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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) JULY 18, 1997
OCCIDENTAL PETROLEUM CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-9210 95-4035997
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
10889 WILSHIRE BOULEVARD, LOS ANGELES, CALIFORNIA 90024
(Address of principal executive offices) (ZIP code)
Registrant's telephone number, including area code:
(310) 208-8800
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Item 5. Other Events
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LEGAL PROCEEDINGS - RECENT DEVELOPMENTS
In 1991, Continental Trend Resources ("CTR") obtained a
jury verdict against OXY USA in the U.S. District Court for
the Western District of Oklahoma for $269,000 in actual
damages and $30 million in punitive damages for tortious
interference with contract. The verdict has been on appeal
since 1991, during which time interest on the original
verdict has been accruing. In November 1996, the 10th
Circuit Court of Appeals reduced the punitive damage award
to $6 million. In June 1997, OXY USA paid CTR $9.5 million
as a final settlement of this case.
The Registrant has been informed by the SEC that it is
conducting a private, formal investigation into the matters
that were the subject of the internal inquiry by the
Registrant described in a "Wall Street Journal" article on
May 12, 1997. Other agencies may also seek information
on the internal inquiry. The Registrant is cooperating with
the SEC in its conduct of this investigation.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly
authorized.
OCCIDENTAL PETROLEUM CORPORATION
(Registrant)
DATE: July 22, 1997 S. P. Dominick, Jr.
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S. P. Dominick, Jr., Vice
President and Controller
(Chief Accounting and Duly
Authorized Officer)
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