news releases

Occidental Petroleum Declares Dividend

LOS ANGELES, Oct. 12, 2006 -- Occidental Petroleum Corporation (NYSE:OXY) said today that its board of directors has declared a regular quarterly dividend of $.22 per share on common stock payable January 15, 2007, to stockholders of record on December 8, 2006.

CONTACT:  Occidental Petroleum Corporation
          Lawrence P. Meriage (media)
            310-443-6562
          Kenneth J. Huffman (investors)
            212-603-8183    
          On the Web: www.oxy.com