news releases

Occidental Petroleum Declares Dividend

LOS ANGELES, May 5, 2005 -- Occidental Petroleum Corporation (NYSE:OXY) said today that its board of directors has declared a regular quarterly dividend of $.31 per share on common stock payable July 15, 2005, to stockholders of record on June 10, 2005.

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