news releases

Occidental Petroleum Declares Dividend

LOS ANGELES, Feb. 14, 2008 -- Occidental Petroleum Corporation (NYSE:OXY) said today that its board of directors has declared a regular quarterly dividend of $.25 per share on common stock payable April 15, 2008, to stockholders of record on March 10, 2008.

This first quarter dividend is Oxy's 134th consecutive quarterly dividend and is at the same level as the dividend paid in the fourth quarter of 2007.

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.

On the web: www.oxy.com

CONTACT: Occidental Petroleum Corporation
         Richard S. Kline (media)
           310-443-6249
           richard_kline@oxy.com
         Chris Stavros (investors)
           212-603-8184
           chris_stavros@oxy.com