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UNITED STATES

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 24, 2008

OCCIDENTAL PETROLEUM CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	1-9210	95-4035997
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer 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

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 – Financial Information

Item 2.02. Results of Operations and Financial Condition

On July 24, 2008, Occidental Petroleum Corporation released information regarding its results of operations for the three and six months ended June 30, 2008. The exhibits to this Form 8-K and the information set forth in this Item 2.02 are being furnished pursuant to Item 2.02, Results of Operations and Financial Condition. The full text of the press release is attached to this report as Exhibit 99.1. The full text of the speeches given by Dr. Ray R. Irani and Stephen I. Chazen is attached to this report as Exhibit 99.2. Investor Relations Supplemental Schedules are attached to this report as Exhibit 99.3. Earnings Conference Call Slides are attached to this report as Exhibit 99.4. Forward-Looking Statements Disclosure for Earnings Release Presentation Materials is attached to this report as Exhibit 99.5.

Section 8 – Other Events

Item 8.01. Other Events

On July 24, 2008, Occidental Petroleum Corporation announced net income of $2.297 billion ($2.78 per diluted share) for the second quarter of 2008, compared with $1.412 billion ($1.68 per diluted share) for the second quarter of 2007.

Core results for the second quarter of 2008 were $2.300 billion ($2.79 per diluted share), compared with $943 million ($1.12 per diluted share) for the second quarter of 2007. See the attached schedule for a reconciliation of net income to core results.

QUARTERLY RESULTS

Oil and Gas

Oil and gas segment earnings were $3.806 billion for the second quarter of 2008, compared with $1.658 billion for the same period in 2007. The $2.1 billion increase in the second quarter 2008 segment earnings reflected $2.2 billion of increases from record crude oil and higher natural gas prices, higher oil and gas production and lower exploration expense, partially offset by increased DD&A rates and higher operating expenses.

For the second quarter of 2008, daily oil and gas production averaged 588,000 barrels of oil equivalent (BOE), compared with 558,000 BOE per day produced in the second quarter of 2007. The bulk of the production increase was the result of 46,000 BOE per day from the Dolphin project, which began production in the third quarter of 2007, and 11,000 BOE per day from recently acquired domestic assets, partially offset by lower production from Argentina as a result of a strike in May and by 19,000 BOE per day lower production caused by higher oil prices affecting our production sharing contracts. Argentina production was impacted by 15,000 BOE per day from the strike which lasted approximately five weeks and also halted all drilling programs. Production is now back at approximately pre-strike levels.

Oxy’s realized price for worldwide crude oil was $110.12 per barrel for the second quarter of 2008, compared with $59.11 per barrel for the second quarter of 2007. Domestic realized gas prices increased from $7.07 per MCF in the second quarter of 2007 to $9.99 per MCF for the second quarter of 2008.

Chemicals

Chemical segment earnings for the second quarter of 2008 were $144 million, compared with $158 million for the same period in 2007. The second quarter of 2008 results reflect lower

volumes and margins for chlorine and polyvinyl chloride, partially offset by higher margins for caustic soda.

Midstream, Marketing and Other

Midstream segment earnings were $161 million for the second quarter of 2008, compared with $25 million for the second quarter of 2007. The second quarter of 2008 reflects higher pipeline income from Dolphin, which came on line in the second half of 2007, and higher margins in gas processing and marketing. Positive mark to market adjustments also contributed to pipeline and storage earnings during the second quarter of 2008.

SIX MONTHS RESULTS

Net income for the six months of 2008 was $4.143 billion ($5.01 per diluted share), compared with $2.624 billion ($3.11 per diluted share) for the six months of 2007.

Core results were $4.119 billion ($4.98 per diluted share) for the six months of 2008, compared with $1.731 billion ($2.05 per diluted share) for the six months of 2007. See the attached schedule for a reconciliation of net income to core results.

Oil and Gas

Oil and gas segment earnings were $6.694 billion for the six months of 2008, compared with $3.541 billion for the same period of 2007. Oil and gas core results were $2.994 billion for the six months of 2007 after excluding a gain from the sale of Occidental’s Russian joint venture interests of $412 million, a $23 million gain from the sale of other oil and gas interests and $112 million income from the resolution of certain legal disputes. The $3.7 billion increase in the 2008 core results from $2.994 billion in 2007 reflected $3.8 billion from higher crude oil and natural gas prices, increased oil and gas production and lower exploration expense, partially offset by higher operating expenses and increased DD&A rates.

Daily oil and gas production for the first six months was 598,000 BOE per day for 2008, compared with 559,000 BOE per day for the same 2007 period. The nearly 7-percent increase was largely the result of 50,000 BOE per day from the Dolphin project and 7,000 BOE from recently acquired domestic assets, partially offset by 14,000 BOE per day from production sharing contracts, where volumes decrease with higher oil prices, and 7,000 BOE per day decrease in Argentina due to the strike.

Oxy’s realized price for worldwide crude oil was $98.16 per barrel for the six months of 2008, compared with $55.34 per barrel for the six months of 2007. Domestic realized gas prices increased from $6.74 per MCF in the six months of 2007 to $9.09 per MCF in the six months of 2008.

Chemicals

Chemical segment earnings were $323 million for the six months of 2008, compared with $295 million for the six months of 2007. The six months 2008 results reflect higher margins for caustic soda, partially offset by lower margins for polyvinyl chloride.

Midstream, Marketing and Other

Midstream segment earnings were $284 million for the six months of 2008, compared with $143 million for the same period in 2007. The improvement in 2008 reflected higher pipeline income from the Dolphin Pipeline and higher margins in gas processing and power generation.

Forward-Looking Statements

Statements in this release that contain words such as “will,” “expect” or “estimate,” or otherwise relate to the future, are forward-looking and involve risks and uncertainties that could significantly affect expected results. Factors that could cause results to differ materially include, but are not limited to: exploration risks, such as drilling of unsuccessful wells; global commodity pricing fluctuations and supply/demand considerations for oil, gas and chemicals; higher-than-expected costs; political risk; operational interruptions; changes in tax rates and not successfully completing (or any material delay in) any expansion, capital expenditure, acquisition, or disposition. You should not place undue reliance on these forward-looking statements which speak only as of the date of this release. Unless legally required, Occidental does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise. U.S. investors are urged to consider carefully the disclosure in our Form 10-K, available through the following toll-free telephone number, 1-888-OXYPETE (1-888-699-7383) or on the Internet at http://www.oxy.com. You also can obtain a copy from the SEC by calling 1-800-SEC-0330.

SUMMARY OF SEGMENT NET SALES AND EARNINGS

(Millions, except	Second Quarter						Six Months
per-share amounts)	2008			2007			2008			2007
SEGMENT NET SALES
Oil and Gas	$	5,501		$	3,061		$	10,019		$	5,781
Chemical	1,386			1,229			2,653			2,289
Midstream, Marketing and Other	418			280			823			638
Eliminations	(189		)	(159		)	(359		)	(282		)
Net sales	$	7,116		$	4,411		$	13,136		$	8,426
SEGMENT EARNINGS
Oil and Gas (a)	$	3,806		$	1,658		$	6,694		$	3,541
Chemical	144			158			323			295
Midstream, Marketing and Other	161			25			284			143
	4,111			1,841			7,301			3,979
Unallocated Corporate Items
Interest expense, net (b)	(7		)	6			(7		)	(175		)
Income taxes	(1,671		)	(904		)	(2,965		)	(1,588		)
Other (c)	(133		)	202			(210		)	98

Income from Continuing Operations	2,300			1,145			4,119			2,314
Discontinued operations, net (d)	(3		)	267			24			310

NET INCOME	$	2,297		$	1,412		$	4,143		$	2,624

BASIC EARNINGS PER COMMON SHARE
Income from continuing operations	$	2.80		$	1.36		$	5.01		$	2.76
Discontinued operations, net (d)	--			0.32			0.03			0.37
	$	2.80		$	1.68		$	5.04		$	3.13

DILUTED EARNINGS PER COMMON SHARE
Income from continuing operations	$	2.78		$	1.36		$	4.98		$	2.74
Discontinued operations, net (d)	--			0.32			0.03			0.37
	$	2.78		$	1.68		$	5.01		$	3.11

AVERAGE COMMON SHARES OUTSTANDING
BASIC	821.3			837.7			822.5			839.3
DILUTED	825.5			841.8			826.9			843.2

See footnotes on following page.

(a) Oil and Gas – The second quarter of 2007 includes a pre-tax gain from the sale of oil and gas interests. The six months of 2007 also includes after-tax gains of $412 million from the sale of Occidental’s Russian joint venture interests and $112 million resulting from the resolution of certain legal disputes.

(b) Interest Expense, net –The first six months of 2007 includes $167 million of pre-tax interest charges for the purchase of various debt issues in the open market.

(c) Unallocated Corporate Items - Other – The second quarter of 2007 includes a $284 million pre-tax gain from the sale of Lyondell shares. The first six months of 2007 also includes a $47 million pre-tax charge for a plant closure and related environmental remediation reserve.

(d) Discontinued Operations, net – In the first half of 2008, Occidental received payment from Ecuador for tax refunds. In 2007, Occidental completed an exchange of oil and gas interests in Horn Mountain with BP p.l.c. (BP) for oil and gas interests in the Permian Basin and a gas processing plant in Texas. Occidental also sold its oil and gas interests in Pakistan to BP.

SUMMARY OF CAPITAL EXPENDITURES AND DD&A EXPENSE

	Second Quarter				Six Months
($ millions)	2008		2007		2008		2007
CAPITAL EXPENDITURES	$	1,116	$	850	$	1,984	$	1,630

DEPRECIATION, DEPLETION AND AMORTIZATION OF ASSETS	$	621	$	564	$	1,274	$	1,138

SUMMARY OF OPERATING STATISTICS

	Second Quarter				Six Months
	2008		2007		2008		2007
NET OIL, GAS AND LIQUIDS PRODUCTION PER DAY
United States
Crude Oil and Liquids (MBBL)
California	84		93		86		89
Permian	169		163		170		164
Midcontinent and Rockies	5		3		4		4
Total	258		259		260		257
Natural Gas (MMCF)
California	238		268		241		250
Permian	190		187		184		192
Midcontinent and Rockies	174		154		166		152
Total	602		609		591		594
Latin America
Crude Oil (MBBL)
Argentina	22		34		29		33
Colombia	43		44		43		43
Total	65		78		72		76
Natural Gas (MMCF)
Argentina	14		28		18		25
Bolivia	21		18		21		16
Total	35		46		39		41
Middle East/North Africa
Crude Oil and Liquids (MBBL)
Oman	21		19		20		21
Dolphin	19		--		20		--
Qatar	45		47		46		46
Yemen	20		25		23		28
Libya	27		19		23		23
Total	132		110		132		118
Natural Gas (MMCF)
Oman	25		32		23		29
Dolphin	163		--		182		--
Total	188		32		205		29
Barrels of Oil Equivalent (MBOE)
Subtotal consolidated subsidiaries	593		561		603		562
Colombia-minority interest	(7	)	(6	)	(7	)	(6	)
Yemen-Occidental net interest	2		3		2		3
Total Worldwide Production-MBOE	588		558		598		559

SIGNIFICANT TRANSACTIONS AND EVENTS AFFECTING EARNINGS

Occidental’s results of operations often include the effects of significant transactions and events affecting earnings that vary widely and unpredictably in nature, timing and amount. Therefore, management uses a measure called “core results,” which excludes those items. This non-GAAP measure is not meant to disassociate those items from management’s performance, but rather is meant to provide useful information to investors interested in comparing Occidental’s earnings performance between periods. Reported earnings are considered representative of management’s performance over the long term. Core results is not considered to be an alternative to operating income in accordance with generally accepted accounting principles.

SIGNIFICANT TRANSACTIONS AND EVENTS AFFECTING EARNINGS

	Second Quarter
($ millions, except				Diluted					Diluted
per-share amounts)	2008			EPS		2007			EPS
TOTAL REPORTED EARNINGS	$	2,297		$	2.78	$	1,412		$	1.68
Oil and Gas
Segment Earnings	$	3,806				$	1,658
Less:
Gain on sale of oil & gas interests	--					23
Legal settlements**	--					3
Segment Core Results	3,806					1,632
Chemicals
Segment Earnings	144					158
Less:
No significant items affecting earnings	--					--
Segment Core Results	144					158

Midstream, marketing and other
Segment Earnings	161					25
Less:
No significant items affecting earnings	--					--
Segment Core Results	161					25
Total Segment Core Results	4,111					1,815
Corporate
Corporate Results -- Non Segment*	(1,814		)			(429		)
Less:
Debt purchase expense	--					5
Gain on sale of Lyondell shares	--					284
Tax effect of pre-tax adjustments	--					(113		)
Discontinued operations, net**	(3		)			267
Corporate Core Results -- Non Segment	(1,811		)			(872		)
TOTAL CORE RESULTS	$	2,300		$	2.79	$	943		$	1.12

*Interest expense, income taxes, G&A expense and other, and non-core items.

**Amounts shown after tax.

SIGNIFICANT TRANSACTIONS AND EVENTS AFFECTING EARNINGS (continued)

	Six Months
($ millions, except				Diluted					Diluted
per-share amounts)	2008			EPS		2007			EPS
TOTAL REPORTED EARNINGS	$	4,143		$	5.01	$	2,624		$	3.11
Oil and Gas
Segment Earnings	$	6,694				$	3,541
Less:
Gain on sale of oil & gas interests	--					23
Russia joint venture**	--					412
Legal settlements**	--					112
Segment Core Results	6,694					2,994
Chemicals
Segment Earnings	323					295
Less:
No significant items affecting earnings	--					--
Segment Core Results	323					295
Midstream, marketing and other
Segment Earnings	284					143
Less:
No significant items affecting earnings	--					--
Segment Core Results	284					143
Total Segment Core Results	7,301					3,432
Corporate
Corporate Results -- Non Segment*	(3,158		)			(1,355		)
Less:
Debt purchase expense	--					(167		)
Facility closure	--					(47		)
Gain on sale of Lyondell shares	--					284
Tax effect of pre-tax adjustments	--					(34		)
Discontinued operations, net**	24					310
Corporate Core Results -- Non Segment	(3,182		)			(1,701		)
TOTAL CORE RESULTS	$	4,119		$	4.98	$	1,731		$	2.05

*Interest expense, income taxes, G&A expense and other, and non-core items.

**Amounts shown after tax.

Section 9 – Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

99.1 Press release dated July 24, 2008.

99.2 Full text of speeches given by Dr. Ray R. Irani and Stephen I. Chazen.

99.3 Investor Relations Supplemental Schedules.

99.4 Earnings Conference Call Slides.

99.5 Forward-Looking Statements Disclosure for Earnings Release Presentation Materials.

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 24, 2008	/s/ JIM A. LEONARD
	Jim A. Leonard, Vice President and Controller (Principal Accounting and Duly Authorized Officer)

EXHIBIT INDEX

99.1		Press release dated July 24, 2008.

99.2		Full text of speeches given by Dr. Ray R. Irani and Stephen I. Chazen.

99.3		Investor Relations Supplemental Schedules.

99.4		Earnings Conference Call Slides.

99.5		Forward-Looking Statements Disclosure for Earnings Release Presentation Materials.

Exhibit 99.1

Occidental Petroleum Corporation

10889 Wilshire Boulevard
Los Angeles, California 90024-4201
310.208.8800
www.oxy.com

For Immediate Release: July 24, 2008

Occidental Petroleum Announces Record Net Income for Second Quarter and First Six Months of 2008

LOS ANGELES, July 24, 2008 -- Occidental Petroleum Corporation (NYSE: OXY) announced net income of $2.297 billion ($2.78 per diluted share) for the second quarter of 2008, compared with $1.412 billion ($1.68 per diluted share) for the second quarter of 2007.

In announcing the results, Dr. Ray R. Irani, Chairman and Chief Executive Officer, said, “Oxy’s record net income for the second quarter of 2008 beat the previous record set during the first quarter of 2008 by 24 percent. Occidental’s first six months of 2008 net income was 58 percent higher than our previous record first six month income achieved in 2007.

“Our production grew by 5 percent for the second quarter, and nearly 7 percent for the first six months compared to last year, and we plan to increase capital expenditures to $4.7 billion in 2008 to accelerate growth. The additional capital funds will be used to drill and recomplete approximately 400 wells, mainly in California, Texas and Colorado, as well as in Argentina, Colombia and Libya.”

QUARTERLY RESULTS

Oil and Gas

gas production and lower exploration expense, partially offset by increased DD&A rates and higher operating expenses.

Chemicals

Chemical segment earnings for the second quarter of 2008 were $144 million, compared with $158 million for the same period in 2007. The second quarter of 2008 results reflect lower volumes and margins for chlorine and polyvinyl chloride, partially offset by higher margins for caustic soda.

Midstream, Marketing and Other

SIX MONTHS RESULTS

Net income for the six months of 2008 was $4.143 billion ($5.01 per diluted share), compared with $2.624 billion ($3.11 per diluted share) for the six months of 2007.

Oil and Gas

Chemicals

Chemical segment earnings were $323 million for the six months of 2008, compared with $295 million for the six months of

2007. The six months 2008 results reflect higher margins for caustic soda, partially offset by lower margins for polyvinyl chloride.

Midstream, Marketing and Other

About Oxy

Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Oxy is the fourth largest U.S. oil and gas company, based on equity market capitalization. Oxy’s wholly owned subsidiary, OxyChem, manufactures and markets chlor-alkali products and vinyls. Occidental is committed to safeguarding the environment, protecting the safety and health of employees and neighboring communities and upholding high standards of social responsibility in all of the company’s worldwide operations.

Forward-Looking Statements

are urged to consider carefully the disclosure in our Form 10-K, available through the following toll-free telephone number, 1-888-OXYPETE (1-888-699-7383) or on the Internet at http://www.oxy.com. You also can obtain a copy from the SEC by calling 1-800-SEC-0330.

- 0 -

Contacts:	Richard S. Kline (media)
	richard_kline@oxy.com
	310-443-6249

	Chris Stavros (investors)
	chris_stavros@oxy.com
	212-603-8184

	For further analysis of Occidental’s quarterly
	performance, please visit the web site:
	www.oxy.com

SUMMARY OF SEGMENT NET SALES AND EARNINGS

(Millions, except	Second Quarter						Six Months
per-share amounts)	2008			2007			2008			2007
SEGMENT NET SALES
Oil and Gas	$	5,501		$	3,061		$	10,019		$	5,781
Chemical	1,386			1,229			2,653			2,289
Midstream, Marketing and Other	418			280			823			638
Eliminations	(189		)	(159		)	(359		)	(282		)
Net sales	$	7,116		$	4,411		$	13,136		$	8,426
SEGMENT EARNINGS
Oil and Gas (a)	$	3,806		$	1,658		$	6,694		$	3,541
Chemical	144			158			323			295
Midstream, Marketing and Other	161			25			284			143
	4,111			1,841			7,301			3,979
Unallocated Corporate Items
Interest expense, net (b)	(7		)	6			(7		)	(175		)
Income taxes	(1,671		)	(904		)	(2,965		)	(1,588		)
Other (c)	(133		)	202			(210		)	98

Income from Continuing Operations	2,300			1,145			4,119			2,314
Discontinued operations, net (d)	(3		)	267			24			310
NET INCOME	$	2,297		$	1,412		$	4,143		$	2,624
BASIC EARNINGS PER COMMON SHARE
Income from continuing operations	$	2.80		$	1.36		$	5.01		$	2.76
Discontinued operations, net (d)	--			0.32			0.03			0.37
	$	2.80		$	1.68		$	5.04		$	3.13
DILUTED EARNINGS PER COMMON SHARE
Income from continuing operations	$	2.78		$	1.36		$	4.98		$	2.74
Discontinued operations, net (d)	--			0.32			0.03			0.37
	$	2.78		$	1.68		$	5.01		$	3.11
AVERAGE COMMON SHARES OUTSTANDING
BASIC	821.3			837.7			822.5			839.3
DILUTED	825.5			841.8			826.9			843.2

See footnotes on following page.

(a) Oil and Gas - - The second quarter of 2007 includes a pre-tax gain from the sale of oil and gas interests. The six months of 2007 also includes after-tax gains of $412 million from the sale of Occidental’s Russian joint venture interests and $112 million resulting from the resolution of certain legal disputes.

(b) Interest Expense, net - -The first six months of 2007 includes $167 million of pre-tax interest charges for the purchase of various debt issues in the open market.

(c) Unallocated Corporate Items - Other - - The second quarter of 2007 includes a $284 million pre-tax gain from the sale of Lyondell shares. The first six months of 2007 also includes a $47 million pre-tax charge for a plant closure and related environmental remediation reserve.

(d) Discontinued Operations, net - - In the first half of 2008, Occidental received payment from Ecuador for tax refunds. In 2007, Occidental completed an exchange of oil and gas interests in Horn Mountain with BP p.l.c. (BP) for oil and gas interests in the Permian Basin and a gas processing plant in Texas. Occidental also sold its oil and gas interests in Pakistan to BP.

SUMMARY OF CAPITAL EXPENDITURES AND DD&A EXPENSE

	Second Quarter				Six Months
($ millions)	2008		2007		2008		2007
CAPITAL EXPENDITURES	$	1,116	$	850	$	1,984	$	1,630
DEPRECIATION, DEPLETION AND AMORTIZATION OF ASSETS	$	621	$	564	$	1,274	$	1,138

SUMMARY OF OPERATING STATISTICS

	Second Quarter				Six Months
	2008		2007		2008		2007
NET OIL, GAS AND LIQUIDS PRODUCTION PER DAY
United States
Crude Oil and Liquids (MBBL)
California	84		93		86		89
Permian	169		163		170		164
Midcontinent and Rockies	5		3		4		4
Total	258		259		260		257
Natural Gas (MMCF)
California	238		268		241		250
Permian	190		187		184		192
Midcontinent and Rockies	174		154		166		152
Total	602		609		591		594
Latin America
Crude Oil (MBBL)
Argentina	22		34		29		33
Colombia	43		44		43		43
Total	65		78		72		76
Natural Gas (MMCF)
Argentina	14		28		18		25
Bolivia	21		18		21		16
Total	35		46		39		41
Middle East/North Africa
Crude Oil and Liquids (MBBL)
Oman	21		19		20		21
Dolphin	19		--		20		--
Qatar	45		47		46		46
Yemen	20		25		23		28
Libya	27		19		23		23
Total	132		110		132		118
Natural Gas (MMCF)
Oman	25		32		23		29
Dolphin	163		--		182		--
Total	188		32		205		29
Barrels of Oil Equivalent (MBOE)
Subtotal consolidated subsidiaries	593		561		603		562
Colombia-minority interest	(7	)	(6	)	(7	)	(6	)
Yemen-Occidental net interest	2		3		2		3
Total Worldwide Production-MBOE	588		558		598		559

SIGNIFICANT TRANSACTIONS AND EVENTS AFFECTING EARNINGS

	Second Quarter
($ millions, except				Diluted					Diluted
per-share amounts)	2008			EPS		2007			EPS
TOTAL REPORTED EARNINGS	$	2,297		$	2.78	$	1,412		$	1.68
Oil and Gas
Segment Earnings	$	3,806				$	1,658
Less:
Gain on sale of oil & gas interests	--					23
Legal settlements**	--					3
Segment Core Results	3,806					1,632
Chemicals
Segment Earnings	144					158
Less:
No significant items affecting earnings	--					--
Segment Core Results	144					158

Midstream, marketing and other
Segment Earnings	161					25
Less:
No significant items affecting earnings	--					--
Segment Core Results	161					25
Total Segment Core Results	4,111					1,815
Corporate
Corporate Results --
Non Segment*	(1,814		)			(429		)
Less:
Debt purchase expense	--					5
Gain on sale of Lyondell shares	--					284
Tax effect of pre-tax adjustments	--					(113		)
Discontinued operations, net**	(3		)			267
Corporate Core Results --
Non Segment	(1,811		)			(872		)
TOTAL CORE RESULTS	$	2,300		$	2.79	$	943		$	1.12

* Interest expense, income taxes, G&A expense and other, and non-core items.

** Amounts shown after tax.

SIGNIFICANT TRANSACTIONS AND EVENTS AFFECTING EARNINGS (continued)

	Six Months
($ millions, except				Diluted					Diluted
per-share amounts)	2008			EPS		2007			EPS
TOTAL REPORTED EARNINGS	$	4,143		$	5.01	$	2,624		$	3.11
Oil and Gas
Segment Earnings	$	6,694				$	3,541
Less:
Gain on sale of oil & gas interests	--					23
Russia joint venture**	--					412
Legal settlements**	--					112
Segment Core Results	6,694					2,994
Chemicals
Segment Earnings	323					295
Less:
No significant items affecting earnings	--					--
Segment Core Results	323					295

Midstream, marketing and other
Segment Earnings	284					143
Less:
No significant items affecting earnings	--					--
Segment Core Results	284					143
Total Segment Core Results	7,301					3,432
Corporate
Corporate Results --
Non Segment*	(3,158		)			(1,355		)
Less:
Debt purchase expense	--					(167		)
Facility closure	--					(47		)
Gain on sale of Lyondell shares	--					284
Tax effect of pre-tax adjustments	--					(34		)
Discontinued operations, net**	24					310
Corporate Core Results --
Non Segment	(3,182		)			(1,701		)
TOTAL CORE RESULTS	$	4,119		$	4.98	$	1,731		$	2.05

* Interest expense, income taxes, G&A expense and other, and non-core items.

** Amounts shown after tax.

Exhibit 99.2

Occidental Petroleum Corporation

DR. RAY R. IRANI

Chairman and Chief Executive Officer

-Conference Call-

Second Quarter 2008 Earnings Announcement

July 24, 2008

Los Angeles, California

Thank you, Chris.

Good morning ladies and gentlemen, and thank you for joining us.

Today we are pleased to announce a record second quarter, with net income of $2.3 billion – a 63-percent increase compared to the second quarter of 2007. Net income for the first six months of 2008 was $4.1 billion, an increase of 58 percent over the comparable six-month period last year.

These results reflect not only the strong oil and natural gas prices which have generally benefited the industry, but also increased production across Oxy’s operations. Comparing the first six months of this year to the first six months of 2007, our total worldwide production has increased by about 7 percent, to an average daily production of 598,000 BOE per day – despite a labor dispute in Argentina during May, which is now settled.

Very shortly, Steve Chazen will discuss our results in more detail. But first, I would like to mention some recent developments that will enable us to further expand our worldwide production and create additional value for Oxy’s stockholders.

As most of you are aware, the majority of Oxy’s production is in the United States, which last year provided 63 percent of our total production and 75 percent of our proved reserves. We are the leading oil producer in the Permian Basin in southwest Texas and southeast New Mexico, with production at a rate of nearly 200,000 barrels of oil equivalent per day. In addition, we are the largest natural gas

producer and the third-largest oil producer in California, where our current net total production averages 126,000 BOE per day.

And, we intend to strengthen Oxy’s North America position even further. Consequently, we are making a significant effort to increase our North America production with strategic acquisitions and increased drilling. In the coming months, we will increase our 2008 capital expenditures budget to a total of $4.7 billion. This year we plan on drilling and recompleting approximately 400 wells located in each of our key business areas throughout the United States: the Permian Basin in Texas and New Mexico, the Piceance Basin in northwest Colorado, our California operations, as well as in Argentina, Colombia and Libya.

A primary means of increasing production is through enhanced oil recovery, including carbon dioxide flooding, in which Oxy is an industry leader. We are now able to apply this technology to wells, which at lower oil prices, previously were not economical to operate with EOR techniques.

To that end, as announced last month, we will develop a hydrocarbon gas processing plant and related pipeline infrastructure in West Texas that will provide a new source of CO2 for enhanced oil recovery at our existing properties in the Permian Basin. The project is expected to add approximately 500 million barrels to our industry-leading reserves in the Permian over the next five years, at an attractive cost, all from assets we currently own. We project the new CO2 resources from SandRidge Energy will enable us to expand production in the Permian by a minimum of 50,000 barrels of oil per day within the next five years.

Adding further to our North American assets, last month, we agreed to purchase a 15-percent interest in the Total-operated Joslyn Oil Sands Project in Alberta, Canada. As you may know, this is one of the premier oil sands projects in the world, with over 8 billion barrels of hydrocarbons in place. We estimate recoverable reserves net to Oxy to be about 370 million barrels. We expect to

spend approximately $2 billion over a number of years to develop these reserves, with production targeted to begin in 2014.

While we are emphasizing Oxy’s North America operations, we continue to pursue opportunities in the Middle East and North Africa that meet our stringent standards for financial return.

Last month I joined with officials from the Libya National Oil Company to formally sign new 30-year agreements, upgrading our existing petroleum contracts in Libya, covering fields with approximately 2.5 billion barrels of recoverable high-quality oil reserves. Oxy will play a key role in enabling Libya to achieve its goal of doubling oil production to more than 3 million barrels per day in the near future.

Also significant for Oxy’s continued potential growth in the Middle East/North Africa region is our pre-qualification by the government of Iraq to participate in discussions to develop a number of that country’s most prolific oil fields. As you are aware, development of these massive fields is a critical engine of growth for the Iraqi national economy. Depending on the security situation in Iraq, there is a possibility of projects being finalized by late next year.

With the first two quarters of 2008 now concluded, we are pleased with Oxy’s success and growth. In light of the excellent additions to our asset portfolio and promising projects in the pipeline, we expect 2008 to be another outstanding year for Oxy.

I’ll now turn the call over to Steve Chazen.

Occidental Petroleum Corporation

STEPHEN CHAZEN

President and Chief Financial Officer

– Conference Call –

Second Quarter 2008 Earnings Announcement

July 24, 2008

Los Angeles, California

Thank you Ray.

Core results for the quarter were a record $2.3 billion, or $2.79 per diluted share, compared to $943 million, or $1.12 per diluted share in the second quarter of 2007. The second quarter record core results beat the previous record set in the first quarter of 2008 by 26 percent.

Here’s the segment breakdown for the second quarter.

Oil and gas second quarter 2008 segment earnings were $3.806 billion, compared to $1.658 billion for the second quarter of 2007. Oil and gas core results for the second quarter of 2007 were $1.632 billion, after excluding a gain from the sale of oil and gas interests. The following accounted for the increase in oil and gas earnings between these quarters:

· Higher worldwide oil and gas price realizations resulted in an increase of $2.2 billion of earnings over the comparable period in 2007. Occidental’s average realized crude oil price in the 2008 second quarter was $110.12 per barrel, an increase of 86 percent

from the comparable period in 2007. Oxy’s domestic average realized gas price for the quarter was $9.99 per mcf, compared with $7.07 per mcf for the second quarter 2007.

· Worldwide oil and gas production for the second quarter of 2008 averaged 588,000 barrels of oil equivalent per day, an increase of over 5 percent, compared with 558,000 BOE production in the second quarter of last year. The bulk of the production improvement was the result of 46,000 BOE per day from the Dolphin project which began production in the third quarter of 2007 and from the recently acquired domestic assets, partially offset by 15,000 BOE per day lower volumes from our Argentina operations due to a strike in the Santa Cruz province in May 2008, which I will discuss later, and lower production of 19,000 BOE per day caused by higher oil prices affecting our production sharing contracts.

· Dolphin contributed $101 million to after-tax income during the second quarter on sales volumes of 46,000 BOE per day. Dolphin’s sales volumes decreased from the first quarter of 2008 due to the effect of higher prices on our production sharing contracts which have reached the cost recovery ceiling for this year.

· Exploration expense was $58 million in the quarter.

Oil and gas cash production costs for the first six months of 2008 were $14.08 a barrel compared to last year’s costs of $12.33 a barrel. Approximately 47 percent of the increase is related to increased energy costs. The increases reflected higher production and ad valorem taxes and field operating costs. In the back half of the year we are boosting our

expensed workover activity by 65 percent in order to increase production in a high price environment.

Chemical segment earnings for the second quarter of 2008 were $144 million. Chemicals earned $158 million in last year’s second quarter.

Midstream segment earnings for the second quarter of 2008 were $161 million, an increase of $136 million from the second quarter of 2007 results. The improvement was due to higher pipeline income from Dolphin, higher NGL margins in the gas processing business and improved margins on the marketing side. Positive mark to market adjustments also contributed to pipeline and storage earnings during the second quarter of 2008.

The worldwide effective tax rate was 42 percent for the second quarter of 2008, in line with our prior guidance.

Let me now turn to Occidental’s performance during the first six months.

Net income was $4.143 billion, or $5.01 per diluted share for the first six months of 2008, compared with $2.624 billion, or $3.11 per diluted share for the same period of 2007. The six months 2008 reported net income was another record and was 58 percent higher than the first six months of 2007 net income, the former record. Income for the first six months of 2007 included $893 million, net of tax for the items noted on the schedule reconciling net income to core results.

Capital spending was $1.1 billion for the quarter and $2.0 billion for the first six months.

Cash flow from operations for the six months was $5.0 billion. We used $2.0 billion of the company’s cash flow to fund capital expenditures, $2.3 billion for acquisitions, which included $450 million for the Libya contract bonus payments, and $415 million to pay dividends. We spent

$860 million to repurchase 11.1 million common shares at an average price of $77.82 per share. These and other net cash outflows decreased our $2.0 billion cash balance at the end of last year by $500 million to $1.5 billion at June 30. Debt was $1.8 billion at the end of June, which was unchanged from December 31, 2007.

The weighted average basic shares outstanding for the six months were 822.5 million and the weighted average diluted shares outstanding were 826.9 million. At June 30, there were 818.1 million basic shares outstanding and the diluted share amount was approximately 822.4 million. The Board authorized repurchase of an additional 20 million shares, which brings the remaining share repurchase authorization to 35.2 million shares.

Oxy’s 2008 annualized return on equity was 35 percent, with annualized return on capital employed of 32 percent.

As we look ahead in the current quarter:

With regard to prices –

· A $1.00 per barrel change in oil prices impacts oil and gas quarterly earnings before income taxes by about $37 million. This sensitivity includes the impact of Dolphin. Also included is the production sharing contract price impact of approximately 300 barrels per day.

· A swing of 50-cents per million BTUs in domestic gas prices has a $25 million impact on quarterly earnings before income taxes.

Additionally –

· We expect exploration expense to be about $90 to $110 million for seismic and drilling for our exploration programs.

· We expect chemical segment earnings for the third quarter to be similar to the second quarter results with a range of $135 to $150

million. Weakness in the construction and housing markets continues to impact domestic demand while higher feedstock and energy costs have reduced margins. These factors have been partially offset by higher caustic soda prices and higher polyvinyl export volumes. Despite difficult economic conditions and concerns over export opportunities over the balance of the year, we believe this range of earnings is likely.

· We expect our combined worldwide tax rate in the third quarter, to remain at about 42 percent. Our second quarter U. S. and foreign tax rates are included in the “Investor Relations Supplemental Schedule”.

Capital Spending Programs

We are increasing our 2008 capital spending estimate to $4.7 Billion, which is an increase of $700 Million, or 17%. This additional money will be used to drill 254 additional new wells and complete 145 additional capital workovers. Overall, this represents a 16% increase in new wells and a 12% increase in capital workovers. A schedule detailing this increased capital activity in 2008 is included in the “Investor Relations Slides.”

The majority of the activity will be in California where we are adding 6 additional drilling rigs. We will be expanding our rig fleet in the Elk Hills area by 5, drilling an additional 100 wells, mostly in shallow zones. We have added 50 capital workovers to our activity in the second half of the year. We are doubling the exploration wells in the Elk Hills area to 20. In other California areas we are expanding existing developments -- primary, waterflood and steamflood.

We are also adding 6 drilling rigs in Latin America where in Argentina, we will be increasing drilling to offset the impact of the recent strike, during which we could not engage in any drilling activity. We are also carrying out an extensive workover program in Argentina. In Colombia we are expanding our drilling in the La Cira Infantas field.

In the Middle East/North Africa, additional wells are being drilled in the Masila area fields in Yemen. In Libya, we will be drilling four additional exploratory wells, three of which are under the new contract.

Finally, we are increasing our Midstream spending, primarily for the construction of the new West Texas gas processing plant and related pipeline which was announced at the end of June.

As we look at future production:

We expect oil and gas production to be in the range of 590,000 to 600,000 BOE per day during the third quarter, at approximately $125 WTI price. The strike in Argentina’s Santa Cruz province lasted approximately five weeks and resulted in a complete shut in of all production and drilling activities in that region. Production is back to approximately pre-strike levels. In addition, drilling activity is expected to increase in the second half of the year with additional rigs that are being deployed. As a result, the Argentine production is expected to increase by approximately 19,000 BOE per day from the second quarter levels. Libya’s production is expected to be 8,000 BOE per day in the third quarter, with liftings of approximately 5,000 BOE per day. The new contract terms reduce the Company’s share of production, offset by a reduction in tax rates, which result in more favorable economic terms. Other operations are expected to have a net increase in production.

Shown in the “Investor Relations Slides” is a table which provides a daily production forecast using the first six months of this year as a base. Production is expected to be 610,000 BOE per day in the second half of 2008 and total growth in 2008 will be 6%. Due to higher prices, we’ve lost 13,000 BOE per day versus our initial $80 WTI outlook from production sharing contracts. Production is expected to be 650,000 BOE per day in 2009 and 705,000 BOE per day in 2010. Our growth rate for 2009 is 8% and 8% for 2010. The cumulative average growth rate is 7.3% for the 3-year period.

These estimates are all based on a WTI price of $111, consistent with the first six months of 2008. At this price level, for every $5 change in WTI price, production will be inversely impacted by approximately 1,500 BOE/Day.

Recognizing the potential for fluctuations in project timing, we expect a range of 600,000 to 620,000 BOE per day in the last six months of 2008, 640,000 to 670,000 BOE per day in 2009 and 690,000 to 720,000 BOE per day in 2010.

We expect to increase production by expanding our drilling program in Elk Hills and surrounding areas, in plays such as the Antelope Shale and deeper pay zones where we have had recent exploration successes. We are also planning various enhanced oil recovery projects such as the expansion of the successful Eastern Shallow Oil Zone waterflood.

In Ventura County, we have an active drilling and exploitation program in a deeper pay horizon beneath an existing successful waterflood, which is also being enhanced.

In the Wilmington field in Long Beach, we are planning to drill several delineation wells as a follow-up to a deeper exploration success.

In the Midcontinent/Rockies, we expect to double our gas production exit rate in the Piceance Basin by the end of the year from the current levels of 40 MMCFD to 80 MMCFD as a result of the 2008 drilling program and to 100 MMCFD in 2009 through our expanded development program. In conjunction with the increased production, we are retro-fitting our Conn Creek gas plant and compression facility to double its capacity to 80 MMCFD by year end and to increase it to 100 MMCFD in 2009. We currently have 40 MMCFD gas transportation capacity out of the Rockies. Based on contracts in place, we will increase this capacity to 100 MMCFD and expect to finalize agreements for an additional 50 MMCFD for 2011. Our joint venture with Plains is also expanding its drilling activity in the Piceance Basin, which should increase production from the current rate of 26 MMCFD to 36 MMCFD by the end of the year and to 44 MMCFD average rate by 2010. In addition, we are pursuing oil exploration activity in Utah that we expect will add to production in that region.

In the Permian Basin, our ongoing drilling program is being accelerated around several plays to take advantage of the exploitation opportunities from acquisitions over the past year. We are planning to expand our workover activity significantly by increasing our service rigs from 155 to 175 within the next year. We are increasing our CO2 flood program through additional resources from Bravo Dome, which, together with the drilling program and the workover activity, is expected to increase our production over the next two years by approximately 10,000 barrels per day. By 2010 we should also start seeing a positive impact on our production from additional CO2 resources as a result of the recently announced SandRidge transaction, which will enable us to increase our

production by a minimum of 50,000 barrels of oil per day over the next five years.

In Latin America, our near field exploration program in Argentina continues to be successful, which has enabled us to identify multiple new drilling locations in addition to those in our current program. We expect to achieve significant production growth by expanding our drilling in these and other areas with the addition of five high performance rigs. In Colombia, we expect that growth in La Cira Infantas will largely offset the natural decline in Cano Limon.

Moving to the Middle East/North Africa, in Dolphin, the higher prices and success realized to date have resulted in a very rapid pace of cost recovery. Consequently, at the $111 oil price, we will realize fewer barrels of production going into the future.

Libya’s net production will decline as a result of the new contract, which took effect at the end of the second quarter. Based on current pricing, we expect earnings to increase 2 to 3 times under the new contract. However, as a result of our increased capital development program, production will increase over the next five years to the former levels. In Oman, development efforts in the giant Mukhaizna steam flood project are on track and we expect to exit 2008 at a gross level of approximately 50,000 barrels per day. Large scale drilling activity in the range of 200 wells per year, coupled with the introduction of multiple water treatment facilities to supply the steam generators, will allow us to increase gross production to the range of 80,000 barrels per day by year end 2009 and 115,000 barrels per day by year end 2010. We expect our net production in Oman to double by 2010 to around 54,000 barrels per day.

In Qatar, we have agreed with the Government on a third phase development plan for the ISND Field. This phase entails about 70 low risk, infill drilling projects, as well as further platform and pipeline enhancements over the 2008–2010 timeframe. A third drilling rig has recently been added to perform a large number of rate enhancing work-over projects in ISND, and further development drilling activity is expected in the Al-Rayyan Field beginning in late 2008 / early 2009. We expect these significant additional development activities to increase OXY’s net production in Qatar by as much as 20% by 2010 over 2008 levels. Yemen’s production reflects a base decline in the Masila field.

It is important to note that this forecast is based on existing projects and does not contemplate any new projects or future acquisitions.

· Copies of the press release announcing our second quarter earnings and the Investor Relations Supplemental Schedules are available on our website www.oxy.com or through the SEC’s EDGAR system.

Now we’re ready to take your questions.

Exhibit 99.3

Investor Relations Supplemental Schedules

Investor Relations Supplemental Schedules

Summary

($ Millions)

	2Q 2008	2Q 2007

Reported Net Income	$2,297	$1,412
EPS - Diluted	$2.78	$1.68

Core Results	$2,300	$943
EPS - Diluted	$2.79	$1.12

Total Worldwide Production (mboe/day)	588	558

Total Worldwide Crude Oil Realizations ($/BBL)	$110.12	$59.11
Domestic Natural Gas Realizations ($/MCF)	$9.99	$7.07

Wtd. Average Basic Shares O/S (mm)	821.3	837.7
Wtd. Average Diluted Shares O/S (mm)	825.5	841.8

	YTD 2008	YTD 2007

Reported Net Income	$4,143	$2,624
EPS - Diluted	$5.01	$3.11

Core Results	$4,119	$1,731
EPS - Diluted	$4.98	$2.05

Total Worldwide Production (mboe/day)	598	559

Total Worldwide Crude Oil Realizations ($/BBL)	$98.16	$55.34
Domestic Natural Gas Realizations ($/MCF)	$9.09	$6.74

Wtd. Average Basic Shares O/S (mm)	822.5	839.3
Wtd. Average Diluted Shares O/S (mm)	826.9	843.2

Shares Outstanding (mm)	817.1	830.7

Cash Flow from Operations	$5,000	$2,900

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2008 Second Quarter

Net Income (Loss)

($ millions)

	Reported						Core
	Income			Significant Items Affecting Income			Results
Oil & Gas	$	3,806					$	3,806

Chemical	144						144

Midstream, marketing and other	161						161

Corporate
Interest expense, net	(7		)				(7		)

Other	(133		)				(133		)

Taxes	(1,671		)				(1,671		)

Income from continuing operations	2,300			-			2,300
Discontinued operations, net of tax	(3		)	3		Discontinued operations, net	-
Net Income	$	2,297		$	3		$	2,300

Basic Earnings Per Common Share
Income from continuing operations	$	2.80
Discontinued operations, net	-
Net Income	$	2.80					$	2.80

Diluted Earnings Per Common Share
Income from continuing operations	$	2.78
Discontinued operations, net	-
Net Income	$	2.78					$	2.79

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2007 Second Quarter

Net Income (Loss)

($ millions)

	Reported Income			Significant Items Affecting Income				Core Results
Oil & Gas	$	1,658		$	(23	)	Sale of oil & gas interests	$	1,632
				(3		)	Legal settlements

Chemical	158							158

Midstream, marketing and other	25							25

Corporate
Interest expense, net	6			(5		)	Debt purchases	1

Other	202			(284		)	Sale of Lyondell shares	(82		)

Taxes	(904		)	113			Tax effect of adjustments	(791		)

Income from continuing operations	1,145			(202		)		943
Discontinued operations, net of tax	267			(267		)	Discontinued operations, net	-
Net Income	$	1,412		$	(469	)		$	943

Basic Earnings Per Common Share
Income from continuing operations	$	1.36
Discontinued operations, net of tax	0.32
Net Income	$	1.68						$	1.13

Diluted Earnings Per Common Share
Income from continuing operations	$	1.36
Discontinued operations, net of tax	0.32
Net Income	$	1.68						$	1.12

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2008 First Six Months

Net Income (Loss)

($ millions)

	Reported Income			Significant Items Affecting Income				Core Results
Oil & Gas	$	6,694						$	6,694

Chemical	323							323

Midstream, marketing and other	284							284

Corporate
Interest expense, net	(7		)					(7		)

Other	(210		)					(210		)

Taxes	(2,965		)					(2,965		)

Income from continuing operations	4,119			-				4,119
Discontinued operations, net of tax	24			(24		)	Discontinued operations, net	-
Net Income	$	4,143		$	(24	)		$	4,119

Basic Earnings Per Common Share
Income from continuing operations	$	5.01
Discontinued operations, net	0.03
Net Income	$	5.04						$	5.01

Diluted Earnings Per Common Share
Income from continuing operations	$	4.98
Discontinued operations, net	0.03
Net Income	$	5.01						$	4.98

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2007 First Six Months

Net Income (Loss)

($ millions)

	Reported Income				Significant Items Affecting Income					Core Results
Oil & Gas		$	3,541			$	(412	)	Sale of Russian operations		$	2,994
						(112		)	Legal settlements
						(23		)	Sale of oil & gas interests
Chemical		295									295

Midstream, marketing and other		143									143

Corporate
Interest expense, net		(175		)		167			Debt purchases		(8		)

Other		98				(284		)	Sale of Lyondell shares		(139		)
						47			Facility closure

Taxes		(1,588		)		34			Tax effect of adjustments		(1,554		)

Income from continuing operations		2,314				(583		)			1,731
Discontinued operations, net of tax		310				(310		)	Discontinued operations, net		-
Net Income		$	2,624			$	(893	)			$	1,731

Basic Earnings Per Common Share
Income from continuing operations		$	2.76
Discontinued operations, net of tax		0.37
Net Income		$	3.13								$	2.06

Diluted Earnings Per Common Share
Income from continuing operations		$	2.74
Discontinued operations, net of tax		0.37
Net Income		$	3.11								$	2.05

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Items Affecting Comparability of Core Results Between Periods

The item(s) below are included in core results and are shown in this table

because they affect the comparability between periods.

Pre-tax Income / (Expense)	Second Quarter				Six Months
	2008		2007		2008		2007
Corporate
Environmental remediation	(26	)	(6	)	(30	)	(14	)

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
Worldwide Effective Tax Rate

	QUARTERLY						YEAR TO-DATE
	2008		2008		2007		2008		2007
REPORTED INCOME	QTR 2		QTR 1		QTR 2		6 Months		6 Months
Oil & Gas (a)	3,806		2,888		1,658		6,694		3,541
Chemicals	144		179		158		323		295
Midstream, marketing and other	161		123		25		284		143
Corporate & other	(140	)	(77	)	208		(217	)	(77	)
Pre-tax income	3,971		3,113		2,049		7,084		3,902

Income tax expense
Federal and state	801		606		456		1,407		722
Foreign (a)	870		688		448		1,558		866
Total	1,671		1,294		904		2,965		1,588

Income from continuing operations	2,300		1,819		1,145		4,119		2,314

Worldwide effective tax rate	42%		42%		44%		42%		41%

	2008		2008		2007		2008		2007
CORE RESULTS	QTR 2		QTR 1		QTR 2		6 Months		6 Months
Oil & Gas (a)	3,806		2,888		1,632		6,694		2,994
Chemicals	144		179		158		323		295
Midstream, marketing and other	161		123		25		284		143
Corporate & other	(140	)	(77	)	(81	)	(217	)	(147	)
Pre-tax income	3,971		3,113		1,734		7,084		3,285

Income tax expense
Federal and state	801		606		343		1,407		688
Foreign (a)	870		688		448		1,558		866
Total	1,671		1,294		791		2,965		1,554

Core results	2,300		1,819		943		4,119		1,731

Worldwide effective tax rate	42%		42%		46%		42%		47%


(a) Revenues and income tax expense include taxes owed by Occidental but paid by governmental entities on its behalf. Oil and gas pre-tax income includes the following revenue amounts by periods.

	2008		2008		2007		2008		2007
	QTR 2		QTR 1		QTR 2		6 Months		6 Months
	582		488		300		1,070		588

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2008 Second Quarter Net Income (Loss)

Reported Income Comparison

	Second				First
	Quarter				Quarter
	2008				2008				B / (W)
Oil & Gas		$	3,806			$	2,888			$	918
Chemical		144				179				(35		)
Midstream, marketing and other		161				123				38
Corporate
Interest expense, net		(7		)		-				(7		)
Other		(133		)		(77		)		(56		)
Taxes		(1,671		)		(1,294		)		(377		)
Income from continuing operations		2,300				1,819				481
Discontinued operations, net		(3		)		27				(30		)
Net Income		$	2,297			$	1,846			$	451

Earnings Per Common Share
Basic		$	2.80			$	2.24			$	0.56
Diluted		$	2.78			$	2.23			$	0.55

Worldwide Effective Tax Rate		42%				42%				0%

OCCIDENTAL PETROLEUM

2008 Second Quarter Net Income (Loss)

Core Results Comparison

	Second				First
	Quarter				Quarter
	2008				2008				B / (W)
Oil & Gas		$	3,806			$	2,888			$	918
Chemical		144				179				(35		)
Midstream, marketing and other		161				123				38
Corporate
Interest expense, net		(7		)		-				(7		)
Other		(133		)		(77		)		(56		)
Taxes		(1,671		)		(1,294		)		(377		)
Core Results		$	2,300			$	1,819			$	481

Core Results Per Common Share
Basic		$	2.80			$	2.21			$	0.59
Diluted		$	2.79			$	2.20			$	0.59

Worldwide Effective Tax Rate		42%				42%				0%

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Oil & Gas

Variance Analysis 2Q08 vs. 1Q08

($ Millions)

* Higher operating expenses

OCCIDENTAL PETROLEUM

Chemical

Variance Analysis 2Q08 vs. 1Q08

($ Millions)

* Higher energy and feedstock costs

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2008 Second Quarter Net Income (Loss)

Reported Income Comparison

	Second			Second
	Quarter			Quarter
	2008			2007			B / (W)
Oil & Gas	$	3,806		$	1,658		$	2,148
Chemical	144			158			(14		)
Midstream, marketing and other	161			25			136
Corporate
Interest expense, net	(7		)	6			(13		)
Other	(133		)	202			(335		)
Taxes	(1,671		)	(904		)	(767		)
Income from continuing operations	2,300			1,145			1,155
Discontinued operations, net	(3		)	267			(270		)
Net Income	$	2,297		$	1,412		$	885

Earnings Per Common Share
Basic	$	2.80		$	1.68		$	1.12
Diluted	$	2.78		$	1.68		$	1.10

Worldwide Effective Tax Rate	42%			44%			2%

OCCIDENTAL PETROLEUM

2008 Second Quarter Net Income (Loss)

Core Results Comparison

	Second			Second
	Quarter			Quarter
	2008			2007			B / (W)
Oil & Gas	$	3,806		$	1,632		$	2,174
Chemical	144			158			(14		)
Midstream, marketing and other	161			25			136
Corporate
Interest expense, net	(7		)	1			(8		)
Other	(133		)	(82		)	(51		)
Taxes	(1,671		)	(791		)	(880		)
Core Results	$	2,300		$	943		$	1,357

Core Results Per Common Share
Basic	$	2.80		$	1.13		$	1.67
Diluted	$	2.79		$	1.12		$	1.67

Worldwide Effective Tax Rate	42%			46%			4%

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Oil & Gas

Variance Analysis 2Q08 vs. 2Q07

($ Millions)

* DD&A rate increase (40) and higher operating expenses

OCCIDENTAL PETROLEUM

Chemical

Variance Analysis 2Q08 vs. 2Q07

($ Millions)

* Higher energy and feedstock costs

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

	Second Quarter				Six Months
	2008		2007		2008		2007
NET PRODUCTION PER DAY:
United States
Crude Oil and Liquids (MBL)
California	84		93		86		89
Permian	169		163		170		164
Midcontinent and Rockies	5		3		4		4
Total	258		259		260		257
Natural Gas (MMCF)
California	238		268		241		250
Permian	190		187		184		192
Midcontinent and Rockies	174		154		166		152
Total	602		609		591		594
Latin America
Crude Oil (MBL)
Argentina	22		34		29		33
Colombia	43		44		43		43
Total	65		78		72		76
Natural Gas (MMCF)
Argentina	14		28		18		25
Bolivia	21		18		21		16
Total	35		46		39		41
Middle East / North Africa
Crude Oil (MBL)
Oman	21		19		20		21
Dolphin	19		-		20		-
Qatar	45		47		46		46
Yemen	20		25		23		28
Libya	27		19		23		23
Total	132		110		132		118
Natural Gas (MMCF)
Oman	25		32		23		29
Dolphin	163		-		182		-
Total	188		32		205		29

Barrels of Oil Equivalent (MBOE)

Subtotal consolidated subsidiaries	593		561		603		562
Other interests
Colombia - minority interest	(7	)	(6	)	(7	)	(6	)
Yemen - Occidental net interest	2		3		2		3
Total worldwide production - MBOE	588		558		598		559

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

	Second Quarter					Six Months
	2008			2007		2008			2007

OIL & GAS:
PRICES
United States
Crude Oil ($/BBL)	114.88			58.19		102.47			55.09
Natural gas ($/MCF)	9.99			7.07		9.09			6.74

Latin America
Crude Oil ($/BBL)	87.78			52.57		76.47			49.19
Natural Gas ($/MCF)	4.50			2.26		4.11			2.12

Middle East / North Africa
Crude Oil ($/BBL)	113.64			66.21		103.47			60.42

Total Worldwide
Crude Oil ($/BBL)	110.12			59.11		98.16			55.34
Natural Gas ($/MCF)	7.71			6.46		6.87			6.20


	Second Quarter					Six Months
	2008			2007		2008			2007
Exploration Expense
Domestic	$	25		$	9	$	32		$	27
Latin America	11			8		26			31
Middle East / North Africa	36			61		76			114
Other Eastern Hemisphere	(14		)	15		(2		)	23
TOTAL REPORTED	$	58		$	93	$	132		$	195

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

	Second Quarter				Six Months
Capital Expenditures ($MM)	2008		2007		2008		2007
Oil & Gas
California	$	201	$	147	$	365	$	275
Permian	109		125		200		253
Midcontinent and Rockies	86		57		134		100
Latin America	210		109		390		223
Middle East / North Africa	262		316		528		609
Other Eastern Hemisphere	-		6		-		7
Chemicals	95		48		145		75
Midstream, marketing and other	94		39		159		82
Corporate	59		3		63		6
TOTAL	$	1,116	$	850	$	1,984	$	1,630

Depreciation, Depletion &	Second Quarter				Six Months
Amortization of Assets ($MM)	2008		2007		2008		2007
Oil & Gas
Domestic	$	248	$	248	$	503	$	486
Latin America	83		88		188		178
Middle East / North Africa	187		132		377		285
Chemicals	82		77		164		150
Midstream, marketing and other	16		15		33		31
Corporate	5		4		9		8
TOTAL	$	621	$	564	$	1,274	$	1,138

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

CORPORATE

($ millions)

	30-Jun-08		31-Dec-07
CAPITALIZATION

Long-Term Debt (including current maturities)	$	1,775	$	1,776

Notes Payable	-		12

Others	25		25

Total Debt	$	1,800	$	1,813


EQUITY	$	25,143	$	22,823

Total Debt To Total Capitalization	7%		7%

Exhibit 99.4

Second Quarter 2008 Earnings Conference Call July 24, 2008

2 Second Quarter 2008 Earnings – Highlights • Core Results - $2.3 B vs. $943 mm in 2Q-07 • Core EPS $2.79 (diluted) vs. $1.12 in 2Q-07 • +149% year-over-year • Record quarterly core results beat the previous record set in 1Q08 by 26%, and were driven by: • 5.4% year-over-year increase in oil and gas production; • Higher oil and gas prices.

3 Second Quarter 2008 Earnings - Oil & Gas Segment Variance Analysis - 2Q08 vs. 2Q07 • Core Results for 2Q08 of $3.806 Billion • + 133% year-over-year ($ in millions) 2Q 07 Sales Price Sales Volume/Mix Exploration Expense *All Others 2Q 08 $1,632 $3,806 $2,175 $117 $35 $153 *All Others include: DD&A rate increase ($40 mm), and higher operating expenses.

4 Second Quarter 2008 Earnings – Oil & Gas Segment 2Q08 2Q07 Reported Segment Earnings ($ mm) $3,806 $1,658 WTI Oil Price ($/bbl) $123.98 $65.05 NYMEX Gas Price ($/mcf) $10.43 $7.56 Oxy’s Realized Prices Worldwide Oil ($/bbl) $110.12 $59.11 US Natural Gas ($/mcf) $9.99 $7.07

5 2Q08 2Q07 Oil and Gas Production (mboe/day) 588 558 • +5.4% year-over-year • Improvement was largely due to: – the Dolphin Project (+46 mboe/d), and; – the recently acquired domestic assets (+11 mboe/d). • Partially offset by: – lower volumes from Argentina due to a strike in Santa Cruz province during May (-15 mboe/d), and; – impact of higher oil prices on PSC volumes (-19 mboe/d). • Dolphin contributed $101 mm to after-tax income and sales volumes of 46 mboe/d in 2Q08; – Dolphin’s sales volumes decreased from 1Q08 due to the effect of higher prices on our PSCs which have reached the cost recovery ceiling for this year. Second Quarter 2008 Earnings – Oil & Gas Segment

6 Second Quarter 2008 Earnings – Oil & Gas Segment • Exploration expense was $58 mm in 2Q08. • Oil & Gas production costs during 1H08 were $14.08 per boe vs. $12.33 per boe for full-year 2007. – Approximately 47% of the increase is related to increased energy costs. The increases reflect higher production, and ad valorem taxes, and field operating costs. • We are boosting our expensed workover activity by 65% in 2H08 in order to increase production in a high price environment.

7 • Core Results for 2Q08 of $144 Million • Year-over-year decline due to lower volumes and margins for chlorine and PVC, partially offset by higher caustic soda margins. Second Quarter 2008 Earnings – Chemical Segment Variance Analysis - 2Q08 vs. 2Q07 2Q 07 Sales Price Sales Volume/Mix *Operations/ Manufacturing All Others 2Q 08 $158 $144 $209 $26 $228 $31 ($ in millions) *Higher energy and feedstock costs

8 • Core Results for 2Q08 of $161 Million • Improvement due to higher Dolphin pipeline income, higher NGL margins in the gas processing business and improved marketing margins. Second Quarter 2008 Earnings – Midstream Segment Variance Analysis - 2Q08 vs. 2Q07 2Q 07 Pipelines - Dolphin start-up Higher Margins* 2Q 08 $25 $161 $34 $102 ($ in millions) *Includes positive mark to market adjustments which contributed to pipeline and storage earnings during 2Q08.

9 Second Quarter 2008 Earnings – Six Months Results YTD2008 YTD2007 • Net Income ($ mm) $4,143 $2,624 – Record income, +58% year-over-year. • Oil and Gas Production (mboe/day) 598 559 – +7% year-over-year • EPS (diluted) $5.01 $3.11 – Six months net income for 2007 included $893 mm, net of tax for the items noted on the schedule reconciling net income to core results. • Capital spending was $1.1 billion in 2Q08 and $2 billion during 1H08. • Annualized ROE was 35%, and annualized ROCE of 32%.

10 Second Quarter 2008 Earnings – Cash Flow YTD 2008 $7,000 $2,000 $860 $415 $1,500 Available Cash Acquisitions Capex Share Repurchase Dividends Ending Cash Balance 6/30/08 Cash Flow From Operations $5,000 ($ in millions) Beginning Cash $2,000 $2,300 Other $75

11 Second Quarter 2008 Earnings – Share Repurchase • Spent $860 million to repurchase 11.1 million shares YTD 2008 at an average price of $77.82 per share. • The Board authorized repurchase of an additional 20 million shares, resulting in a remaining share repurchase authorization of 35.2 million shares. Shares Outstanding (mm) YTD08 6/30/08 Weighted Average Basic 822.5 Weighted Average Diluted 826.9 Basic Shares Outstanding 818.1 Diluted Shares Outstanding 822.4

12 Second Quarter 2008 Earnings - 3Q08 Outlook • Commodity Price Sensitivity – Earnings – A $1.00 per barrel change in oil prices impacts oil and gas quarterly earnings before income taxes by about $37 mm; • This includes the impact of Dolphin; • Also included is the production sharing contract price impact of approximately 300 barrels per day. – A change of $0.50 per million BTUs in domestic gas prices has a $25 mm impact on quarterly earnings before income taxes. • Expect 3Q08 exploration expense to be $90 to $110 mm for our seismic and drilling programs. • Expect 3Q08 Chemical earnings to be in the range of $135 to $150 mm, compared to $212 mm in 3Q07. – Despite weakness in the construction and housing markets, and higher feedstock and energy costs, we believe this range of earnings is likely.

13 Second Quarter 2008 Earnings – 2008 Capital Spending Program • We are increasing our 2008 capex estimate by $700 mm . $4.7 B, or 17%. – The increase will be used to drill 254 new wells and complete 145 additional capital workovers; – Represents +16% in new wells and +12% in capital workovers. • Majority of the activity will be in California where we are adding 6 additional drilling rigs. – Expanding our rig fleet in the Elk Hills area by 5; – Drilling an additional 100 wells, mostly in shallow zones; – We have added 50 capital workovers to our activity in 2H08. • We are adding 6 drilling rigs in Latin America: – We will be increasing drilling in Argentina to offset the impact of the recent strike; – We are carrying out an extensive workover program in Argentina; – In Colombia, we are expanding our drilling in the La Cira Infantas field. • Middle East/North Africa: – Additional wells are being drilled in the Masila area fields in Yemen; – In Libya, we will drill 4 additional exploratory wells, 3 are under the new contract. • Increasing Midstream capex, primarily for the construction of the new West Texas gas processing plant and pipeline announced in June.

14 Second Quarter 2008 Earnings – 2008 Capital Spending Program Increased Activity # Drilling # New # Capital $MM Rigs Wells Workovers United States 195 6 203 52 Latin America 190 6 33 93 Mid. East / N. Africa 105 1 18 - Midstream 210 - - - 700 13 254 145 • 16% increase in new wells • 12% increase in capital workovers • West Texas gas processing plant

15 Second Quarter 2008 Earnings – 3Q08 Production Outlook • Expect oil and gas production to be in the range of 590 to 600 mboe/d in 3Q08, at approximately $125 oil. • Argentina production is back to approx. pre-strike levels. – Drilling activity is expected to increase in 2H08 with additional rigs that are being deployed; – Argentine production is expected to increase by approx. 19 mboe/d from 2Q08 levels. • Libya’s production is expected to be 8 mboe/d in 3Q08, with liftings of approx. 5 mboe/d. – The new contract terms reduce the Company’s share of production, offset by a reduction in tax rates, which result in more favorable economic terms. • Other operations are expected to have a net increase in production.

16 Second Quarter 2008 Earnings – Production Outlook 2008 To 2010 • Production is expected to be 610 mboe/d in 2H08 and total growth in 2008 will be 6%. – Due to higher prices, we’ve lost 13 mboe/d versus our initial $80 oil price outlook as a result of PSCs. • Production is expected to be 650 mboe/d in 2009 and 705 mboe/d in 2010. – Our production growth rate is 8% for both 2009 and 2010; – The CAGR for production is 7.3% for the 3-year period; – These estimates are all based on a WTI price of $111, and consistent with 1H08; – At this price level, for every $5 change in WTI price, production will be inversely impacted by approx. 1,500 boe/d. • Recognizing the potential for fluctuations in project timing, we expect a range of 600 to 620 mboe/d in 2H08, 640 to 670 mboe/d in 2009, and 690 to 720 mboe/d in 2010.

17 Second Quarter 2008 Earnings – Production Outlook 2008 To 2010 • California: – Expect to increase production by expanding our drilling program in Elk Hills and surrounding areas, in plays such as the Antelope Shale and deeper pay zones where we have had recent exploration successes; – Planning various EOR projects such as the expansion of the successful ESOZ waterflood; – In Ventura County, we have an active drilling and exploitation program in a deeper pay horizon beneath an existing successful waterflood, which is also being enhanced; – In the Wilmington field in Long Beach, we are planning to drill several delineation wells as a follow-up to a deeper exploration success. • Midcontinent/Rockies: – We expect to double our gas production exit rate in the Piceance Basin by the end of 2008 from current levels of 40 mmcf/d to 80 mmcf/d as a result of the drilling program and to 100 mmcf/d in 2009 through our expanded development program; – We are retro-fitting our Conn Creek gas plant and compression facility to double its capacity to 80 mmcf/d by year end and to increase it to 100 mmcf/d in 2009; – Based on contracts in place, we will increase our current 40 mmcf/d of gas transportation capacity out of the Rockies to 100 mmcf/d and expect to finalize agreements for an additional 50 mmcf/d for 2011.

18 Second Quarter 2008 Earnings – Production Outlook 2008 To 2010 • Midcontinent/Rockies (cont’d): – Our JV with PXP is expanding its drilling activity in the Piceance Basin, which should increase production from the current rate of 26 mmcf/d to 36 mmcf/d by the end of the year and to 44 mmcf/d average rate by 2010; – Pursuing oil exploration activity in Utah that we expect will add to production. • Permian Basin: – Ongoing drilling program is being accelerated around several plays to take advantage of the exploitation opportunities from acquisitions over the past year. – Planning to expand our workover activity significantly by increasing our service rigs from 155 to 175 within the next year. – Increasing our CO2 flood program through additional resources from Bravo Dome. Together with the drilling program and the workover activity, this is expected to increase our production over the next 2 years by approximately 10 mb/d. – By 2010 we should start to see a positive impact on production from additional CO2 resources as a result of the recently announced SandRidge transaction, enabling us to increase our production by a minimum of 50 mb/d of oil over the next five years.

19 Second Quarter 2008 Earnings – Production Outlook 2008 To 2010 • Latin America: – Our near field exploration program in Argentina continues to be successful, which has enabled us to identify multiple new drilling locations in addition to those in our current program. We expect to achieve significant production growth by expanding our drilling in these and other areas with the addition of five high performance rigs. – In Colombia, we expect that growth in La Cira Infantas will largely offset the natural decline in Caño Limon. • Middle East/North Africa: – For Dolphin, higher oil prices and success realized to date have resulted in a very rapid pace of cost recovery. Consequently, at the $111 oil price, we will realize fewer barrels of production going into the future; – Libya's net production will decline as a result of the new contract, which took effect at the end of 2Q08. Based on current pricing, we expect earnings to increase 2 to 3 times under the new contract. Yet, as a result of our increased capital development program, Libyan production will increase over the next five years to the former levels; – In Oman, development efforts at the Mukhaizna steam flood project are on track and we expect to exit 2008 at a gross level of approximately 50 mb/d. Large scale drilling activity in the range of 200 wells per year, coupled with the introduction of multiple water treatment facilities to supply the steam generators, will allow us to increase gross production to 80 mb/d by year end 2009 and 115 mb/d by year end 2010. Our net production in Oman is expected to double by 2010 to 54 mboe/d.

20 Second Quarter 2008 Earnings – Production Outlook 2008 To 2010 • Middle East/North Africa (cont’d): – In Qatar, we have agreed with the Government on a third phase development plan for the ISND Field. This phase entails about 70 low risk, infill drilling projects, as well as further platform and pipeline enhancements over the 2008 to 2010 timeframe. A third drilling rig has recently been added to perform a large number of rate enhancing workover projects in ISND, and further development drilling activity is expected in the Al- Rayyan Field beginning in late 2008/early 2009. We expect these significant additional development activities to increase OXY’s net production in Qatar by as much as 20% by 2010 over 2008 levels; – Yemen's production reflects a base decline in the Masila field. • Importantly this forecast is based only on existing projects and does not contemplate any new projects or future acquisitions.

21 UNITED STATES California 126 3 17 25 Midcontinent and Rockies 32 2 11 18 Permian 200 1 5 10 Total United States 358 6 33 53 LATIN AMERICA Argentina 32 13 25 40 Bolivia 4 - - - Colombia 36 4 - - Total Latin America 72 17 25 40 MIDDLE EAST / NORTH AFRICA Dolphin E&P 51 (5 ) (13) (15) Libya 22 (13) (12) (7) Oman 24 7 16 30 Qatar 46 4 6 9 Yemen 25 (4) (3) (3) Total Middle East / North Africa 168 (11) (6) 14 TOTAL OIL & GAS 598 12 52 107 YTD JUNE 2008 PRODUCTION 598 598 598 TOTAL OIL & GAS PRODUCTION 610 650 705 RANGE 600-620 640-670 690-720 1 YTD 2008 average WTI is $111. This price was used for all outlook periods. 2 For each $5 increase in WTI, production drops approximately 1,500 BOE per day Change from YTD June 2008 2 YTD June 2nd Half 2008 1 2008 2009 2010 Second Quarter 2008 Earnings – Production Outlook 2008 To 2010

Occidental Petroleum Corporation
Return on Capital Employed (%)
($ Millions)			Six
			Months		Annualized
Reconciliation to Generally Accepted Accounting Principles (GAAP)	2007		2008		2008
GAAP measure - earnings applicable to common shareholders	5,400		4,143
Interest expense	199		7
Tax effect of interest expense	(70	)	(2	)
Earnings before tax-effected interest expense	5,529		4,148

GAAP stockholders' equity	22,823		25,143

DEBT
GAAP debt
Debt, including current maturities	1,788		1,775
Non-GAAP debt
Capital lease obligation	25		25
Subsidiary preferred stock	-		-
Total debt	1,813		1,800

Total capital employed	24,636		26,943

Return on Capital Employed (%)	23.6		16.1		32.2

Exhibit 99.5

FORWARD-LOOKING STATEMENTS FOR EARNINGS RELEASE PRESENTATION MATERIALS

See the investor relations supplemental schedules for the reconciliation of non-GAAP items. Statements in this presentation that contain words such as “will,” “expect” or “estimate,” or otherwise relate to the future, are forward-looking and involve risks and uncertainties that could significantly affect expected results. Factors that could cause results to differ materially include, but are not limited to: exploration risks such as drilling of unsuccessful wells; global commodity pricing fluctuations and supply/demand considerations for oil, gas and chemicals; higher-than-expected costs; political risk; operational interruptions; changes in tax rates; and not successfully completing (or any material delay in) any expansion, capital expenditure, acquisition, or disposition. You should not place undue reliance on these forward-looking statements which speak only as of the date of this presentation. The United States Securities and Exchange Commission (SEC) permits oil and natural gas companies, in their filings with the SEC, to disclose only proved reserves demonstrated by actual production or conclusive formation tests to be economically producible under existing economic and operating conditions. We use certain terms in this presentation, such as recoverable reserves and oil in place, that the SEC’s guidelines strictly prohibit us from using in filings with the SEC. Unless legally required, Occidental does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise. U.S. investors are urged to consider carefully the disclosure in our Form 10-K, available through the following toll-free telephone number, 1-888-OXYPETE (1-888-699-7383) or on the Internet at http://www.oxy.com . You also can obtain a copy from the SEC by calling 1-800-SEC-0330.