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Occidental Petroleum Corp.$77.36$.02.03%

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 Occidental Petroleum Announces 4th Quarter 2015 Results
   Thursday, February 04, 2016 7:00:18 AM ET

--2016 capital program not to exceed $3.0 billion with production growth of 2 to 4 percent from ongoing operations

Occidental Petroleum Corporation (OXY ) announced operating cash flow before working capital for the fourth quarter of 2015 was $944 million, with total cash on the balance sheet at December 31, 2015 of $4.4 billion. Core results for the fourth quarter of 2015 were a loss of $129 million or $0.17 per diluted share. Reported results were a loss of $6.78 per diluted share for the quarter, including $5.4 billion of after-tax charges, mostly due to impairments.

In announcing the results, Chief Executive Officer Stephen I. Chazen said, "In 2015, we continued exiting our non-core assets in order to streamline the business. Our 2015 capital spending was down by 36 percent compared to a year ago, and total company production still grew by 14 percent with Permian Resources growing 47 percent.



"We continue to focus on capital and operating efficiencies. Our Permian drilling and completion costs declined by 33 percent. Total company operating costs declined by nearly $2.00 per barrel to $11.57 and fell further in the fourth quarter. We reduced SG&A by over $225 million or 16 percent during 2015.

"We ended the year with $4.4 billion in cash and expect to receive about $900 million more from the Ecuador settlement and $300 million in proceeds from asset sales in the coming months. While the 2016 price environment remains challenging, we will commit capital to only our highest return projects. The company’s cash flow priorities remain the same, with the most important being the safety and maintenance of our operations and funding dividends. Our 2016 capital program is expected to be no more than $3.0 billion with production growth of 2 to 4 percent from ongoing operations."

QUARTERLY RESULTS

Oil and Gas

Total oil and gas after-tax results reflected a loss of $189 million for the fourth quarter of 2015, compared to income of $17 million for the third quarter of 2015 and $317 million for the fourth quarter of 2014. The decrease in oil and gas results on a sequential and year-over-year basis was due to the continued decline in commodity prices in the fourth quarter of 2015, partially offset by higher volumes and lower operating expenses.

The average WTI and Brent marker prices were $42.18 per barrel and $44.71 per barrel, respectively, for the fourth quarter of 2015, a decrease of about 10 percent on a sequential quarterly basis and over 40 percent on a year-over-year basis. Our average worldwide realized crude oil prices were $38.68 per barrel for the fourth quarter of 2015, a decrease of 19 percent compared with the third quarter of 2015 and 46 percent compared with the fourth quarter of 2014. Our average worldwide NGL prices were $14.02 per barrel in the fourth quarter of 2015, a decline of 4 percent from the preceding quarter and 49 percent from the fourth quarter of last year. Our average domestic natural gas price was $1.75 per MCF, a decline of 22 percent in the fourth quarter of 2015 compared with the third quarter of 2015 and a decrease of 51 percent compared with the fourth quarter of 2014.

For the fourth quarter of 2015, total company average daily oil and gas production volumes, excluding Williston, increased by 75,000 barrels of oil equivalent (BOE) to 671,000 BOE from 596,000 BOE in the fourth quarter of 2014. The sale of our Williston Basin assets closed on November 20, 2015. Williston daily production averaged 9,000 BOE and 20,000 BOE for the fourth quarters of 2015 and 2014, respectively. Compared to the fourth quarter of 2014, domestic average daily production increased by 11,000 BOE to 312,000 BOE in the fourth quarter of 2015 with the majority of the increase coming from oil production, which grew by 19,000 barrels to 190,000 barrels per day, with all of the increase attributable to Permian Resources. The increase in Permian Resources oil production was partially offset by lower natural gas and oil production in Piceance and South Texas. International average daily production increased to 359,000 BOE in the fourth quarter of 2015 from 295,000 BOE in the fourth quarter of 2014. The increase in international production is mainly due to the ramp up in production at Al Hosn, which produced 60,000 BOE per day in the fourth quarter of 2015.

Total company average daily oil and gas production for the fourth quarter was about flat compared to the third quarter of 2015. Fourth quarter domestic average daily production declined by 3,000 BOE compared to the third quarter of 2015 due to lower natural gas production from Piceance and South Texas, where we have curtailed all development activities due to the gas price environment. The increase in international average daily production of 2,000 BOE compared to the third quarter of 2015 reflected improved production rates at Al Hosn and in Colombia, which increased by 10,000 BOE and 13,000 BOE, respectively, partially offset by lower production in Iraq.

Total company average daily sales volumes were 721,000 BOE in the fourth quarter of 2015 compared to 653,000 BOE for the third quarter of 2015 and 615,000 BOE in the fourth quarter of 2014. The improvement was largely due to higher volumes in Iraq resulting from liftings that slipped from prior periods and higher production at Al Hosn.

Chemical

Chemical pre-tax core earnings for the fourth quarter of 2015 were $116 million, compared to $174 million in the third quarter of 2015 and $160 million in the fourth quarter of 2014. Compared to the third quarter of 2015, the lower results reflected weaker demand across most product lines and lower polyvinyl chloride (PVC) prices unfavorably impacting margins, partially offset by higher caustic soda prices and lower energy costs. On a year-over-year basis, the lower earnings reflected lower caustic soda pricing and lower sales volume across most product lines, partially offset by lower energy costs and improved margins in PVC resulting primarily from lower ethylene costs.

Midstream and Marketing

Midstream pre-tax core results for the fourth quarter of 2015 were a loss $45 million, compared to income of $31 million for the third quarter of 2015 and $168 million for the fourth quarter of 2014. The decrease in earnings compared to the third quarter of 2015 and fourth quarter of 2014 reflected lower marketing margins due to narrowing WTI and LLS differentials. Current quarter loss comparisons to both periods also included lower pipeline revenues and on a sequential quarterly basis, lower seasonal margins from our power generation operations.

About Occidental Petroleum

Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East region and Latin America. Headquartered in Houston, Occidental is one of the largest U.S. oil and gas companies, based on equity market capitalization. Occidental’s midstream and marketing segment gathers, processes, transports, stores, purchases and markets hydrocarbons and other commodities in support of Occidental’s businesses. The company’s wholly owned subsidiary OxyChem manufactures and markets chlor-alkali products and vinyls.

Forward-Looking Statements

Portions of this press release contain forward-looking statements and involve risks and uncertainties that could materially affect expected results of operations, liquidity, cash flows and business prospects. Actual results may differ from anticipated results, sometimes materially, and reported results should not be considered an indication of future performance. Factors that could cause results to differ include, but are not limited to: global commodity pricing fluctuations; supply and demand considerations for Occidental’s products; higher-than-expected costs; the regulatory approval environment; reorganization or restructuring of Occidental’s operations; not successfully completing, or any material delay of, field developments, expansion projects, capital expenditures, efficiency projects, acquisitions or dispositions; uncertainties about the estimated quantities of oil and natural gas reserves; lower-than-expected production from development projects or acquisitions; exploration risks; general economic slowdowns domestically or internationally; political conditions and events; liability under environmental regulations including remedial actions; litigation; disruption or interruption of production or manufacturing or facility damage due to accidents, chemical releases, labor unrest, weather, natural disasters, cyber attacks or insurgent activity; failure of risk management; changes in law or regulations; or changes in tax rates. Words such as "estimate," "project," "predict," "will," "would," "should," "could," "may," "might," "anticipate," "plan," "intend," "believe," "expect," "aim," "goal," "target," "objective," "likely" or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. Unless legally required, Occidental does not undertake any obligation to update any forward-looking statements, as a result of new information, future events or otherwise. Material risks that may affect Occidental’s results of operations and financial position appear in Part I, Item 1A "Risk Factors" of the 2014 Form 10-K. Occidental posts or provides links to important information on its website at www.oxy.com.

 
                                                                 Occidental Petroleum Corporation
                                                          Quarter 4 2015 Earnings Release Schedules Index
                  
Schedule #                                                                                     Schedule Description
----------                                                                                     ------------------------------------------------------------------
     1                                                                                         Summary Highlights
                                                                                                
     2                                                                                         Segment income before tax allocations
                                                                                               ------------------------------------------------------------------
                                                                                                  a- Core income
                                                                                                  a- Non-core adjustments
                                                                                                  a- Reported income
                                                                                                
     3                                                                                         Segment income after tax allocations
                                                                                               ------------------------------------------------------------------
                                                                                                  a- Core income
                                                                                                  a- Non-core adjustments
                                                                                                  a- Reported income
                                                                                                
     4                                                                                         Detail of non-core adjustments
                                                                                                  a- Before tax allocations
                                                                                               ------------------------------------------------------------------
                                                                                                  a- After tax allocations
                                                                                               ------------------------------------------------------------------
                                                                                                
     5                                                                                         GAAP Consolidated Income Statement
                                                                                                
     6                                                                                         Condensed Balance Sheets
                                                                                                  a- 2014
                                                                                                  a- 2015
                                                                                                
     7                                                                                         Condensed Statement of Cash Flows - including GAAP reconciliations
                                                                                               Details of Depreciation, Depletion and Amortization and Capital
                                                                                               Expenditures
                                                                                                
     8                                                                                         Daily production
                                                                                                  a- MBOE/D
                                                                                                  a- By Commodity
                                                                                                
     9                                                                                         Sales
                                                                                                  a- MBOE/D volumes
                                                                                                  a- Realized prices and related marker prices
                                                                                                
    10                                                                                         Oil and Gas $/BOE Costs
                                                                                                
    11                                                                                         Segment Core Income Pre-tax Variance Roll-forwards
                                                                                                  a- Quarter-over-Quarter
                                                                                                  a- Year-over-Year
                                                                                                
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                     Occidental Petroleum Corporation
                                                                                                                                                                                                                                     Summary Highlights
                                          
                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                      2014                                                                                                                                                                                                                                                                                                                                         2015
                                                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
              Quarterly                                                                                                   Qtr 1                                              Qtr 2                                              Qtr 3                                              Qtr 4                                               YTD                                                                                       Qtr 1                                     Qtr 2                           Qtr 3                           Qtr 4                            YTD
------------------------------------                                                                ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------                                             ----------------------------------------------   -------------------- ---------------------------   -------------------- ---------------------------   -------------------- ---------------------------   -------------------- ---------------------------
Net income (loss)
   Core ($ millions)                                                                                                   $  1,095                                                              $  1,082                                                              $  1,046                                                              $    560                                                              $  3,783                                                                                   $     31                                                              $    165                                           $     24                                           $   (129 )                                         $     91
   Core EPS - Diluted ($/share)                                                                                        $   1.38                                                              $   1.38                                                              $   1.34                                                              $   0.72                                                              $   4.83                                                                                   $   0.04                                                              $   0.21                                           $   0.03                                           $  (0.17 )                                         $   0.12
   Effective tax rate                                                                                                        41 %                                                                  41 %                                                                  41 %                                                                  39 %                                                                  41 %                                                                                       75 %                                                                  65 %                                               90 %                                               29 %                                               86 %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
   Reported ($ millions)                                                                                               $  1,390                                                              $  1,431                                                              $  1,208                                                              $ (3,413 )                                                            $    616                                                                                   $   (218 )                                                            $    176                                           $ (2,609 )                                         $ (5,178 )                                         $ (7,829 )
   Reported EPS - Diluted ($/share)                                                                                    $   1.75                                                              $   1.82                                                              $   1.55                                                              $  (4.41 )                                                            $   0.79                                                                                   $  (0.28 )                                                            $   0.23                                           $  (3.42 )                                         $  (6.78 )                                         $ (10.23 )
   Effective tax rate                                                                                                        41 %                                                                  41 %                                                                  41 %                                                                  15 %                                                                 109 %                                                                                        8 %                                                                  64 %                                               15 %                                               18 %                                               14 %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Average Shares Outstanding
   Basic (millions)                                                                                                       791.3                                                                 782.6                                                                 777.4                                                                 773.1                                                                 781.1                                                                                      769.6                                                                 766.4                                              763.3                                              763.2                                              765.6
   Diluted (millions)                                                                                                     791.7                                                                 782.9                                                                 777.7                                                                 773.4                                                                 781.1                                                                                      769.6                                                                 766.6                                              763.3                                              763.2                                              765.6
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Production
   Total US (MBOE/D)                                                                                                        283                                                                   286                                                                   294                                                                   301                                                                   292                                                                                        307                                                                   314                                                315                                                312                                                312
   US oil (MBBL/D)                                                                                                          155                                                                   159                                                                   162                                                                   171                                                                   162                                                                                        180                                                                   188                                                188                                                190                                                187
   Worldwide (MBOE/D)                                                                                                       554                                                                   558                                                                   574                                                                   596                                                                   571                                                                                        626                                                                   639                                                672                                                671                                                652
   Worldwide sales (MBOE/D)                                                                                                 543                                                                   557                                                                   569                                                                   615                                                                   572                                                                                        618                                                                   638                                                653                                                721                                                658
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Realizations
   Worldwide oil ($/BBL)                                                                                               $  98.14                                                              $  99.30                                                              $  94.26                                                              $  71.58                                                              $  90.13                                                                                   $  48.50                                                              $  54.55                                           $  47.78                                           $  38.68                                           $  47.10
   Worldwide NGL ($/BBL)                                                                                               $  41.70                                                              $  40.98                                                              $  38.20                                                              $  27.39                                                              $  37.01                                                                                   $  17.96                                                              $  18.06                                           $  14.68                                           $  14.02                                           $  15.96
   Domestic gas ($/MCF)                                                                                                $   4.39                                                              $   4.15                                                              $   3.74                                                              $   3.56                                                              $   3.97                                                                                   $   2.49                                                              $   2.09                                           $   2.24                                           $   1.75                                           $   2.15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Cash Flows ($ millions)
   Operating before working capital                                                                                    $  2,294                                                              $  2,070                                                              $  2,341                                                              $  1,374                                                              $  8,079                                                                                   $  1,121                                                              $  1,517                                           $  1,202                                           $    944                                           $  4,784
   Working capital changes                                                                                                 (252 )                                                                 204                                                                  (267 )                                                               1,107                                                                   792                                                                                       (555 )                                                                (399 )                                               16                                                 58                                               (880 )
   Other, net                                                                                              -            -            -            -            -                                                    -         (307 )       (192 )       (151 )       (650 )
                                                                                                    -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ------ -------------------- -------------------- -------------------- ------ - -------------------- -------------------- ------ - -------------------- -------------------- ------ - -------------------- -------------------- ------ -
   Operating - continuing operations                                                                                   $  2,042                                                              $  2,274                                                              $  2,074                                                              $  2,481                                                              $  8,871                                                                                   $    566                                                              $    811                                           $  1,026                                           $    851                                           $  3,254
   Capital expenditures                                                                                                $ (1,732 )                                                            $ (2,001 )                                                            $ (2,003 )                                                            $ (2,984 )                                                            $ (8,720 )                                                                                 $ (1,735 )                                                            $ (1,488 )                                         $ (1,219 )                                         $ (1,170 )                                         $ (5,612 )
                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                                                                                                ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                   2014                                                                                                                                                                                                                                                                                                                                                   2015
                                                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                                                                                                ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
            Year-to-date                                                                                                   Mar                                                Jun                                                Sep                                                Dec                                                                                                                                                              Mar                                       Jun                             Sep                             Dec
------------------------------------                                                                ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------                                                                                                                   ----------------------------------------------   -------------------- ---------------------------   -------------------- ---------------------------   -------------------- ---------------------------
Net income (loss)
   Core ($ millions)                                                                                                   $  1,095                                                              $  2,177                                                              $  3,223                                                              $  3,783                                                                                                                                                         $     31                                                              $    196                                           $    220                                           $     91
   Core EPS - Diluted ($/share)                                                                                        $   1.38                                                              $   2.76                                                              $   4.10                                                              $   4.83                                                                                                                                                         $   0.04                                                              $   0.25                                           $   0.29                                           $   0.12
   Effective tax rate                                                                                                        41 %                                                                  41 %                                                                  41 %                                                                  41 %                                                                                                                                                             75 %                                                                  67 %                                               74 %                                               86 %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
   Reported ($ millions)                                                                                               $  1,390                                                              $  2,821                                                              $  4,029                                                              $    616                                                                                                                                                         $   (218 )                                                            $    (42 )                                         $ (2,651 )                                         $ (7,829 )
   Reported EPS - Diluted ($/share)                                                                                    $   1.75                                                              $   3.58                                                              $   5.13                                                              $   0.79                                                                                                                                                         $  (0.28 )                                                            $  (0.05 )                                         $  (3.46 )                                         $ (10.23 )
   Effective tax rate                                                                                                        41 %                                                                  41 %                                                                  41 %                                                                 109 %                                                                                                                                                              8 %                                                                 113 %                                                5 %                                               14 %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Average Shares Outstanding
   Basic (millions)                                                                                                       791.3                                                                 786.9                                                                 783.7                                                                 781.1                                                                                                                                                            769.6                                                                 768.0                                              766.4                                              765.6
   Diluted (millions)                                                                                                     791.7                                                                 787.2                                                                 784.1                                                                 781.1                                                                                                                                                            769.6                                                                 768.0                                              766.4                                              765.6
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Production
   Total US (MBOE/D)                                                                                                        283                                                                   284                                                                   288                                                                   292                                                                                                                                                              307                                                                   311                                                313                                                312
   US oil (MBBL/D)                                                                                                          155                                                                   156                                                                   159                                                                   162                                                                                                                                                              180                                                                   184                                                186                                                187
   Worldwide (MBOE/D)                                                                                                       554                                                                   555                                                                   562                                                                   571                                                                                                                                                              626                                                                   633                                                647                                                652
   Worldwide sales (MBOE/D)                                                                                                 543                                                                   551                                                                   557                                                                   572                                                                                                                                                              618                                                                   628                                                647                                                658
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Realizations
   Worldwide oil ($/BBL)                                                                                               $  98.14                                                              $  98.73                                                              $  97.20                                                              $  90.13                                                                                                                                                         $  48.50                                                              $  51.60                                           $  50.33                                           $  47.10
   Worldwide NGL ($/BBL)                                                                                               $  41.70                                                              $  41.34                                                              $  40.27                                                              $  37.01                                                                                                                                                         $  17.96                                                              $  18.01                                           $  16.73                                           $  15.96
   Domestic gas ($/MCF)                                                                                                $   4.39                                                              $   4.28                                                              $   4.10                                                              $   3.97                                                                                                                                                         $   2.49                                                              $   2.29                                           $   2.28                                           $   2.15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Cash Flows ($ millions)
   Operating before working capital                                                                                    $  2,294                                                              $  4,364                                                              $  6,705                                                              $  8,079                                                                                                                                                         $  1,121                                                              $  2,638                                           $  3,840                                           $  4,784
   Working capital changes                                                                                                 (252 )                                                                 (48 )                                                                (315 )                                                                 792                                                                                                                                                             (555 )                                                                (954 )                                             (938 )                                             (880 )
   Other, net                                                                                              -            -            -            -                                                                                                                          -         (307 )       (499 )       (650 )
                                                                                                    -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                                                                                                 -------------------- ------ -------------------- -------------------- -------------------- ------ - -------------------- -------------------- ------ - -------------------- -------------------- ------ -
   Operating - continuing operations                                                                                   $  2,042                                                              $  4,316                                                              $  6,390                                                              $  8,871                                                                                                                                                         $    566                                                              $  1,377                                           $  2,403                                           $  3,254
   Capital expenditures                                                                                                $ (1,732 )                                                            $ (3,733 )                                                            $ (5,736 )                                                            $ (8,720 )                                                                                                                                                       $ (1,735 )                                                            $ (3,223 )                                         $ (4,442 )                                         $ (5,612 )
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
SIGNIFICANT TRANSACTIONS AND EVENTS
AFFECTING EARNINGS
-------------------------------------------------------------------
 Occidental’s results of operations often include the effects of
 significant transactions and events affecting earnings that vary
 widely and unpredictably in nature, timing and amount. These
 events may recur, even across successive reporting periods.
 Therefore, management uses a measure called "core results," which
 excludes those items. This non-GAAP measure is not meant to
 disassociate those items from management’s performance, but rather
 is meant to provide useful information to investors interested in
 comparing Occidental’s earnings performance between periods.
 Reported earnings are considered representative of management’s
 performance over the long term. Core results are not considered to
 be an alternative to operating income reported in accordance with
 generally accepted accounting principles.
 
 
                                                         Schedule 1
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                     Occidental Petroleum Corporation
                                                                                                                                                                                                                                     Segment Income Before
                                                                                                                                                                                                                                     Tax Allocations
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                     (Amounts in millions, except per share and effective tax rate
                                                                                                                                                                                                                                     amounts)
                                                                                                                                                                                                                                                                                                                         
                                                                                                 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                  2014                                                                                                                                                                                                                                                                                                                                                                            2015
                                                                                                 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
           Core Results                                                                                                Qtr 1                                             Qtr 2                                             Qtr 3                                             Qtr 4                                               YTD                                                                                       Qtr 1                                            Qtr 2                                             Qtr 3                                              Qtr 4                                                YTD
---------------------------------                                                                ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------                                             ---------------------------------------------   -------------------- --------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- -----------------------------------------------
Oil & Gas
   Domestic                                                                                                         $   646                                                              $   642                                                              $   486                                                              $     80                                                              $  1,854                                                                                   $  (236 )                                                            $  (67 )                                                            $   (179 )                                                            $   (222 )                                                            $    (704 )
   Foreign                                                                                                            1,092                                                                1,096                                                                1,103                                                                   710                                                                 4,001                                                                                       295                                                                 395                                                                   342                                                                   125                                                                  1,157
   Exploration                                                                                       (19 )                          (35 )                          (18 )                           (54 )                          (126 )                                                                   (2 )                          (4 )                            (1 )                            (9 )                            (16 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
                                                                                                                      1,719                                                                1,703                                                                1,571                                                                   736                                                                 5,729                                                                                        57                                                                 324                                                                   162                                                                  (106 )                                                                  437
Chemical                                                                                                                136                                                                  133                                                                  140                                                                   160                                                                   569                                                                                       139                                                                 136                                                                   174                                                                   116                                                                    565
Midstream and marketing                                                                               96         130         155          168          549                                                  (5 )                          84           31          (45 )                             65  
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
   Segment Earnings                                                                                                   1,951                                                                1,966                                                                1,866                                                                 1,064                                                                 6,847                                                                                       191                                                                 544                                                                   367                                                                   (35 )                                                                1,067
Corporate
   Interest                                                                                                             (20 )                                                                (18 )                                                                (15 )                                                                 (18 )                                                                 (71 )                                                                                     (28 )                                                                (7 )                                                                 (47 )                                                                 (59 )                                                                 (141 )
   Other                                                                                             (68 )                         (107 )                          (83 )                          (123 )                          (381 )                                                                  (39 )                         (61 )                           (74 )                           (88 )                           (262 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
Pre-tax income                                                                                                        1,863                                                                1,841                                                                1,768                                                                   923                                                                 6,395                                                                                       124                                                                 476                                                                   246                                                                  (182 )                                                                  664
Taxes
   Federal and state                                                                                                   (215 )                                                               (228 )                                                               (178 )                                                                 (82 )                                                                (703 )                                                                                      14                                                                  59                                                                    80                                                                   159                                                                    312
   Foreign                                                                                          (553 )                         (531 )                         (544 )                          (281 )                        (1,909 )                                                                 (107 )                        (370 )                          (302 )                          (106 )                           (885 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
Net Income                                                                                                          $ 1,095                        $ 1,082                        $ 1,046                        $    560                        $  3,783                                                                $    31                        $  165                        $     24                        $   (129 )                                         $      91  
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Core earnings per share
   Basic                                                                                                            $  1.38                                                              $  1.38                                                              $  1.34                                                              $   0.72                                                              $   4.83                                                                                   $  0.04                                                              $ 0.21                                                              $   0.03                                                              $  (0.17 )                                                            $    0.12
   Diluted                                                                                                          $  1.38                        $  1.38                        $  1.34                        $   0.72                        $   4.83                                                                $  0.04                        $ 0.21                        $   0.03                        $  (0.17 )                                         $    0.12  
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Effective tax rate                                                                                    41 %                           41 %                           41 %                            39 %                            41 %                                                                   75 %                          65 %                            90 %                            29 %                             86 %
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
       Non-core Adjustments                                                                                            Qtr 1                                             Qtr 2                                             Qtr 3                                             Qtr 4                                               YTD                                                                                       Qtr 1                                            Qtr 2                                             Qtr 3                                              Qtr 4                                                YTD
---------------------------------                                                                ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------                                             ---------------------------------------------   -------------------- --------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- -----------------------------------------------
Oil & Gas
   Domestic                                                                                                         $     -                                                              $    64                                                              $    (3 )                                                            $ (4,296 )                                                            $ (4,235 )                                                                                 $  (277 )                                                            $   32                                                              $ (1,852 )                                                            $ (1,350 )                                                            $  (3,447 )
   Foreign                                                                                                                -                                                                    -                                                                    -                                                                (1,066 )                                                              (1,066 )                                                                                     (46 )                                                                (1 )                                                              (1,438 )                                                              (3,419 )                                                               (4,904 )
   Exploration                                                                                         -           -           -            -            -                                                   -          -            -         (146 )                           (146 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
                                                                                                                          -                                                                   64                                                                   (3 )                                                              (5,362 )                                                              (5,301 )                                                                                    (323 )                                                                31                                                                (3,290 )                                                              (4,915 )                                                               (8,497 )
Chemical                                                                                                                  -                                                                    -                                                                    -                                                                  (149 )                                                                (149 )                                                                                       -                                                                   -                                                                    98                                                                  (121 )                                                                  (23 )
Midstream and marketing                                                                               66          78         (50 )                         1,921        2,015                                                 (10 )                           3           (7 )                        (1,245 )                         (1,259 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
   Segment Earnings                                                                                                      66                                                                  142                                                                  (53 )                                                              (3,590 )                                                              (3,435 )                                                                                    (333 )                                                                34                                                                (3,199 )                                                              (6,281 )                                                               (9,779 )
Corporate
   Interest                                                                                                               -                                                                    -                                                                    -                                                                     -                                                                     -                                                                                         -                                                                   -                                                                     -                                                                     -                                                                      -
   Other                                                                                               -         (16 )                          (21 )                        (1,382 )                        (1,419 )                                                                  (25 )                          (6 )                           (98 )                          (232 )                           (361 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
Pre-tax income                                                                                                           66                                                                  126                                                                  (74 )                                                              (4,972 )                                                              (4,854 )                                                                                    (358 )                                                                28                                                                (3,297 )                                                              (6,513 )                                                              (10,140 )
Taxes
   Federal and state                                                                                                    (26 )                                                                (50 )                                                                 23                                                                   913                                                                   860                                                                                       111                                                                 (12 )                                                                 667                                                                   992                                                                  1,758
   Foreign                                                                                             -           -           -           67           67                                                   1         (1 )                             -          145           145  
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
Income From Continuing Operations                                                                                        40                                                                   76                                                                  (51 )                                                              (3,992 )                                                              (3,927 )                                                                                    (246 )                                                                15                                                                (2,630 )                                                              (5,376 )                                                               (8,237 )
Discontinued Operations                                                                              255         273         213           19          760                                                  (3 )                          (4 )                            (3 )                           327           317  
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
Net Income (loss)                                                                                                   $   295                        $   349                        $   162                        $ (3,973 )                                         $ (3,167 )                                                                                 $  (249 )                                         $   11                        $ (2,633 )                                         $ (5,049 )                                         $  (7,920 )
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
          Reported Income                                                                                              Qtr 1                                             Qtr 2                                             Qtr 3                                             Qtr 4                                               YTD                                                                                       Qtr 1                                            Qtr 2                                             Qtr 3                                              Qtr 4                                                YTD
---------------------------------                                                                ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------                                             ---------------------------------------------   -------------------- --------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- -----------------------------------------------
Oil & Gas
   Domestic                                                                                                         $   646                                                              $   706                                                              $   483                                                              $ (4,216 )                                                            $ (2,381 )                                                                                 $  (513 )                                                            $  (35 )                                                            $ (2,031 )                                                            $ (1,572 )                                                            $  (4,151 )
   Foreign                                                                                                            1,092                                                                1,096                                                                1,103                                                                  (356 )                                                               2,935                                                                                       249                                                                 394                                                                (1,096 )                                                              (3,294 )                                                               (3,747 )
   Exploration                                                                                       (19 )                          (35 )                          (18 )                           (54 )                          (126 )                                                                   (2 )                          (4 )                            (1 )                          (155 )                           (162 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
                                                                                                                      1,719                                                                1,767                                                                1,568                                                                (4,626 )                                                                 428                                                                                      (266 )                                                               355                                                                (3,128 )                                                              (5,021 )                                                               (8,060 )
Chemical                                                                                                                136                                                                  133                                                                  140                                                                    11                                                                   420                                                                                       139                                                                 136                                                                   272                                                                    (5 )                                                                  542
Midstream and marketing                                                                              162         208         105        2,089        2,564                                                 (15 )                          87           24       (1,290 )                         (1,194 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
   Segment Earnings                                                                                                   2,017                                                                2,108                                                                1,813                                                                (2,526 )                                                               3,412                                                                                      (142 )                                                               578                                                                (2,832 )                                                              (6,316 )                                                               (8,712 )
Corporate
   Interest                                                                                                             (20 )                                                                (18 )                                                                (15 )                                                                 (18 )                                                                 (71 )                                                                                     (28 )                                                                (7 )                                                                 (47 )                                                                 (59 )                                                                 (141 )
   Other                                                                                             (68 )                         (123 )                         (104 )                        (1,505 )                        (1,800 )                                                                  (64 )                         (67 )                          (172 )                          (320 )                           (623 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
Pre-tax income                                                                                                        1,929                                                                1,967                                                                1,694                                                                (4,049 )                                                               1,541                                                                                      (234 )                                                               504                                                                (3,051 )                                                              (6,695 )                                                               (9,476 )
Taxes
   Federal and state                                                                                                   (241 )                                                               (278 )                                                               (155 )                                                                 831                                                                   157                                                                                       125                                                                  47                                                                   747                                                                 1,151                                                                  2,070
   Foreign                                                                                          (553 )                         (531 )                         (544 )                          (214 )                        (1,842 )                                                                 (106 )                        (371 )                          (302 )                            39          (740 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
Income From Continuing Operations                                                                                     1,135                                                                1,158                                                                  995                                                                (3,432 )                                                                (144 )                                                                                    (215 )                                                               180                                                                (2,606 )                                                              (5,505 )                                                               (8,146 )
Discontinued Operations                                                                              255         273         213           19          760                                                  (3 )                          (4 )                            (3 )                           327           317  
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- --------------------
Net Income (loss) (a)                                                                                               $ 1,390                        $ 1,431                        $ 1,208                        $ (3,413 )                                         $    616                                                                $  (218 )                                         $  176                        $ (2,609 )                                         $ (5,178 )                                         $  (7,829 )
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Reported earnings per share
   Basic                                                                                                            $  1.75                                                              $  1.83                                                              $  1.55                                                              $  (4.41 )                                                            $   0.79                                                                                   $ (0.28 )                                                            $ 0.23                                                              $  (3.42 )                                                            $  (6.78 )                                                            $  (10.23 )
   Diluted                                                                                                          $  1.75                        $  1.82                        $  1.55                        $  (4.41 )                                         $   0.79                                                                $ (0.28 )                                         $ 0.23                        $  (3.42 )                                         $  (6.78 )                                         $  (10.23 )
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Effective tax rate                                                                                    41 %                           41 %                           41 %                            15 %                           109 %                                                                    8 %                          64 %                            15 %                            18 %                             14 %
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
(a) Represents amounts attributable to common stock after
deducting noncontrolling interest amounts in 2014.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                     Schedule 2
 
                                   
                                                                                                                                                                                                                                     Occidental Petroleum Corporation
                                                                                                                                                                                                                                     Segment Income After Tax
                                                                                                                                                                                                                                     Allocations
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                     (Amounts in millions, except per share amounts)
                                                                                                                                                                                                                                                                                   
                                                                                                 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                  2014                                                                                                                                                                                                                                                                                                                                                                            2015
                                                                                                 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
           Core Results                                                                                                Qtr 1                                             Qtr 2                                             Qtr 3                                             Qtr 4                                               YTD                                                                                       Qtr 1                                            Qtr 2                                             Qtr 3                                              Qtr 4                                               YTD
---------------------------------                                                                ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------                                             ---------------------------------------------   -------------------- --------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------
Oil & Gas                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
   Domestic                                                                                                         $   412                                                              $   409                                                              $   310                                                              $     59                                                              $  1,190                                                                                   $   (89 )                                                            $  (42 )                                                            $   (113 )                                                            $   (141 )                                                            $   (385 )
   Foreign                                                                                                              587                                                                  561                                                                  605                                                                   304                                                                 2,057                                                                                        69                                                                 154                                                                   131                                                                   (40 )                                                                 314
   Exploration                                                                                        (5 )                          (29 )                          (15 )                           (46 )                           (95 )                                                                   (2 )                          (4 )                            (1 )                            (8 )                           (15 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                        994                                                                  941                                                                  900                                                                   317                                                                 3,152                                                                                       (22 )                                                               108                                                                    17                                                                  (189 )                                                                 (86 )
Chemical                                                                                                                 86                                                                   84                                                                   89                                                                    98                                                                   357                                                                                        88                                                                  86                                                                   111                                                                    73                                                                   358
Midstream and marketing                                                                               71         103         118          125          417                                                   4         66           41            2          113  
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Segment Earnings                                                                                                   1,151                                                                1,128                                                                1,107                                                                   540                                                                 3,926                                                                                        70                                                                 260                                                                   169                                                                  (114 )                                                                 385
Corporate
   Interest                                                                                                             (20 )                                                                (18 )                                                                (15 )                                                                 (17 )                                                                 (70 )                                                                                     (28 )                                                                (7 )                                                                 (47 )                                                                 (59 )                                                                (141 )
   Other                                                                                                                (68 )                                                               (107 )                                                                (83 )                                                                (124 )                                                                (382 )                                                                                     (39 )                                                               (61 )                                                                 (74 )                                                                 (88 )                                                                (262 )
   Taxes                                                                                              32          79          37          161          309                                                  28        (27 )                           (24 )                           132          109  
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Net Income                                                                                                          $ 1,095                        $ 1,082                        $ 1,046                        $    560                        $  3,783                                                                $    31                        $  165                        $     24                        $   (129 )                                         $     91  
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Core earnings per share
   Basic                                                                                                            $  1.38                                                              $  1.38                                                              $  1.34                                                              $   0.72                                                              $   4.83                                                                                   $  0.04                                                              $ 0.21                                                              $   0.03                                                              $  (0.17 )                                                            $   0.12
   Diluted                                                                                                          $  1.38                        $  1.38                        $  1.34                        $   0.72                        $   4.83                                                                $  0.04                        $ 0.21                        $   0.03                        $  (0.17 )                                         $   0.12  
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
       Non-core Adjustments                                                                                            Qtr 1                                             Qtr 2                                             Qtr 3                                             Qtr 4                                               YTD                                                                                       Qtr 1                                            Qtr 2                                             Qtr 3                                              Qtr 4                                               YTD
---------------------------------                                                                ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------                                             ---------------------------------------------   -------------------- --------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------
Oil & Gas
   Domestic                                                                                                         $     -                                                              $    41                                                              $    (2 )                                                            $ (2,751 )                                                            $ (2,712 )                                                                                 $  (177 )                                                            $   20                                                              $ (1,186 )                                                            $   (864 )                                                            $ (2,207 )
   Foreign                                                                                                                -                                                                    -                                                                    -                                                                (1,055 )                                                              (1,055 )                                                                                     (46 )                                                                (1 )                                                              (1,438 )                                                              (3,274 )                                                              (4,759 )
   Exploration                                                                                         -           -           -            -            -                                                   -          -            -         (146 )                          (146 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                          -                                                                   41                                                                   (2 )                                                              (3,806 )                                                              (3,767 )                                                                                    (223 )                                                                19                                                                (2,624 )                                                              (4,284 )                                                              (7,112 )
Chemical                                                                                                                  -                                                                    -                                                                    -                                                                   (94 )                                                                 (94 )                                                                                       -                                                                   -                                                                    63                                                                   (78 )                                                                 (15 )
Midstream and marketing                                                                               40          47         (30 )                         1,225        1,282                                                  (4 )                           2           (4 )                          (807 )                          (813 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Segment Earnings                                                                                                      40                                                                   88                                                                  (32 )                                                              (2,675 )                                                              (2,579 )                                                                                    (227 )                                                                21                                                                (2,565 )                                                              (5,169 )                                                              (7,940 )
Corporate
   Interest                                                                                                               -                                                                    -                                                                    -                                                                     -                                                                     -                                                                                         -                                                                   -                                                                     -                                                                     -                                                                     -
   Other                                                                                                                  -                                                                  (12 )                                                                (19 )                                                              (1,261 )                                                              (1,292 )                                                                                     (19 )                                                                (6 )                                                                 (65 )                                                                (225 )                                                                (315 )
   Taxes                                                                                               -           -           -          (56 )                           (56 )                                                                    -          -            -           18           18  
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Income From Continuing Operations                                                                                        40                                                                   76                                                                  (51 )                                                              (3,992 )                                                              (3,927 )                                                                                    (246 )                                                                15                                                                (2,630 )                                                              (5,376 )                                                              (8,237 )
Discontinued Operations                                                                              255         273         213           19          760                                                  (3 )                          (4 )                            (3 )                           327          317  
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Net Income (loss)                                                                                                   $   295                        $   349                        $   162                        $ (3,973 )                                         $ (3,167 )                                                                                 $  (249 )                                         $   11                        $ (2,633 )                                         $ (5,049 )                                         $ (7,920 )
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
          Reported Income                                                                                              Qtr 1                                             Qtr 2                                             Qtr 3                                             Qtr 4                                               YTD                                                                                       Qtr 1                                            Qtr 2                                             Qtr 3                                              Qtr 4                                               YTD
---------------------------------                                                                ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ---------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------                                             ---------------------------------------------   -------------------- --------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------
Oil & Gas
   Domestic                                                                                                         $   412                                                              $   450                                                              $   308                                                              $ (2,692 )                                                            $ (1,522 )                                                                                 $  (266 )                                                            $  (22 )                                                            $ (1,299 )                                                            $ (1,005 )                                                            $ (2,592 )
   Foreign                                                                                                              587                                                                  561                                                                  605                                                                  (751 )                                                               1,002                                                                                        23                                                                 153                                                                (1,307 )                                                              (3,314 )                                                              (4,445 )
   Exploration                                                                                        (5 )                          (29 )                          (15 )                           (46 )                           (95 )                                                                   (2 )                          (4 )                            (1 )                          (154 )                          (161 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                        994                                                                  982                                                                  898                                                                (3,489 )                                                                (615 )                                                                                    (245 )                                                               127                                                                (2,607 )                                                              (4,473 )                                                              (7,198 )
Chemical                                                                                                                 86                                                                   84                                                                   89                                                                     4                                                                   263                                                                                        88                                                                  86                                                                   174                                                                    (5 )                                                                 343
Midstream and marketing                                                                              111         150          88        1,350        1,699                                                   -         68           37         (805 )                          (700 )
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Segment Earnings                                                                                                   1,191                                                                1,216                                                                1,075                                                                (2,135 )                                                               1,347                                                                                      (157 )                                                               281                                                                (2,396 )                                                              (5,283 )                                                              (7,555 )
Corporate
   Interest                                                                                                             (20 )                                                                (18 )                                                                (15 )                                                                 (17 )                                                                 (70 )                                                                                     (28 )                                                                (7 )                                                                 (47 )                                                                 (59 )                                                                (141 )
   Other                                                                                                                (68 )                                                               (119 )                                                               (102 )                                                              (1,385 )                                                              (1,674 )                                                                                     (58 )                                                               (67 )                                                                (139 )                                                                (313 )                                                                (577 )
   Taxes                                                                                              32          79          37          105          253                                                  28        (27 )                           (24 )                           150          127  
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Income From Continuing Operations                                                                                     1,135                                                                1,158                                                                  995                                                                (3,432 )                                                                (144 )                                                                                    (215 )                                                               180                                                                (2,606 )                                                              (5,505 )                                                              (8,146 )
Discontinued Operations                                                                              255         273         213           19          760                                                  (3 )                          (4 )                            (3 )                           327          317  
                                                                                                 -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Net Income (loss) (a)                                                                                               $ 1,390                        $ 1,431                        $ 1,208                        $ (3,413 )                                         $    616                                                                $  (218 )                                         $  176                        $ (2,609 )                                         $ (5,178 )                                         $ (7,829 )
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Reported earnings per share
   Basic                                                                                                            $  1.75                                                              $  1.83                                                              $  1.55                                                              $  (4.41 )                                                            $   0.79                                                                                   $ (0.28 )                                                            $ 0.23                                                              $  (3.42 )                                                            $  (6.78 )                                                            $ (10.23 )
   Diluted                                                                                                          $  1.75                        $  1.82                        $  1.55                        $  (4.41 )                                         $   0.79                                                                $ (0.28 )                                         $ 0.23                        $  (3.42 )                                         $  (6.78 )                                         $ (10.23 )
                                                                                                 ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ==== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
(a) Represents amounts attributable to common stock after
deducting noncontrolling interest amounts in 2014.
 
 
                                                                                                                                                                                                                                     Schedule 3
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                     Occidental Petroleum Corporation
                                                                                                                                                                                                                                     Non-core Adjustments Detail
                                                                                                                                                                                                                                     (Amounts in millions)
                                                                                                                                                                                                                                                                                                                                    
                                                                                                            ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                          2014                                                                                                                                                                                                                                                                                                                                                                         2015
                                                                                                            ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
           Before Tax Allocations                                                                                                Qtr 1                                           Qtr 2                                            Qtr 3                                            Qtr 4                                               YTD                                                                                      Qtr 1                                            Qtr 2                                            Qtr 3                                              Qtr 4                                               YTD
--------------------------------------------                                                                -------------------------------------------   -------------------- --------------------------------------------   -------------------- -------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------                                             --------------------------------------------   -------------------- -------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------
Oil & Gas
   Domestic
      Asset sales gains (losses)                                                                                               $   -                                                              $  535                                                              $  (3 )                                                            $     (1 )                                                            $    531                                                                                   $  (13 )                                                            $  18                                                              $      -                                                              $      5                                                              $     10
      Asset impairments and related items                                                                       -       (471 )                          -       (4,295 )                        (4,766 )                                                                (264 )                         14       (1,852 )                        (1,355 )                        (3,457 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                   -                                                                  64                                                                 (3 )                                                              (4,296 )                                                              (4,235 )                                                                                   (277 )                                                               32                                                                (1,852 )                                                              (1,350 )                                                              (3,447 )
   Foreign
      Asset impairments and related items                                                                       -          -         -       (1,066 )                        (1,066 )                                                                 (46 )                         (1 )                        (1,438 )                        (3,565 )                        (5,050 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Total Oil and Gas                                                                                            -         64        (3 )                        (5,362 )                        (5,301 )                                                                (323 )                         31       (3,290 )                        (4,915 )                        (8,497 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Chemical
   Asset sale gain                                                                                                                 -                                                                   -                                                                  -                                                                     -                                                                     -                                                                                        -                                                                  -                                                                    98                                                                     -                                                                    98
   Asset impairments                                                                                            -          -         -         (149 )                          (149 )                                                                   -         -            -         (121 )                          (121 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Total Chemical                                                                                               -          -         -         (149 )                          (149 )                                                -         -           98         (121 )                           (23 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Midstream and marketing
   Asset sales gains                                                                                                               -                                                                   -                                                                  -                                                                 1,984                                                                 1,984                                                                                        -                                                                  -                                                                     -                                                                     -                                                                     -
   Asset impairments and related items                                                                         66         78       (50 )                           (63 )                            31                                                (10 )                          3           (7 )                        (1,245 )                        (1,259 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Total Midstream                                                                                             66         78       (50 )                         1,921        2,015                                                (10 )                          3           (7 )                        (1,245 )                        (1,259 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Corporate
   Asset sales gains (losses)                                                                                                      -                                                                   -                                                                  -                                                                     -                                                                     -                                                                                      (11 )                                                                -                                                                     2                                                                     1                                                                    (8 )
   Asset impairments                                                                                                               -                                                                   -                                                                  -                                                                (1,358 )                                                              (1,358 )                                                                                      -                                                                  -                                                                    (5 )                                                                (230 )                                                                (235 )
   Severance, spin-off costs and other items                                                                    -        (16 )                        (21 )                           (24 )                           (61 )                                                                 (14 )                         (6 )                           (95 )                            (3 )                          (118 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Total Corporate                                                                                              -        (16 )                        (21 )                        (1,382 )                        (1,419 )                                                                 (25 )                         (6 )                           (98 )                          (232 )                          (361 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Taxes                                                                                                         (26 )                         (50 )                         23          980          927                                                112       (13 )                           667        1,137        1,903  
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Income From Continuing Operations                                                                                                 40                                                                  76                                                                (51 )                                                              (3,992 )                                                              (3,927 )                                                                                   (246 )                                                               15                                                                (2,630 )                                                              (5,376 )                                                              (8,237 )
Discontinued Operations                                                                                       255        273       213           19          760                                                 (3 )                         (4 )                            (3 )                           327          317  
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Totals                                                                                                                         $ 295                        $  349                        $ 162                        $ (3,973 )                                         $ (3,167 )                                                                                 $ (249 )                                         $  11                        $ (2,633 )                                         $ (5,049 )                                         $ (7,920 )
                                                                                                            ==================== === ==================== ==================== ==================== ==== ==================== ==================== ==================== === ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ==== ==================== ==================== ==================== === ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                             
                                                                                                            ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                          2014                                                                                                                                                                                                                                                                                                                                                                         2015
                                                                                                            ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
            After Tax Allocations                                                                                                Qtr 1                                           Qtr 2                                            Qtr 3                                            Qtr 4                                               YTD                                                                                      Qtr 1                                            Qtr 2                                            Qtr 3                                              Qtr 4                                               YTD
--------------------------------------------                                                                -------------------------------------------   -------------------- --------------------------------------------   -------------------- -------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------                                             --------------------------------------------   -------------------- -------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------   -------------------- ----------------------------------------------
Oil & Gas
   Domestic
      Asset sales gains (losses)                                                                                               $   -                                                              $  341                                                              $  (2 )                                                            $     (1 )                                                            $    338                                                                                   $   (8 )                                                            $  11                                                              $     (1 )                                                            $      3                                                              $      5
      Asset impairments and related items                                                                       -       (300 )                          -       (2,750 )                        (3,050 )                                                                (169 )                          9       (1,185 )                          (867 )                        (2,212 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                   -                                                                  41                                                                 (2 )                                                              (2,751 )                                                              (2,712 )                                                                                   (177 )                                                               20                                                                (1,186 )                                                                (864 )                                                              (2,207 )
   Foreign
                                                                                                                -          -         -       (1,055 )                        (1,055 )                                                                 (46 )                         (1 )                        (1,438 )                        (3,420 )                        (4,905 )
      Asset impairments and related items
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Total Oil and Gas                                                                                            -         41        (2 )                        (3,806 )                        (3,767 )                                                                (223 )                         19       (2,624 )                        (4,284 )                        (7,112 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Chemical
   Asset sale gain                                                                                                                 -                                                                   -                                                                  -                                                                     -                                                                     -                                                                                        -                                                                  -                                                                    63                                                                     -                                                                    63
   Asset impairments                                                                                            -          -         -          (94 )                           (94 )                                                                   -         -            -          (78 )                           (78 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Total Chemical                                                                                               -          -         -          (94 )                           (94 )                                                -         -           63          (78 )                           (15 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Midstream and marketing
   Asset sales gains                                                                                                               -                                                                   -                                                                  -                                                                 1,264                                                                 1,264                                                                                        -                                                                  -                                                                     -                                                                     -                                                                     -
   Asset impairments and related items                                                                         40         47       (30 )                           (39 )                            18                                                 (4 )                          2           (4 )                          (807 )                          (813 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Total Midstream                                                                                             40         47       (30 )                         1,225        1,282                                                 (4 )                          2           (4 )                          (807 )                          (813 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Corporate
   Asset sales gains (losses)                                                                                                      -                                                                   -                                                                  -                                                                     -                                                                     -                                                                                       (7 )                                                                -                                                                     1                                                                     1                                                                    (5 )
   Asset impairments                                                                                                               -                                                                   -                                                                  -                                                                (1,240 )                                                              (1,240 )                                                                                      -                                                                  -                                                                    (5 )                                                                (229 )                                                                (234 )
   Severance, spin-off costs and other items                                                                    -        (12 )                        (19 )                           (21 )                           (52 )                                                                 (12 )                         (6 )                           (61 )                             3          (76 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Total Corporate                                                                                              -        (12 )                        (19 )                        (1,261 )                        (1,292 )                                                                 (19 )                         (6 )                           (65 )                          (225 )                          (315 )
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Taxes                                                                                                           -          -         -          (56 )                           (56 )                                                                   -         -            -           18           18  
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Income From Continuing Operations                                                                                                 40                                                                  76                                                                (51 )                                                              (3,992 )                                                              (3,927 )                                                                                   (246 )                                                               15                                                                (2,630 )                                                              (5,376 )                                                              (8,237 )
Discontinued Operations                                                                                       255        273       213           19          760                                                 (3 )                         (4 )                            (3 )                           327          317  
                                                                                                            -------------------- --- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ---- -------------------- -------------------- -------------------- --- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Totals                                                                                                                         $ 295                        $  349                        $ 162                        $ (3,973 )                                         $ (3,167 )                                                                                 $ (249 )                                         $  11                        $ (2,633 )                                         $ (5,049 )                                         $ (7,920 )
                                                                                                            ==================== === ==================== ==================== ==================== ==== ==================== ==================== ==================== === ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ==== ==================== ==================== ==================== === ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                     Schedule 4
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                     Occidental Petroleum Corporation
                                                                                                                                                                                                                                     Consolidated Condensed Statements of Operations
                                                                                                                                                                                                                                     (Amounts in millions, except per-share amounts)
                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                   ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                    2014                                                                                                                                                                                                                                                                                                                                                                            2015
                                                                                                                                   ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                         Qtr 1                                             Qtr 2                                             Qtr 3                                             Qtr 4                                               YTD                                                                                       Qtr 1                                             Qtr 2                                             Qtr 3                                              Qtr 4                                               YTD
                                                                                                                                   -------------------------------------------------------------------- -------------------------------------------------------------------- -------------------------------------------------------------------- --------------------------------------------------------------------- -------------------------------------------------                                          -------------------------------------------------------------------- -------------------------------------------------------------------- --------------------------------------------------------------------- --------------------------------------------------------------------- -------------------------------------------------
REVENUES
   Net sales
      Oil and gas                                                                                                                                     $ 3,602                                                              $ 3,703                                                              $ 3,586                                                              $  2,996                                                              $ 13,887                                                                                   $ 2,009                                                              $ 2,342                                                              $  2,054                                                              $  1,899                                                              $  8,304
      Chemical                                                                                                                                          1,220                                                                1,242                                                                1,232                                                                 1,123                                                                 4,817                                                                                     1,000                                                                1,030                                                                 1,008                                                                   907                                                                 3,945
      Midstream and marketing                                                                                                                             340                                                                  440                                                                  261                                                                   332                                                                 1,373                                                                                       197                                                                  294                                                                   231                                                                   169                                                                   891
      Eliminations                                                                                                                    (194 )                         (252 )                         (175 )                          (144 )                          (765 )                                                                 (117 )                         (197 )                          (177 )                          (169 )                          (660 )
                                                                                                                                   -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                                        4,968                                                                5,133                                                                4,904                                                                 4,307                                                                19,312                                                                                     3,089                                                                3,469                                                                 3,116                                                                 2,806                                                                12,480
   Interest, dividends and other income                                                                                                                    30                                                                   47                                                                   31                                                                    22                                                                   130                                                                                        31                                                                   26                                                                    31                                                                    30                                                                   118
   Gain (loss) on sale of assets and equity investments, net                                                                             -         525          (5 )                         1,985        2,505                                                 (24 )                           19           99            7          101  
                                                                                                                                   -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                     4,998       5,705       4,930        6,314       21,947                                               3,096       3,514        3,246        2,843       12,699  
                                                                                                                                   -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
COSTS AND OTHER DEDUCTIONS
   Cost of sales                                                                                                                                        1,643                                                                1,691                                                                1,736                                                                 1,733                                                                 6,803                                                                                     1,557                                                                1,480                                                                 1,413                                                                 1,354                                                                 5,804
   Depreciation, depletion and amortization                                                                                                               977                                                                1,024                                                                1,056                                                                 1,204                                                                 4,261                                                                                     1,029                                                                1,116                                                                 1,123                                                                 1,276                                                                 4,544
   Selling, general and administrative and other operating expenses                                                                                       317                                                                  429                                                                  355                                                                   402                                                                 1,503                                                                                       311                                                                  347                                                                   292                                                                   320                                                                 1,270
   Asset impairments and related items                                                                                                                      -                                                                  471                                                                    -                                                                 6,908                                                                 7,379                                                                                       324                                                                    -                                                                 3,397                                                                 6,518                                                                10,239
   Taxes other than on income                                                                                                                             151                                                                  144                                                                  135                                                                   120                                                                   550                                                                                       107                                                                  107                                                                    79                                                                    50                                                                   343
   Exploration expense                                                                                                                                     24                                                                   39                                                                   28                                                                    59                                                                   150                                                                                         8                                                                   10                                                                     5                                                                    13                                                                    36
   Interest and debt expense, net                                                                                                       22          20          16           19           77                                                  30           8           48           61          147  
                                                                                                                                   -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                                                                                     3,134       3,818       3,326       10,445       20,723                                               3,366       3,068        6,357        9,592       22,383  
                                                                                                                                   -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
INCOME (LOSS) BEFORE INCOME TAXES AND OTHER ITEMS                                                                                                       1,864                                                                1,887                                                                1,604                                                                (4,131 )                                                               1,224                                                                                      (270 )                                                                446                                                                (3,111 )                                                              (6,749 )                                                              (9,684 )
Benefit from (provision for) domestic and foreign income taxes                                                                                           (794 )                                                               (809 )                                                               (699 )                                                                 617                                                                (1,685 )                                                                                      19                                                                 (324 )                                                                 445                                                                 1,190                                                                 1,330
Income from equity investments                                                                                                          67          83          93           88          331                                                  36          58           60           54          208  
                                                                                                                                   -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
INCOME (LOSS) FROM CONTINUING OPERATIONS                                                                                                                1,137                                                                1,161                                                                  998                                                                (3,426 )                                                                (130 )                                                                                    (215 )                                                                180                                                                (2,606 )                                                              (5,505 )                                                              (8,146 )
Discontinued operations, net                                                                                                           255         273         213           19          760                                                  (3 )                           (4 )                            (3 )                           327          317  
                                                                                                                                   -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
NET INCOME (LOSS)                                                                                                                                       1,392                                                                1,434                                                                1,211                                                                (3,407 )                                                                 630                                                                                      (218 )                                                                176                                                                (2,609 )                                                              (5,178 )                                                              (7,829 )
   Less: Net income (loss) attributable to noncontrolling interest                                                                      (2 )                           (3 )                           (3 )                            (6 )                           (14 )                                                                    -           -            -            -            -  
                                                                                                                                   -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK                                                                                                        $ 1,390                        $ 1,431                        $ 1,208                        $ (3,413 )                                         $    616                                                                $  (218 )                                         $   176                        $ (2,609 )                                         $ (5,178 )                                         $ (7,829 )
                                                                                                                                   ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
EARNINGS PER SHARE (attributable to common stock)
   BASIC EARNINGS PER COMMON SHARE
      Income (loss) from continuing operations                                                                                                        $  1.43                                                              $  1.48                                                              $  1.28                                                              $  (4.44 )                                                            $  (0.18 )                                                                                 $ (0.28 )                                                            $  0.23                                                              $  (3.41 )                                                            $  (7.21 )                                                            $ (10.64 )
      Discontinued operations, net                                                                                                    0.32        0.35        0.27         0.03         0.97                                                   -           -        (0.01 )                          0.43         0.41  
                                                                                                                                   -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   BASIC EARNINGS PER COMMON SHARE                                                                                                                    $  1.75                        $  1.83                        $  1.55                        $  (4.41 )                                         $   0.79                                                                $ (0.28 )                                         $  0.23                        $  (3.42 )                                         $  (6.78 )                                         $ (10.23 )
                                                                                                                                   ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
   DILUTED EARNINGS PER COMMON SHARE                                                                                                                  $  1.75                        $  1.82                        $  1.55                        $  (4.41 )                                         $   0.79                                                                $ (0.28 )                                         $  0.23                        $  (3.42 )                                         $  (6.78 )                                         $ (10.23 )
                                                                                                                                   ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
DIVIDENDS PER COMMON SHARE                                                                                                                            $  0.72                        $  0.72                        $  0.72                        $   0.72                        $   2.88                                                                $  0.72                        $  0.75                        $   0.75                        $   0.75                        $   2.97  
                                                                                                                                   ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
AVERAGE COMMON SHARES OUTSTANDING
   BASIC                                                                                                                                                791.3                                                                782.6                                                                777.4                                                                 773.1                                                                 781.1                                                                                     769.6                                                                766.4                                                                 763.3                                                                 763.2                                                                 765.6
   DILUTED                                                                                                                                              791.7                                                                782.9                                                                777.7                                                                 773.4                                                                 781.1                                                                                     769.6                                                                766.6                                                                 763.3                                                                 763.2                                                                 765.6
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                     Schedule 5
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                     Occidental Petroleum Corporation
                                                                                                                                                                                                                                     Consolidated Condensed Balance Sheets
                                                                                                                                                                                                                                     (Amounts in millions)
                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                       ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                        2014                                                                                                                                                                                                                                                                                                             2015
                                                                                                                       ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                               MAR                                                                    JUN                                                                    SEP                                                                    DEC                                                                                         MAR                                                                    JUN                                                                    SEP                                                                    DEC
                                                                                                                       --------------------------------------------------                     --------------------------------------------------                     --------------------------------------------------                     --------------------------------------------------                                          --------------------------------------------------                     --------------------------------------------------                     --------------------------------------------------                     --------------------------------------------------
CURRENT ASSETS
   Cash and cash equivalents                                                                                                              $   2,332                                                              $   2,391                                                              $   2,897                                                              $   3,789                                                                                   $   2,153                                                              $   2,756                                                              $   2,547                                                              $   3,201
   Restricted cash                                                                                                                                -                                                                      -                                                                      -                                                                  4,019                                                                                       3,265                                                                  2,382                                                                  1,765                                                                  1,193
   Trade receivables, net                                                                                                                     5,233                                                                  5,826                                                                  4,960                                                                  4,206                                                                                       3,068                                                                  3,973                                                                  3,507                                                                  2,970
   Inventories                                                                                                                                1,308                                                                  1,323                                                                  1,359                                                                  1,052                                                                                       1,133                                                                  1,120                                                                  1,122                                                                    986
   Assets held for sale                                                                                                                           -                                                                      -                                                                      -                                                                      -                                                                                           -                                                                      -                                                                    709                                                                    141
   Other current assets                                                                                                    2,026         1,246         1,291           807                                                   815           777           890         1,182  
                                                                                                                       -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                           -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
      Total current assets                                                                                                                   10,899                                                                 10,786                                                                 10,507                                                                 13,873                                                                                      10,434                                                                 11,008                                                                 10,540                                                                  9,673
INVESTMENTS
   Investments in unconsolidated entities                                                                                                     1,511                                                                  1,547                                                                  1,544                                                                  1,171                                                                                       1,221                                                                  1,330                                                                  1,428                                                                  1,267
   Available for sale investment                                                                                               -             -             -           394                                                   544           432           186           167  
                                                                                                                       -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                           -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
      Total investments                                                                                                                       1,511                                                                  1,547                                                                  1,544                                                                  1,565                                                                                       1,765                                                                  1,762                                                                  1,614                                                                  1,434
PROPERTY, PLANT AND EQUIPMENT
   Property, plant and equipment                                                                                                             89,790                                                                 92,135                                                                 94,771                                                                 74,515                                                                                      75,979                                                                 77,375                                                                 73,447                                                                 71,058
   Accumulated depreciation, depletion and amortization                                                                  (33,746 )                        (35,001 )                        (36,306 )                        (34,785 )                                                                (35,870 )                        (36,897 )                        (36,612 )                        (39,419 )
                                                                                                                       -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                           -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
                                                                                                                                             56,044                                                                 57,134                                                                 58,465                                                                 39,730                                                                                      40,109                                                                 40,478                                                                 36,835                                                                 31,639
LONG-TERM RECEIVABLES AND OTHER ASSETS, NET                                                                                  821           826           994         1,091                                                 1,081         1,121         1,100           962  
                                                                                                                       -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                           -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
TOTAL ASSETS                                                                                                                              $  69,275                        $  70,293                        $  71,510                        $  56,259                                                                $  53,389                        $  54,369                        $  50,089                        $  43,708  
                                                                                                                       ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ====================                                           ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
CURRENT LIABILITIES
   Current maturities of long-term debt                                                                                                   $       -                                                              $       -                                                              $   1,599                                                              $       -                                                                                   $     700                                                              $   1,450                                                              $   1,450                                                              $   1,450
   Accounts payable                                                                                                                           5,423                                                                  6,097                                                                  5,511                                                                  5,229                                                                                       3,867                                                                  4,145                                                                  3,727                                                                  3,070
   Accrued liabilities                                                                                                                        2,441                                                                  2,332                                                                  2,337                                                                  2,601                                                                                       2,152                                                                  2,230                                                                  2,202                                                                  2,213
   Domestic and foreign income taxes                                                                                                            326                                                                    440                                                                     74                                                                    414                                                                                         196                                                                      -                                                                     25                                                                      -
   Liabilities of assets held for sale                                                                                         -             -             -             -                                                     -             -            29           110  
                                                                                                                       -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                           -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
      Total current liabilities                                                                                                               8,190                                                                  8,869                                                                  9,521                                                                  8,244                                                                                       6,915                                                                  7,825                                                                  7,433                                                                  6,843
LONG-TERM DEBT, NET                                                                                                                           6,877                                                                  6,835                                                                  6,837                                                                  6,838                                                                                       6,139                                                                  6,880                                                                  6,882                                                                  6,883
DEFERRED CREDITS AND OTHER LIABILITIES
   Deferred domestic and foreign income taxes                                                                                                 7,398                                                                  7,313                                                                  7,634                                                                  3,015                                                                                       2,947                                                                  3,153                                                                  2,579                                                                  1,593
   Other                                                                                                                   3,441         3,464         3,433         3,203                                                 3,224         3,209         3,313         4,039  
                                                                                                                       -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                           -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
                                                                                                                                             10,839                                                                 10,777                                                                 11,067                                                                  6,218                                                                                       6,171                                                                  6,362                                                                  5,892                                                                  5,632
STOCKHOLDERS’ EQUITY
   Common stock, $.20 per share par value                                                                                                       178                                                                    178                                                                    178                                                                    178                                                                                         178                                                                    178                                                                    178                                                                    178
   Treasury stock                                                                                                                            (7,079 )                                                               (7,681 )                                                               (8,146 )                                                               (8,528 )                                                                                    (8,734 )                                                               (9,107 )                                                               (9,113 )                                                               (9,121 )
   Additional paid-in capital                                                                                                                 7,543                                                                  7,564                                                                  7,570                                                                  7,599                                                                                       7,632                                                                  7,651                                                                  7,664                                                                  7,640
   Retained earnings                                                                                                                         42,652                                                                 43,519                                                                 44,166                                                                 36,067                                                                                      35,294                                                                 34,896                                                                 31,712                                                                 25,960
   Accumulated other comprehensive loss                                                                                                        (296 )                                                                 (291 )                                                                 (289 )                                                                 (357 )                                                                                      (206 )                                                                 (316 )                                                                 (559 )                                                                 (307 )
   Non-controlling interest                                                                                                  371           523           606             -                                                     -             -             -             -  
                                                                                                                       -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                           -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
      Total equity                                                                                                        43,369        43,812        44,085        34,959                                                34,164        33,302        29,882        24,350  
                                                                                                                       -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                           -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                               $  69,275                        $  70,293                        $  71,510                        $  56,259                                                                $  53,389                        $  54,369                        $  50,089                        $  43,708  
                                                                                                                       ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ====================                                           ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ==================== ==================== ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                     Schedule 6
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
 
                                                                                                                                                                                                               Occidental Petroleum Corporation
                                                                                                                                                                                                Condensed Statements of Cash Flows and Details of Depreciation,
                                                                                                                                                                                                      Depletion and Amortization and Capital Expenditures
                                                                                                                                                                                                                     (Amounts in millions)
                                                                                                                                                                                             
                                                                                                                              --------------------------------------------------------------------------------------------------------------------------------------                                          -------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                               2014                                                                                                                                                                                 2015
                                                                                                                              --------------------------------------------------------------------------------------------------------------------------------------                                          -------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                 Qtr 1       Qtr 2       Qtr 3       Qtr 4        YTD                                                Qtr 1       Qtr 2       Qtr 3       Qtr 4             YTD
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
OPERATING CASH FLOW                                                                                                                                                                                                                                                              
   Net income (loss)                                                                                                            $ 1,392                        $ 1,434                        $ 1,211                      $ (3,407)                          $ 630                                             $ (218)                          $ 176                      $ (2,609)                      $ (5,178)                                 $ (7,829)
   Depreciation, depletion and amortization (see detail below)                                                                      977                          1,024                          1,056                          1,204                          4,261                                               1,029                          1,116                          1,123                          1,276                                     4,544
   Deferred income tax provision                                                                                                    125                          (182)                            277                        (1,398)                        (1,178)                                                (63)                            202                          (556)                          (955)                                   (1,372)
   Asset impairments and other non-cash charges                                                                                   (200)       (206)       (203)       4,975       4,366                                                 373          23       3,244       5,801                  9,441
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
   Operating cash flow before working capital                                                                                     2,294                          2,070                          2,341                          1,374                          8,079                                               1,121                          1,517                          1,202                            944                                     4,784
   Working capital changes                                                                                                        (252)                            204                          (267)                          1,107                            792                                               (555)                          (399)                             16                             58                                     (880)
   Other, net (a)                                                                                                                     -           -           -           -           -                                                   -       (307)       (192)       (151)                  (650)
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
   Operating cash flow from continuing operations                                                                                 2,042       2,274       2,074       2,481       8,871                                                 566         811       1,026         851                  3,254
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                           
INVESTING CASH FLOW
   Capital expenditures (see detail below)                                                                                      (1,732)                        (2,001)                        (2,003)                        (2,984)                        (8,720)                                             (1,735)                        (1,488)                        (1,219)                        (1,170)                                   (5,612)
   Payment for purchases of assets and businesses                                                                                   (4)                          (303)                           (45)                        (1,335)                        (1,687)                                                 (6)                           (37)                            (9)                           (57)                                     (109)
   Sales of assets and equity investments, net                                                                                        -                          1,371                             16                          2,790                          4,177                                                  20                             38                             93                            668                                       819
   Changes in capital accrual                                                                                                         -                              -                              -                            542                            542                                               (458)                          (127)                           (67)                             60                                     (592)
   Other investing activities                                                                                                      (35)        (70)        (17)        (63)       (185)                                                (27)        (69)        (27)         194                     71
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
   Investing cash flow from continuing operations                                                                               (1,771)     (1,003)     (2,049)     (1,050)     (5,873)                                             (2,206)     (1,683)     (1,229)       (305)                (5,423)
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                           
FINANCING CASH FLOW
   Cash dividends paid                                                                                                            (514)                          (570)                          (565)                          (561)                        (2,210)                                               (557)                          (556)                          (577)                          (574)                                   (2,264)
   Purchases of treasury stock                                                                                                    (946)                          (630)                          (507)                          (417)                        (2,500)                                               (207)                          (329)                           (50)                            (8)                                     (594)
   Special cash distribution from California Resources                                                                                -                              -                              -                          6,100                          6,100                                                   -                              -                              -                              -                                         -
   Proceeds from short-term borrowings                                                                                                -                              -                          1,599                        (1,599)                              -                                                   -                              -                              -                              -                                         -
   Proceeds from long-term debt                                                                                                       -                              -                              -                              -                              -                                                   -                          1,478                              -                              1                                     1,479
   Other financing activities                                                                                                      (48)        (42)           9          13        (68)                                                  19           5          10           3                     37
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
   Financing cash flow from continuing operations                                                                               (1,508)     (1,242)         536       3,536       1,322                                               (745)         598       (617)       (578)                (1,342)
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                           
Cash Flow From Discontinued Operations                                                                                              176                             30                           (55)                           (56)                             95                                                 (5)                            (6)                            (6)                            114                                        97
                                                                                                                                                                                                                                                                                                                                                                                                                                           
Increase (decrease) in cash                                                                                                     (1,061)                             59                            506                          4,911                          4,415                                             (2,390)                          (280)                          (826)                             82                                   (3,414)
Cash, cash equivalents and restricted cash (b) - beg of period                                                                    3,393       2,332       2,391       2,897       3,393                                               7,808       5,418       5,138       4,312                  7,808
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
Cash, cash equivalents and restricted cash (b) - end of period                                                                  $ 2,332     $ 2,391     $ 2,897     $ 7,808     $ 7,808                                             $ 5,418     $ 5,138     $ 4,312     $ 4,394                $ 4,394
                                                                                                                              ========= ==================== ========= ==================== ========= ==================== ========= ==================== =========                                           ========= ==================== ========= ==================== ========= ==================== ========= ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                           
Depreciation, Depletion and Amortization
   Oil & Gas                                                                                                                     Qtr 1       Qtr 2       Qtr 3       Qtr 4        YTD                                                Qtr 1       Qtr 2       Qtr 3       Qtr 4             YTD
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
      United States                                                                                                               $ 503                          $ 519                          $ 537                          $ 555                        $ 2,114                                               $ 502                          $ 541                          $ 556                          $ 510                                   $ 2,109
      Latin America                                                                                                                  42                             35                             40                             44                            161                                                  48                             49                             48                             51                                       196
      Middle East/North Africa                                                                                                      297                            331                            340                            458                          1,426                                                 329                            370                            345                            537                                     1,581
   Chemical                                                                                                                          89                             93                             91                             94                            367                                                  92                             92                             94                             93                                       371
   Midstream and marketing                                                                                                           39                             38                             38                             45                            160                                                  48                             55                             71                             75                                       249
   Corporate                                                                                                                          7           8          10           8          33                                                  10           9           9          10                     38
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
                                                                                                                                  $ 977     $ 1,024     $ 1,056     $ 1,204     $ 4,261                                             $ 1,029     $ 1,116     $ 1,123     $ 1,276                $ 4,544
                                                                                                                              ========= ==================== ========= ==================== ========= ==================== ========= ==================== =========                                           ========= ==================== ========= ==================== ========= ==================== ========= ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                           
Capital Expenditures
   Oil & Gas
      Permian Resources                                                                                                         $ (328)                        $ (401)                        $ (472)                        $ (715)                      $ (1,916)                                             $ (729)                        $ (555)                        $ (521)                        $ (426)                                 $ (2,231)
      Permian EOR                                                                                                                 (164)                          (193)                          (210)                          (155)                          (722)                                               (115)                          (119)                          (102)                           (88)                                     (424)
      Other domestic                                                                                                              (231)                          (219)                          (205)                          (257)                          (912)                                                (86)                           (21)                              -                            (2)                                     (109)
      Latin America                                                                                                                (67)                           (74)                           (69)                          (100)                          (310)                                                (47)                           (45)                           (24)                           (34)                                     (150)
      Middle East/North Africa                                                                                                    (454)                          (554)                          (527)                          (614)                        (2,149)                                               (476)                          (449)                          (242)                          (245)                                   (1,412)
      Exploration Drilling                                                                                                         (88)                          (125)                          (160)                          (150)                          (523)                                                (58)                           (30)                           (15)                           (13)                                     (116)
   Chemical                                                                                                                        (41)                           (71)                           (61)                          (141)                          (314)                                                (40)                           (57)                           (58)                           (99)                                     (254)
   Midstream and marketing                                                                                                        (399)                          (462)                          (311)                          (811)                        (1,983)                                               (115)                          (105)                          (155)                          (160)                                     (535)
   Corporate                                                                                                                       (23)        (30)        (21)        (27)       (101)                                                 (9)         (9)        (10)        (13)                   (41)
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
   GAAP external reporting                                                                                                      (1,795)                        (2,129)                        (2,036)                        (2,970)                        (8,930)                                             (1,675)                        (1,390)                        (1,127)                        (1,080)                                   (5,272)
   Non-controlling interest contributions (c)                                                                                       123                            149                             74                             29                            375                                                   -                              -                              -                              -                                         -
   Cracker JV investment contributions                                                                                             (60)        (21)        (41)        (43)       (165)                                                (60)        (98)        (92)        (90)                  (340)
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
                                                                                                                              $ (1,732)   $ (2,001)   $ (2,003)   $ (2,984)   $ (8,720)                                           $ (1,735)   $ (1,488)   $ (1,219)   $ (1,170)              $ (5,612)
                                                                                                                              ========= ==================== ========= ==================== ========= ==================== ========= ==================== =========                                           ========= ==================== ========= ==================== ========= ==================== ========= ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                           
Reconciliation of non-GAAP disclosures to GAAP                                                                                   Qtr 1       Qtr 2       Qtr 3       Qtr 4        YTD                                                Qtr 1       Qtr 2       Qtr 3       Qtr 4             YTD
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
Condensed Statements of Cash Flows
CASH FLOW FROM OPERATING ACTIVITIES
   Continuing operations                                                                                                        $ 2,042                        $ 2,274                        $ 2,074                        $ 2,481                        $ 8,871                                               $ 566                          $ 811                        $ 1,026                          $ 851                                   $ 3,254
   Discontinued operations                                                                                                          655                            593                            564                            385                          2,197                                                 (5)                            (6)                            (6)                            114                                        97
CASH FLOW FROM INVESTING ACTIVITIES
   Continuing operations                                                                                                        (1,894)                        (1,152)                        (2,123)                        (1,075)                        (6,244)                                             (2,206)                        (1,683)                        (1,229)                          (305)                                   (5,423)
   Discontinued operations                                                                                                        (479)                          (563)                          (619)                          (565)                        (2,226)                                                   -                              -                              -                              -                                         -
CASH FLOW FROM FINANCING ACTIVITIES
   Continuing operations                                                                                                        (1,385)                        (1,093)                            610                          (458)                        (2,326)                                                   9                          1,481                              -                            (6)                                     1,484
   Discontinued operations                                                                                                            -           -           -         124         124                                                   -           -           -           -                      -
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
Increase (decrease) in cash and cash equivalents                                                                                (1,061)                             59                            506                            892                            396                                             (1,636)                            603                          (209)                            654                                     (588)
Cash and cash equivalents - beginning of period                                                                                   3,393       2,332       2,391       2,897       3,393                                               3,789       2,153       2,756       2,547                  3,789
                                                                                                                              --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- ---------                                           --------- -------------------- --------- -------------------- --------- -------------------- --------- -------------------- --------------------
Cash and cash equivalents - end of period                                                                                       $ 2,332     $ 2,391     $ 2,897     $ 3,789     $ 3,789                                             $ 2,153     $ 2,756     $ 2,547     $ 3,201                $ 3,201
                                                                                                                              ========= ==================== ========= ==================== ========= ==================== ========= ==================== =========                                           ========= ==================== ========= ==================== ========= ==================== ========= ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                           
(a) Other, net for 2015 represents the current cash benefit on the
2015 NOL carryback in excess of 2014 Federal tax due. 2015
includes $293 million receivable expected to be collected in 2016.
(b) Restricted cash must be used solely to pay dividends,
repurchase common stock, repay debt, or a combination of the
foregoing.
(c) Disclosed as financing cash flows in GAAP cash flow statements.
 
 
                                                                                                                                                                                                                                     Schedule 7
                                                                                                                                                                                                                                                                                                                                                                                                                                           
 
                                                                                                                                                                             Occidental Petroleum Corporation
                                                                                                                                                            Oil & Gas Net Production Volumes Per Day by Geographical Locations
                                                                                                              
                                                                                                                                                                                                                                        
                                                                                                ----------------------------------------------------------------------------------------------------------------                                          ---------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                      2014                                                                                                                                                              2015
                                                                                                ----------------------------------------------------------------------------------------------------------------                                          ---------------------------------------------------------------------------------------------------------------------------------
NET MBOE VOLUMES PER DAY:                                                                        Qtr 1   Qtr 2   Qtr 3   Qtr 4   YTD                                           Qtr 1   Qtr 2   Qtr 3   Qtr 4           YTD
                                                                                                ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- ---                                           ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- --------------------
United States
   Permian Resources                                                                               67                         72                         77                         84                       75                                              98                        109                        116                        118                                       110
   Permian EOR                                                                                    145                        144                        148                        150                      147                                             145                        145                        144                        143                                       145
   Midcontinent & Other                                                                            71      70      69      67    70                                              64      60      55      51                     57
                                                                                                ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- ---                                           ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- --------------------
   Total                                                                                          283                        286                        294                        301                      292                                             307                        314                        315                        312                                       312
                                                                                                                                                                                                                                                                                                                                                                       
Latin America                                                                                      31                         21                         31                         34                       29                                              40                         42                         27                         39                                        37
                                                                                                                                                                                                                                                                                                                                                                       
Middle East / North Africa
   Al Hosn                                                                                          -                          -                          -                          -                        -                                               9                         18                         50                         60                                        35
   Dolphin                                                                                         34                         38                         38                         40                       38                                              39                         42                         41                         43                                        41
   Oman                                                                                            73                         76                         75                         80                       76                                              89                         87                         93                         88                                        89
   Qatar                                                                                           68                         69                         69                         70                       69                                              64                         65                         67                         69                                        66
   Other                                                                                           65      68      67      71    67                                              78      71      79      60                     72
                                                                                                ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- ---                                           ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- --------------------
   Total                                                                                          240                        251                        249                        261                      250                                             279                        283                        330                        320                                       303
                                                                                                                                                                                                                                                                                                                                                                       
Ongoing operations                                                                                554                        558                        574                        596                      571                                             626                        639                        672                        671                                       652
Sold assets - Hugoton                                                                              18                          6                          -                          -                        6                                               -                          -                          -                          -                                         -
Sold assets - Williston                                                                            19      22      21      20    20                                              19      19      17       9                     16
                                                                                                ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- ---                                           ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- --------------------
Barrels of Oil Equivalent (MBOE)                                                                  591     586     595     616   597                                             645     658     689     680                    668
                                                                                                ===== ==================== ===== ==================== ===== ==================== ===== ==================== ===                                           ===== ==================== ===== ==================== ===== ==================== ===== ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                       
NET PRODUCTION VOLUMES PER DAY
   BY COMMODITY:
United States
   Oil (MBBL)
      Permian Resources                                                                            37                         40                         43                         51                       43                                              62                         71                         74                         76                                        71
      Permian EOR                                                                                 110                        110                        111                        112                      111                                             111                        110                        108                        109                                       110
      Midcontinent & Other                                                                          8       9       8       8     8                                               7       7       6       5                      6
                                                                                                ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- ---                                           ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- --------------------
      Total                                                                                       155                        159                        162                        171                      162                                             180                        188                        188                        190                                       187
   NGLs (MBBL)
      Permian Resources                                                                            11                         12                         13                         13                       12                                              14                         15                         18                         18                                        16
      Permian EOR                                                                                  28                         29                         30                         31                       30                                              28                         29                         30                         28                                        29
      Midcontinent & Other                                                                         13      11      12      11    12                                              11      10      10      10                     10
                                                                                                ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- ---                                           ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- --------------------
      Total                                                                                        52                         52                         55                         55                       54                                              53                         54                         58                         56                                        55
   Natural Gas (MMCF)
      Permian Resources                                                                           115                        120                        121                        122                      120                                             130                        136                        143                        143                                       137
      Permian EOR                                                                                  38                         34                         42                         39                       38                                              37                         38                         37                         35                                        37
      Midcontinent & Other                                                                        300     300     293     290   296                                             275     258     235     217                    246
                                                                                                ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- ---                                           ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- --------------------
      Total                                                                                       453                        454                        456                        451                      454                                             442                        432                        415                        395                                       420
                                                                                                                                                                                                                                                                                                                                                                       
Latin America
   Oil (MBBL)                                                                                      29                         19                         29                         32                       27                                              38                         40                         25                         38                                        35
   Natural Gas (MMCF)                                                                              12                         12                         12                         10                       11                                              12                         10                          9                          8                                        10
                                                                                                                                                                                                                                                                                                                                                                       
Middle East / North Africa
   Oil (MBBL)
      Al Hosn                                                                                       -                          -                          -                          -                        -                                               2                          4                          9                         11                                         7
      Dolphin                                                                                       6                          7                          7                          7                        7                                               7                          7                          7                          8                                         7
      Oman                                                                                         66                         70                         67                         72                       69                                              80                         81                         85                         81                                        82
      Qatar                                                                                        68                         69                         69                         70                       69                                              64                         65                         67                         69                                        66
      Other                                                                                        27      28      28      31    28                                              37      31      39      23                     32
                                                                                                ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- ---                                           ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- --------------------
      Total                                                                                       167                        174                        171                        180                      173                                             190                        188                        207                        192                                       194
   NGLs (MBBL)
      Al Hosn                                                                                       -                          -                          -                          -                        -                                               2                          4                         14                         18                                        10
      Dolphin                                                                                       6       7       7       8     7                                               7       8       8       8                      8
                                                                                                ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- ---                                           ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- --------------------
      Total                                                                                         6                          7                          7                          8                        7                                               9                         12                         22                         26                                        18
   Natural Gas (MMCF)
      Al Hosn                                                                                       -                          -                          -                          -                        -                                              30                         60                        162                        185                                       109
      Dolphin                                                                                     131                        144                        146                        152                      143                                             150                        160                        158                        162                                       158
      Oman                                                                                         40                         40                         45                         49                       43                                              56                         38                         45                         41                                        44
      Other                                                                                       231     236     235     240   236                                             245     240     242     222                    237
                                                                                                ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- ---                                           ----- -------------------- ----- -------------------- ----- -------------------- ----- -------------------- --------------------
      Total                                                                                       402                        420                        426                        441                      422                                             481                        498                        607                        610                                       548
                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                     Schedule 8
                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                     Occidental Petroleum Corporation
                                                                                                                                                                                                                                     Oil & Gas Sales Volumes Per Day and Realized Prices by
                                                                                                                                                                                                                                     Geographical Locations
                                            
                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                      ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                     ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                       2014                                                                                                                                                                                                                                                                                                                                                       2015
                                                                                                      ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                     ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
NET SALES MBOE VOLUMES PER DAY:                                                                                             Qtr 1                                              Qtr 2                                              Qtr 3                                              Qtr 4                                              YTD                                                                 Qtr 1                                             Qtr 2                                             Qtr 3                                             Qtr 4                                              YTD
                                                                                                      --------------------------------------------------------------------- --------------------------------------------------------------------- --------------------------------------------------------------------- -------------------------------------------------------------------- ------------------------------------------------                     -------------------------------------------------------------------- -------------------------------------------------------------------- -------------------------------------------------------------------- -------------------------------------------------------------------- -------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
United States                                                                                                                 283                                                                   286                                                                   294                                                                  301                                                                  292                                                                  307                                                                  314                                                                  315                                                                  312                                                                   312
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Latin America                                                                                                                  34                                                                    26                                                                    31                                                                   34                                                                   31                                                                   38                                                                   37                                                                   36                                                                   37                                                                    37
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Middle East / North Africa
   Al Hosn                                                                                                                      -                                                                     -                                                                     -                                                                    -                                                                    -                                                                    9                                                                   18                                                                   50                                                                   60                                                                    35
   Dolphin                                                                                                                     34                                                                    38                                                                    38                                                                   39                                                                   38                                                                   40                                                                   42                                                                   41                                                                   43                                                                    42
   Oman                                                                                                                        72                                                                    77                                                                    76                                                                   78                                                                   76                                                                   89                                                                   87                                                                   92                                                                   88                                                                    89
   Qatar                                                                                                                       71                                                                    66                                                                    71                                                                   68                                                                   69                                                                   67                                                                   65                                                                   62                                                                   74                                                                    67
   Other                                                                                                    49           64           59          95          66                             68          75          57         107           76  
                                                                                                      -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- --------------------                      -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ --------------------
   Total                                                                                                                      226                                                                   245                                                                   244                                                                  280                                                                  249                                                                  273                                                                  287                                                                  302                                                                  372                                                                   309
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Ongoing operations                                                                                                            543                                                                   557                                                                   569                                                                  615                                                                  572                                                                  618                                                                  638                                                                  653                                                                  721                                                                   658
Sold assets - Hugoton                                                                                                          18                                                                     6                                                                     -                                                                    -                                                                    6                                                                    -                                                                    -                                                                    -                                                                    -                                                                     -
Sold assets - Williston                                                                                     19           22           21          20          20                             19          19          17           9           16  
                                                                                                      -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- --------------------                      -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ --------------------
Barrels of Oil Equivalent (MBOE)                                                                           580          585          590         635         598                            637         657         670         730          674  
                                                                                                      ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ====================                      ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
REALIZED PRICES
United States
   Oil ($/BBL)                                                                                                           $  92.56                                                              $  93.70                                                              $  87.43                                                              $ 66.46                                                              $ 84.73                                                              $ 43.66                                                              $ 52.64                                                              $ 44.48                                                              $ 39.19                                                              $  45.04
   NGLs ($/BBL)                                                                                                          $  42.06                                                              $  42.17                                                              $  39.32                                                              $ 27.67                                                              $ 37.79                                                              $ 17.32                                                              $ 17.32                                                              $ 13.72                                                              $ 13.27                                                              $  15.35
   Natural Gas ($/MCF)                                                                                                   $   4.39                                                              $   4.15                                                              $   3.74                                                              $  3.56                                                              $  3.97                                                              $  2.49                                                              $  2.09                                                              $  2.24                                                              $  1.75                                                              $   2.15
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Latin America
   Oil (MBBL)                                                                                                            $  98.53                                                              $ 101.30                                                              $  92.16                                                              $ 63.93                                                              $ 88.00                                                              $ 47.70                                                              $ 55.19                                                              $ 42.46                                                              $ 32.75                                                              $  44.49
   Natural Gas (MMCF)                                                                                                    $  10.81                                                              $  10.99                                                              $   9.88                                                              $  3.19                                                              $  8.94                                                              $  4.53                                                              $  5.49                                                              $  5.67                                                              $  5.28                                                              $   5.20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Middle East / North Africa
   Oil ($/BBL)                                                                                                           $ 104.65                                                              $ 105.15                                                              $ 102.19                                                              $ 77.80                                                              $ 96.34                                                              $ 53.98                                                              $ 56.48                                                              $ 52.53                                                              $ 39.14                                                              $  49.65
   NGLs ($/BBL)                                                                                                          $  38.43                                                              $  32.00                                                              $  29.70                                                              $ 25.37                                                              $ 30.98                                                              $ 21.57                                                              $ 21.38                                                              $ 17.12                                                              $ 15.62                                                              $  17.88
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Total Worldwide
   Oil ($/BBL)                                                                                                           $  98.14                                                              $  99.30                                                              $  94.26                                                              $ 71.58                                                              $ 90.13                                                              $ 48.50                                                              $ 54.55                                                              $ 47.78                                                              $ 38.68                                                              $  47.10
   NGLs ($/BBL)                                                                                                          $  41.70                                                              $  40.98                                                              $  38.20                                                              $ 27.39                                                              $ 37.01                                                              $ 17.96                                                              $ 18.06                                                              $ 14.68                                                              $ 14.02                                                              $  15.96
   Natural Gas ($/MCF)                                                                                                   $   2.90                                                              $   2.68                                                              $   2.42                                                              $  2.21                                                              $  2.55                                                              $  1.66                                                              $  1.48                                                              $  1.51                                                              $  1.32                                                              $   1.49
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Index Prices
   WTI Oil ($/BBL)                                                                                                       $  98.68                                                              $ 102.99                                                              $  97.17                                                              $ 73.15                                                              $ 93.00                                                              $ 48.63                                                              $ 57.94                                                              $ 46.43                                                              $ 42.18                                                              $  48.80
   Brent Oil ($/BBL)                                                                                                     $ 107.90                                                              $ 109.77                                                              $ 103.39                                                              $ 76.98                                                              $ 99.51                                                              $ 55.17                                                              $ 63.50                                                              $ 51.17                                                              $ 44.71                                                              $  53.64
   NYMEX Natural Gas ($/MCF)                                                                                             $   4.66                                                              $   4.55                                                              $   4.17                                                              $  3.99                                                              $  4.34                                                              $  3.07                                                              $  2.73                                                              $  2.78                                                              $  2.44                                                              $   2.75
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Percentage of Index Prices
Worldwide oil as a percentage of WTI                                                                                           99 %                                                                  96 %                                                                  97 %                                                                 98 %                                                                 97 %                                                                100 %                                                                 94 %                                                                103 %                                                                 92 %                                                                  97 %
Worldwide oil as a percentage of Brent                                                                                         91 %                                                                  90 %                                                                  91 %                                                                 93 %                                                                 91 %                                                                 88 %                                                                 86 %                                                                 93 %                                                                 87 %                                                                  88 %
Worldwide NGL as a percentage of WTI                                                                                           42 %                                                                  40 %                                                                  39 %                                                                 37 %                                                                 40 %                                                                 37 %                                                                 31 %                                                                 32 %                                                                 33 %                                                                  33 %
Worldwide NGL as a percentage of Brent                                                                                         39 %                                                                  37 %                                                                  37 %                                                                 36 %                                                                 37 %                                                                 33 %                                                                 28 %                                                                 29 %                                                                 31 %                                                                  30 %
Domestic gas as a percentage of NYMEX                                                                                          94 %                                                                  91 %                                                                  90 %                                                                 89 %                                                                 91 %                                                                 81 %                                                                 77 %                                                                 81 %                                                                 72 %                                                                  78 %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                     Schedule 9
 
                                                                                                                                          
                                                                                                                                                                                           Occidental Petroleum Corporation
                                                                                                                                                                                                   Oil and Gas Costs
                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                            
                                                                                                        ----------------------------------------------------------------------------------------------------------------------------                                          -----------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                    2014                                                                                                                                                                        2015
                                                                                                        ----------------------------------------------------------------------------------------------------------------------------                                          -----------------------------------------------------------------------------------------------------------------------------------------
                                                                                                          Qtr 1     Qtr 2     Qtr 3     Qtr 4      YTD                                              Qtr 1     Qtr 2     Qtr 3     Qtr 4            YTD
                                                                                                        ------- -------------------- ------- -------------------- ------- -------------------- ------- -------------------- -------                                           ------- -------------------- ------- -------------------- ------- -------------------- ------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                   
Cash operating expenses ($/BOE)
   United States                                                                                        $ 13.67                      $ 14.63                      $ 14.89                      $ 14.94                      $ 14.54                                           $ 14.46                      $ 13.04                      $ 13.10                      $ 11.94                                   $ 13.13
   Latin America                                                                                        $ 15.28                      $ 21.05                      $ 15.84                      $ 13.90                      $ 16.25                                            $ 9.95                      $ 11.99                      $ 13.60                      $ 12.39                                   $ 11.93
   Middle East/North Africa                                                                             $ 11.55                      $ 10.87                      $ 11.30                      $ 13.35                      $ 11.83                                           $ 12.51                      $ 11.03                       $ 8.72                       $ 8.01                                    $ 9.87
   Total Oil and Gas                                                                                    $ 12.94                      $ 13.34                      $ 13.45                      $ 14.18                      $ 13.50                                           $ 13.36                      $ 12.10                      $ 11.15                       $ 9.95                                   $ 11.57
                                                                                                                                                                                                                                                                                                                                                                                                   
Taxes other than on income ($/BOE)
   United States                                                                                         $ 4.96                       $ 4.76                       $ 4.36                       $ 3.86                       $ 4.48                                            $ 3.14                       $ 3.30                       $ 2.36                       $ 1.46                                    $ 2.57
   Total Oil and Gas                                                                                     $ 2.83                       $ 2.66                       $ 2.42                       $ 1.96                       $ 2.45                                            $ 1.63                       $ 1.85                       $ 1.20                       $ 0.67                                    $ 1.32
                                                                                                                                                                                                                                                                                                                                                                                                   
DD&A expense ($/BOE)
   United States                                                                                        $ 17.46                      $ 18.13                      $ 18.63                      $ 18.81                      $ 18.26                                           $ 17.12                      $ 17.82                      $ 18.24                      $ 17.32                                   $ 17.63
   Latin America                                                                                        $ 13.65                      $ 14.73                      $ 13.73                      $ 14.22                      $ 14.14                                           $ 14.05                      $ 14.66                      $ 14.61                      $ 14.87                                   $ 14.54
   Middle East/North Africa                                                                             $ 14.59                      $ 14.91                      $ 15.13                      $ 17.73                      $ 15.68                                           $ 13.41                      $ 14.20                      $ 12.36                      $ 15.68                                   $ 14.02
   Total Oil and Gas                                                                                    $ 16.12                      $ 16.64                      $ 16.90                      $ 18.09                      $ 16.97                                           $ 15.35                      $ 16.06                      $ 15.39                      $ 16.36                                   $ 15.81
                                                                                                                                                                                                                                                                                                                                                                                                   
G&A and other operating expenses ($/BOE)                                                                 $ 3.62                       $ 4.23                       $ 4.12                       $ 3.68                       $ 3.91                                            $ 3.58                       $ 3.57                       $ 2.88                       $ 2.69                                    $ 3.15
                                                                                                                                                                                                                                                                                                                                                                                                   
Exploration Expense ($ millions)
   United States                                                                                           $ 10                         $ 14                         $ 11                         $ 35                         $ 70                                               $ 5                          $ 6                          $ 3                          $ 5                                      $ 19
   Latin America                                                                                              -                            -                            -                            4                            4                                                 -                            -                            -                            2                                         2
   Middle East/North Africa                                                                                  14        25        17        20        76                                                 3         4         2         6                     15
                                                                                                        ------- -------------------- ------- -------------------- ------- -------------------- ------- -------------------- -------                                           ------- -------------------- ------- -------------------- ------- -------------------- ------- -------------------- --------------------
                                                                                                           $ 24      $ 39      $ 28      $ 59     $ 150                                               $ 8      $ 10       $ 5      $ 13                   $ 36
                                                                                                        ======= ==================== ======= ==================== ======= ==================== ======= ==================== =======                                           ======= ==================== ======= ==================== ======= ==================== ======= ==================== ====================
                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                     Schedule 10
                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                     Occidental Petroleum Corporation
                                                                                                                                                                                                                                     Segment Core Income Pre-tax Variance Roll-forwards
                                                                                                                                                                                                                                     (Amounts in millions)
                                                                                                                                                                                                                                                                                                                      
                                                                                              ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                               2014                                                                                                                                                                                                                                                                                                                                                                             2015
                                                                                              ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                    Qtr 1                                             Qtr 2                                             Qtr 3                                             Qtr 4                                               YTD                                                                                       Qtr 1                                              Qtr 2                                              Qtr 3                                              Qtr 4                                               YTD
                                                                                              -------------------------------------------------------------------- -------------------------------------------------------------------- -------------------------------------------------------------------- --------------------------------------------------------------------- -------------------------------------------------                                          --------------------------------------------------------------------- --------------------------------------------------------------------- --------------------------------------------------------------------- --------------------------------------------------------------------- -------------------------------------------------
     Quarter-over-Quarter
------------------------------
Oil & Gas
   Prior quarter core income                                                                                     $ 1,752                                                              $ 1,719                                                              $ 1,703                                                              $  1,571                                                                                                                                                         $    736                                                              $     57                                                              $    324                                                              $    162
   Sales price                                                                                                        27                                                                   13                                                                 (182 )                                                                (845 )                                                                                                                                                           (934 )                                                                 217                                                                  (261 )                                                                (347 )
   Sales volume                                                                                                     (146 )                                                                 49                                                                   43                                                                   173                                                                                                                                                               10                                                                    28                                                                   (14 )                                                                  39
   Operating expenses                                                                                                 66                                                                  (34 )                                                                (19 )                                                                (100 )                                                                                                                                                            101                                                                    30                                                                    45                                                                    13
   DD&A rate                                                                                                         (30 )                                                                (10 )                                                                  4                                                                   (14 )                                                                                                                                                            123                                                                    (5 )                                                                   5                                                                    23
   Exploration expense                                                                                                 1                                                                  (15 )                                                                 11                                                                   (37 )                                                                                                                                                             52                                                                    (3 )                                                                   5                                                                    (8 )
   All others                                                                                      49         (19 )                           11          (12 )                                                                                                                                         (31 )                             -           58           12  
                                                                                              -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ --------------------                                                                                                                 -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Current quarter core income                                                                                   $ 1,719                        $ 1,703                        $ 1,571                        $    736                                                                                                                                      $     57                        $    324                        $    162                        $   (106 )
                                                                                              ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ====================                                                                                                                 ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Chemical
   Prior quarter core income                                                                                     $   128                                                              $   136                                                              $   133                                                              $    140                                                                                                                                                         $    160                                                              $    139                                                              $    136                                                              $    174
   Sales price                                                                                                        11                                                                   24                                                                    9                                                                   (30 )                                                                                                                                                            (92 )                                                                   2                                                                   (42 )                                                                 (37 )
   Sales volume / mix                                                                                                 41                                                                   (2 )                                                                 (6 )                                                                   4                                                                                                                                                              (26 )                                                                  16                                                                    (8 )                                                                 (22 )
   Operations / manufacturing                                                                                        (39 )                                                                (17 )                                                                 (1 )                                                                  56                                                                                                                                                               89                                                                   (20 )                                                                  80                                                                    10
   All others                                                                                      (5 )                           (8 )                            5          (10 )                                                                                                                                           8           (1 )                             8           (9 )
                                                                                              -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ --------------------                                                                                                                 -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Current quarter core income                                                                                   $   136                        $   133                        $   140                        $    160                                                                                                                                      $    139                        $    136                        $    174                        $    116  
                                                                                              ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ====================                                                                                                                 ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Midstream and Marketing
   Prior quarter core income                                                                                     $   106                                                              $    96                                                              $   130                                                              $    155                                                                                                                                                         $    168                                                              $     (5 )                                                            $     84                                                              $     31
   Marketing                                                                                                         (26 )                                                                 31                                                                   13                                                                    11                                                                                                                                                              (73 )                                                                  59                                                                   (91 )                                                                 (57 )
   Gas plants                                                                                                         53                                                                   (6 )                                                                  -                                                                   (26 )                                                                                                                                                            (14 )                                                                   1                                                                    (2 )                                                                  16
   Pipelines                                                                                                         (51 )                                                                 17                                                                    7                                                                    27                                                                                                                                                              (83 )                                                                  29                                                                    23                                                                   (23 )
   Power generation                                                                                                   17                                                                   (3 )                                                                  3                                                                    (9 )                                                                                                                                                             (3 )                                                                   -                                                                    17                                                                   (12 )
   All others                                                                                      (3 )                           (5 )                            2           10                                                                                                                          -            -            -            -  
                                                                                              -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ --------------------                                                                                                                 -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Current quarter core income                                                                                   $    96                        $   130                        $   155                        $    168                                                                                                                                      $     (5 )                                         $     84                        $     31                        $    (45 )
                                                                                              ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ====================                                                                                                                 ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
        Year-over-Year
------------------------------
Oil & Gas
   Prior year core income                                                                                        $ 1,542                                                              $ 1,751                                                              $ 1,973                                                              $  1,752                                                              $  7,018                                                                                   $  1,719                                                              $  1,703                                                              $  1,571                                                              $    736                                                              $  5,729
   Sales price                                                                                                       136                                                                  124                                                                 (291 )                                                              (1,024 )                                                              (1,055 )                                                                                   (1,923 )                                                              (1,714 )                                                              (1,768 )                                                              (1,320 )                                                              (6,725 )
   Sales volume                                                                                                       61                                                                  (96 )                                                                (50 )                                                                 104                                                                    19                                                                                        210                                                                   247                                                                   163                                                                   216                                                                   836
   Operating expenses                                                                                                  6                                                                  (40 )                                                                (36 )                                                                 (86 )                                                                (156 )                                                                                      (51 )                                                                   6                                                                    83                                                                   116                                                                   154
   DD&A rate                                                                                                         (34 )                                                                (49 )                                                                (41 )                                                                   4                                                                  (120 )                                                                                      102                                                                    84                                                                    87                                                                    84                                                                   357
   Exploration expense                                                                                                 6                                                                   19                                                                   (1 )                                                                 (35 )                                                                 (11 )                                                                                       19                                                                    28                                                                    22                                                                    47                                                                   116
   All others                                                                                       2          (6 )                           17           21           34                                                  (19 )                           (30 )                             4           15          (30 )
                                                                                              -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Current quarter core income                                                                                   $ 1,719                        $ 1,703                        $ 1,571                        $    736                        $  5,729                                                                $     57                        $    324                        $    162                        $   (106 )                                         $    437  
                                                                                              ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Chemical
   Prior year core income                                                                                        $   159                                                              $   144                                                              $   181                                                              $    128                                                              $    612                                                                                   $    136                                                              $    133                                                              $    140                                                              $    160                                                              $    569
   Sales price                                                                                                       (31 )                                                                 (5 )                                                                  7                                                                     6                                                                   (23 )                                                                                      (88 )                                                                (115 )                                                                (181 )                                                                (177 )                                                                (561 )
   Sales volume / mix                                                                                                 43                                                                   29                                                                    9                                                                    21                                                                   102                                                                                        (44 )                                                                 (29 )                                                                   1                                                                   (46 )                                                                (118 )
   Operations / manufacturing                                                                                        (19 )                                                                (36 )                                                                (65 )                                                                  13                                                                  (107 )                                                                                      145                                                                   146                                                                   213                                                                   174                                                                   678
   All others                                                                                     (16 )                            1           8           (8 )                           (15 )                                                                   (10 )                             1            1            5           (3 )
                                                                                              -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Current quarter core income                                                                                   $   136                        $   133                        $   140                        $    160                        $    569                                                                $    139                        $    136                        $    174                        $    116                        $    565  
                                                                                              ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Midstream and Marketing
   Prior year core income                                                                                        $   183                                                              $   123                                                              $   125                                                              $    106                                                              $    537                                                                                   $     96                                                              $    130                                                              $    155                                                              $    168                                                              $    549
   Marketing                                                                                                         (99 )                                                                 (9 )                                                                 43                                                                    27                                                                   (38 )                                                                                      (21 )                                                                   7                                                                   (98 )                                                                (165 )                                                                (277 )
   Gas plants                                                                                                          -                                                                    9                                                                    7                                                                    22                                                                    38                                                                                        (41 )                                                                 (33 )                                                                 (35 )                                                                   3                                                                  (106 )
   Pipelines                                                                                                           6                                                                    6                                                                  (19 )                                                                  (7 )                                                                 (14 )                                                                                      (26 )                                                                 (15 )                                                                   6                                                                   (45 )                                                                 (80 )
   Power generation                                                                                                    8                                                                    5                                                                    3                                                                     7                                                                    23                                                                                        (12 )                                                                 (11 )                                                                   4                                                                     -                                                                   (19 )
   All others                                                                                      (2 )                           (4 )                           (4 )                            13            3                                                   (1 )                             6           (1 )                            (6 )                            (2 )
                                                                                              -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                           -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Current quarter core income                                                                                   $    96                        $   130                        $   155                        $    168                        $    549                                                                $     (5 )                                         $     84                        $     31                        $    (45 )                                         $     65  
                                                                                              ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ===== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================                                           ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ==================== ==================== ==================== ====== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                     Schedule 11
 

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20160204005649r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20160204005649/en/

SOURCE: Occidental Petroleum Corporation

Occidental Petroleum Corporation 
Media: 
Melissa E. Schoeb 
713-366-5615 
melissa_schoeb@oxy.com 
or 
Investors: 
Christopher M. Degner 
212-603-8111 
christopher_degner@oxy.com 
On the web: www.oxy.com


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