news releases

Occidental Petroleum Declares Dividends

LOS ANGELES, April 29, 1999 -- Occidental Petroleum Corporation (NYSE: OXY) said today that its board of directors has declared a regular quarterly dividend of $.25 per share of common stock payable July 15, 1999 to stockholders of record on June 10, 1999.

The board also declared a regular quarterly dividend of $.75 per share on Occidental's $3.00 Cumulative CXY-Indexed Convertible Preferred Stock payable July 1, 1999 to stockholders of record on June 10, 1999. -0-

Contacts:  Howard Collins (media)
           310-443-6523
           Kenneth J. Huffman (investors)
           212-603-8183