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Occidental Petroleum Completes Purchase of Arco Long Beach

LOS ANGELES, April 24, 2000 -- Occidental Petroleum Corporation (NYSE:OXY) said today that it has completed the acquisition of ARCO Long Beach Inc., owner of the Long Beach Unit's operating contractor, THUMS.

The acquisition adds approximately 98 million barrels of net oil reserves and approximately 30,000 barrels per day of net oil production to Occidental's growing California operations. -0-

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