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At A Glance

Occidental Petroleum Corporation is a leading international oil and gas exploration and production company, as well as a major North American chemical manufacturer.

Oxy's business strategy is driven by a disciplined financial philosophy that balances profitability and growth while maintaining a strong balance sheet. Oxy is committed to using advanced technology to produce more oil and natural gas, while being a responsible steward of the environment.

Key business strategy elements:

• Focus on core areas – United States, Middle East/North Africa and Latin America. U.S. assets provide stable production, long-lived reserves and high capital efficiency, while assets in the Middle East/North Africa and Latin America offer strong production growth and high returns. Long-term production growth of 5-8% CAGR.
• Maintain a strong balance sheet – Create value through enhanced oil recovery projects with large volumes of oil in place, acquire assets with upside potential and maintain top-quartile financial returns, an “A” credit rating and a disciplined investment philosophy.
• Other value enhancing – Maximize free cash flow from chemicals; consistent record of dividend increases; share repurchase program; midstream assets; cost-reduction program.

Quarterly Fact Sheet

2Q 2008 (PDF)

Market Capitalization

$63.6 billion (market close on 12/31/07)

Financial Performance

For the 12 months of 2007, Oxy achieved record net income of $5.4 billion, compared with $4.2 billion for 2006. In 2007, diluted earnings per share were $6.44 compared to $4.87 in 2006. Net income for the fourth quarter of 2007 was $1.45 billion compared with $930 million for the fourth quarter of 2006.

Selected Financial Data

In millions, except per-share amounts

Oil and Gas Highlights

Oxy's oil and gas assets are concentrated in three core areas — the United States, Middle East/North Africa and Latin America.

Oil and Gas Production

MBOE per day

Oil and Gas Reserves

MMBOE