Occidental Petroleum Board Forms Search Committee as Part of Succession Planning Process

  Occidental Petroleum Board Forms Search Committee as Part of Succession
  Planning Process

Business Wire

LOS ANGELES -- February 14, 2013

Occidental Petroleum Corporation (NYSE:OXY) today announced that as part of
the Company’s succession planning process, the Board has formed a search
committee to undertake a review of internal and external candidates to succeed
President and Chief Executive Officer, Stephen I. Chazen, with the assistance
of a leading executive search firm. The Company has not set a timetable for
completion of the search. As previously announced, Dr. Ray R. Irani, who
continues to serve as Executive Chairman, will retire at the end of 2014.

“Succession planning and best corporate governance practices have been a high
priority for the Board over the past number of years,” said Director Margaret
Foran. “We look forward to a thoughtful and smooth process that will yield the
best result for Oxy and all of its constituencies.”

                                  About Oxy

Occidental Petroleum Corporation (OXY) 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 one of the largest
U.S. oil and gas companies, based on equity market capitalization. Oxy's
wholly owned subsidiary, OxyChem manufactures and markets chlor-alkali
products and vinyls. Oxy 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
Melissa E. Schoeb
melissa_schoeb@oxy.com
310-443-6504
or
Chris Stavros
chris_stavros@oxy.com
212-603-8184
On the web: www.oxy.com
 
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