it as not Shariah-compliant under its AAOIFI-based assessment (accessed October 2026; its page separately cites FY2025 interest income of $219M against revenue of $21,593M, matching the 10-K) -- it does not rate Occidental halal. Musaffa covers OXY and classifies it as halal as of October 2026 under its AAOIFI methodology. No ShariaPortfolio screener page for OXY was found in October 2026. The two reported positions disagree; this page applies the screen directly from Occidental's own filings and reports them honestly.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).