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INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2022
Investments And Related Party Transactions Disclosure [Abstract]  
Schedule of significant equity investments
Occidental’s significant equity investments are presented in investments in unconsolidated entities and in deferred credits and other liabilities - other. As of December 31, 2022 and 2021, investments in unconsolidated entities were $3.2 billion and $2.9 billion, respectively. Occidental’s equity investments presented in investments in unconsolidated entities primarily consist of the following:


millions% Economic InterestCarrying amount
WES (a)
51.7 %$2,006 
OxyChem Ingleside Facility50.0 %566 
OLCV - relatedvarious416 
Othervarious188 
Total Investments in unconsolidated entities (b)
$3,176 
(a)     In July 2022, Occidental sold 10.0 million limited partner units of WES for proceeds of approximately $250 million, resulting in a gain of $62 million. In 2021, Occidental sold 14.0 million limited partner units of WES for proceeds of $250 million, resulting in a gain of $102 million. In the first quarter of 2020, Occidental recorded an impairment of $1.2 billion in goodwill related to its ownership in WES and in the third quarter of 2020, recorded an other than temporary impairment of $2.7 billion related to the WES equity method investment. See Note 9 - Fair Value Measurements for more information on the impairments.
(b)    Not presented in investments in unconsolidated entities is Occidental’s 24.5% ownership in DEL, which had a carrying value of $213 million and is presented in deferred credits and other liabilities - other. Refer to the discussion below regarding the presentation of Occidental’s equity investment in DEL.
Summarized financial information of equity-method investments
The following table presents the summarized financial information of its equity-method investments combined for the years ended and as of December 31:

millions202220212020
Summarized Results of Operations
Revenues and other income$6,342 $6,252 $5,455 
Costs and expenses4,514 4,569 5,455 
Net income$1,828 $1,683 $— 
Summarized Balance Sheet
Current assets$3,482 $3,387 $1,419 
Non-current assets$15,282 $19,341 $18,693 
Current liabilities$1,342 $1,976 $1,549 
Long-term debt$9,512 $9,464 $7,860 
Other non-current liabilities$1,289 $1,187 $866 
Stockholders’ equity$6,621 $10,101 $9,837 
Summary of related-party transactions During 2022, 2021 and 2020, Occidental entered into the following related-party transactions and had the following amounts due from or to its related parties for the years ended December 31:
millions202220212020
Sales (a)
$337 $261 $301 
Purchases (b)
$948 $773 $1,112 
Services (c)
$1,006 $942 $1,101 
Advances and amounts due from related parties$40 $57 $62 
Amounts due to related parties$306 $280 $296 
(a)In 2022 and 2021 and 2020 sales of Occidental-produced oil and NGL to WES accounted for 42% and 58% and 70% of these totals, respectively.
(b)In 2022 and 2021 and 2020, purchases of gas and NGL marketed on behalf of WES accounted for 24% and 27% and 59% of related party purchases, respectively, while purchases of ethylene from the OxyChem Ingleside Facility accounted for 64% and 70% in 2022 and 2021 respectively, and, in 2020, for 41% of related party purchases.
(c)In 2022 and 2021 and 2020, services primarily related to fees charged by WES to gather, process and treat Occidental produced oil, NGL and natural gas. Excluded charges to WES for shared corporate services.