2020 was a year of extreme volatility for our industry and the world, as the COVID-19 pandemic and a commodity price war led to unprecedented challenges.
2020年对我们的行业和整个世界来说是极端动荡的一年，COVID-19疫情与一场商品价格战带来了前所未有的挑战。
Amid these difficulties, Occidental continued to make meaningful progress to strengthen our balance sheet and position our company for the future. As a best-in-class, low-cost operator, we apply technology to drive performance and leverage our global leadership in carbon management to advance our business. We believe our core differentiators—an industry-leading portfolio, track record of operational excellence and efficiency, and strategy to achieve net-zero greenhouse gas (GHG) emissions—enable us to deliver long-term value for shareholders.
在这些困难中，西方石油公司持续取得重要进展，加强资产负债表并为公司未来发展做好准备。作为同类最佳、低成本的运营商，我们运用技术提升绩效，并利用我们在碳管理方面的全球领导地位推动业务发展。我们相信，我们的核心优势——业内领先的资产组合、卓越高效的运营记录，以及实现温室气体（GHG）净零排放的战略——使我们能够为股东创造长期价值。
Occidental transitioned into 2021 with an improved financial position due to achieving our 2020 divestiture target, reducing debt by \$2.4 billion and successfully extending \$7 billion in debt maturities to 2025 and beyond.
由于实现了2020年的资产剥离目标，减少了24亿美元债务，并成功将70亿美元的债务到期时间延长至2025年及以后，西方石油公司在进入2021年时财务状况得到了改善。
We significantly lowered capital spending and implemented substantial operating and corporate cost reductions. Our 2021 capital budget prioritizes free cash flow and our high-quality asset base provides flexibility to adjust activity and capital allocations. There is much work ahead, but we are confident the steps we are taking will make us stronger and more competitive.
我们大幅削减了资本支出，并实施了大规模的运营和公司成本削减措施。2021年的资本预算优先考虑自由现金流，我们的高质量资产基础为调整运营活动和资本配置提供了灵活性。尽管未来仍有大量工作要做，但我们相信我们所采取的措施将使我们更强大、更具竞争力。
As one of the largest oil producers in the U.S., we hold a leading position in the Permian and Denver-Julesburg Basins and offshore Gulf of Mexico. Internationally, we are the largest independent oil producer in Oman, have leading positions in the United Arab Emirates and Algeria, and hold highly prospective exploration blocks offshore Colombia.
作为美国最大的石油生产商之一，我们在二叠纪盆地、丹佛-朱尔斯堡盆地以及墨西哥湾近海地区处于领先地位。在国际上，我们是阿曼最大的独立石油生产商，在阿联酋和阿尔及利亚拥有领先地位，并在哥伦比亚近海拥有前景广阔的勘探区块。
Our midstream and marketing segment complements our upstream operations, providing an integrated business from point of production to point of sale. OxyChem, our world-class chemical business, generates significant free cash flow with growth opportunities and a best-in-class safety record. Our Oxy Low Carbon Ventures business advances leading-edge technologies and business solutions to economically grow our business while reducing emissions.
我们的中游和市场营销部门为上游业务提供补充，实现从生产端到销售端的全产业链一体化。OxyChem是我们世界一流的化工业务，拥有可观的自由现金流、增长潜力和行业领先的安全记录。我们的Oxy低碳创投业务推动前沿技术和商业解决方案，旨在在减少排放的同时实现经济增长。
Our future depends on a world with lower emissions and we recently set new targets to reduce our GHG emissions, including methane, and are on track to end routine gas flaring by 2030. I am proud we are the first U.S. energy company to announce an ambition to achieve net-zero GHG emissions associated with our operations by 2040 and the use of our products by 2050.
我们的未来取决于一个低排放的世界，我们近期设定了新的目标，以减少包括甲烷在内的温室气体排放，并计划在2030年前结束常规燃气放空。我为此感到自豪——我们是首家宣布力争在2040年实现自身运营相关温室气体净零排放，并在2050年前实现产品使用相关净零排放的美国能源公司。
Occidental is committed to using our global leadership and over 40 years of experience in carbon management to advance a lower-carbon world. We are a founding member of the six Energy Transition Principles, an industry-led collaboration to advance the Paris Agreement objectives, and were the first U.S. oil and gas company to endorse the World Bank's "Zero Routine Flaring by 2030" initiative.
西方石油致力于利用我们在碳管理领域的全球领导地位和超过40年的经验，推动构建一个低碳世界。我们是“能源转型六大原则”的创始成员之一，这是一个以行业为主导、旨在推动《巴黎协定》目标实现的合作平台；我们也是首家支持世界银行“2030年零常规燃气放空”倡议的美国油气公司。
We are a member of the Oil and Gas Climate Initiative, a group of leading global energy companies accelerating our sector's response to climate change.
我们是“油气气候倡议”组织成员之一，该组织由全球领先的能源公司组成，致力于加快整个行业对气候变化的应对。
Safety is integral to our company, and we had our best-ever safety performance in 2020. We were pleased to be ranked among Fortune's Most Admired Companies' Mining, Crude-Oil Production category in 2021. Occidental has made the list every reported year since 2008, including the No. 1 ranking 11 times.
安全是我们公司不可或缺的一部分，我们在2020年取得了有史以来最好的安全业绩。我们很高兴在2021年被《财富》杂志评为“最受赞赏公司”采矿与原油生产类别之一。自2008年起，西方石油每年都入选该榜单，并曾11次获得该类别第一名。
Our Board of Directors is committed to strong corporate governance and board refreshment to ensure diverse leadership experience. Steve Chazen, our former CEO, has joined the Board as Chairman, and we have added four new independent directors. The Board created the Sustainability and Shareholder Engagement Committee to enhance proactive outreach with key stakeholders. The Board is also a driving force behind our commitment to promote diversity, inclusion and a culture of belonging, all of which I strongly believe are critical to our future success.
我们的董事会致力于强有力的公司治理和董事会更新，以确保领导团队具备多元化的经验。我们的前首席执行官Steve Chazen已加入董事会并担任主席，我们还新增了四位独立董事。董事会成立了“可持续发展与股东参与委员会”，以加强与关键利益相关方的主动沟通。董事会也是我们推进多元化、包容性和归属感文化承诺背后的推动力量，我坚信这些因素对我们未来的成功至关重要。
We recently celebrated Occidental's centennial. Our first century's achievements reflect our technical expertise, ability to adapt quickly and ceaseless drive to lead with innovation. These same attributes, combined with our talented workforce, laser focus on efficiency, and unique and defining approach to sustainability in a low-carbon world, will ensure our leadership over the next 100 years.
我们最近庆祝了西方石油成立一百周年。我们第一个百年的成就体现了我们的技术专长、快速适应能力和不断创新的领导精神。这些特质，加上我们优秀的人才队伍、对效率的极致追求以及在低碳世界中独特而关键的可持续发展战略，将确保我们在未来一百年继续保持领导地位。