Occidental Petroleum Corp
Industry: Oil & Gas Operations

Occidental Petroleum Corp. is principally engaged in two industry segments: the oil and gas segment and the chemicals segment. The oil and gas segment explores for, develops, produces and markets crude oil and natural gas. Occidental manufactures and markets basic chemicals, vinyls and performance chemicals directly and through various affiliates (collectively, OxyChem). OxyChem operates chemical manufacturing plants at 26 sites in the United States. Many of the larger facilities are located in the Gulf Coast region of Texas and Louisiana.

Business Summary
Occidental Petroleum Corporation (Occidental) conducts business in two industry segments: the Oil and Gas segment, and the Chemicals segment. The oil and gas segment explores for, develops, produces and markets crude oil and natural gas. The chemical segment manufactures and markets basic chemicals, vinyls and performance chemicals. Occidental's domestic oil and gas operations are located in Elk Hills and other smaller locations in California, the Hugoton field in Kansas and Oklahoma, the Permian Basin in West Texas and New Mexico, and the Gulf of Mexico. International operations are located in Colombia, Ecuador, Oman, Pakistan, Qatar, Russia, the United Arab Emirates and Yemen. Occidental also has exploration interests in several other countries. The Company, through its affiliates, owns and operates chemical manufacturing plants at 24 sites in the United States.

Financial Summary
OXY explores for, develops, produces, and markets crude oil and gas; and manufactures and markets a variety of basic chemicals, polymers and plastics, specialty chemicals and petrochemicals. For the 6 months ended 6/30/05, revenues rose 32% to $7.03B. Net income from cont. ops. totalled $2.38B, up from $1.07B. Revenues reflect higher crude oil, natural gas and chemical prices. Net income also reflects an increase in gross and operating margins.