Occidental Petroleum 2006 Annual Report Download - page 67
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The following table shows environmental reserve activity for the past three years:
Occidental expects to expend funds equivalent to about half of the current environmental reserve over the next three years and the balance
over the next ten or more years. Occidental believes it is reasonably possible that it will continue to incur additional liabilities beyond those
recorded for environmental remediation at these sites. The range of reasonably possible loss for existing environmental remediation matters could
be up to $430 million beyond the amount accrued. For management’s opinion, refer to Note 9.
CERCLA and Equivalent Sites
As of December 31, 2006, OPC or certain of its subsidiaries have been named in 105 CERCLA or state equivalent proceedings, as shown
below.
The six sites with individual reserves over $10 million in 2006 include a former copper mining and smelting operation in Tennessee, two
closed landfills in western New York and groundwater treatment facilities at three closed chemical plants (Montague, Michigan, western New York
and Tacoma, Washington).
Active Facilities
Certain subsidiaries of OPC are currently addressing releases of substances from past operations at 21 active facilities. Five facilities — a
chemical plant in Louisiana, a phosphorous recovery operation in Tennessee, a chemical plant in Texas, a chemical plant in Kansas and certain
oil and gas properties in the southwestern United States — account for 69 percent of the reserves associated with these facilities.
Closed or Sold Facilities
There are 40 sites formerly owned or operated by certain subsidiaries of OPC that have ongoing environmental remediation requirements in
which OPC or its subsidiaries are involved. Five sites account for 70 percent of the reserves associated with this group. The five sites are: an
active refinery in Louisiana where Occidental indemnifies the current owner and operator for certain remedial actions, a water treatment facility at
a former coal mine in Pennsylvania, a closed Occidental Chemical Corporation (OCC) chemical plant in Pennsylvania, a closed landfill in
western New York and a water-treatment facility at a former OCC chemical plant in North Carolina.
ENVIRONMENTAL COSTS
Occidental’s costs, some of which may include estimates, relating to compliance with environmental laws and regulations are shown below for
each segment:
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