news releases

Occidental Petroleum Declares Dividend

LOS ANGELES, Feb. 5, 2009 -- Occidental Petroleum Corporation (NYSE:OXY) said today that its board of directors has declared a regular quarterly dividend of $.32 per share on common stock payable April 15, 2009, to stockholders of record on March 10, 2009.

This quarterly dividend is at the same level as the dividend paid in January. Oxy has paid quarterly dividends continuously since 1975.

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.

CONTACT:  Occidental Petroleum Corporation
          Media
          Richard S. Kline
            310-443-6249
            richard_kline@oxy.com
          Investors
          Chris Stavros
            212-603-8184
            chris_stavros@oxy.com
          www.oxy.com