<SUBMISSION>
<ACCESSION-NUMBER>0000797468-07-000048
<TYPE>S-8
<PUBLIC-DOCUMENT-COUNT>5
<FILING-DATE>20070508
<DATE-OF-FILING-DATE-CHANGE>20070508
<EFFECTIVENESS-DATE>20070508
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>OCCIDENTAL PETROLEUM CORP /DE/
<CIK>0000797468
<ASSIGNED-SIC>1311
<IRS-NUMBER>954035997
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>S-8
<ACT>33
<FILE-NUMBER>333-142705
<FILM-NUMBER>07827135
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>10889 WILSHIRE BLVD
<CITY>LOS ANGELES
<STATE>CA
<ZIP>90024
<PHONE>3102088800
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>10889 WILSHIRE BOULEVARD
<CITY>LOS ANGELES
<STATE>CA
<ZIP>90024
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>forms8-20070507.htm
<DESCRIPTION>FORM S-8
<TEXT>
<html>

<head>
  <title>Occidental Petroleum Corporation</title>
</head>

<body bgcolor="#ffffff">

<p style='margin-top:12pt;margin-bottom:6pt;text-align:center;width:720'><font face="times new roman" style='font-size:10pt'>As
filed with the Securities and Exchange Commission on May 8, 2007</font></p>

<p style='margin-top:12pt;margin-bottom:6pt;text-align:right;width:650'><font face="times new roman" style='font-size:10pt'>Registration
No.&nbsp;333-</font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:left;width:720;border-top:black 2.25pt double'><font face="times new roman" style='font-size:10pt'>&nbsp;</font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:14pt'><b>SECURITIES
AND EXCHANGE COMMISSION</b></font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:10pt'><b>Washington,
D.C. 20549</b></font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:10pt'>_________________</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:14pt'><b>FORM
S-8</b></font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:12pt'><b>REGISTRATION
STATEMENT</b></font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:12pt'><b>Under</b></font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:12pt'><b>THE
SECURITIES ACT OF 1933</b></font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:10pt'>_________________</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:14pt'><b>OCCIDENTAL
PETROLEUM CORPORATION</b></font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:10pt'><b>(Exact
name of issuer as specified in its charter)</b></font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="400" valign=bottom>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:10pt'><b>DELAWARE</b></font></p></td>
    <td width="320" valign=bottom>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:10pt'><b>95-4035997</b></font></p></td></tr>
  <tr>
    <td width="400" valign=bottom>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:10pt'><b>(State or
      other jurisdiction of
        <br>incorporation or organization)</b></font></p></td>
    <td width="320" valign=bottom>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:10pt'><b>(I.R.S.
      Employer
        <br>Identification No.)</b></font></p></td></tr>
  <tr>
    <td width="400" valign=bottom>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:10pt'><b>10889
      Wilshire Boulevard
        <br>Los Angeles, California</b></font></p></td>
    <td width="320" valign=bottom>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:10pt'><b>90024</b></font></p></td></tr>
  <tr>
    <td width="400" valign=bottom>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:10pt'><b>(Address
      of Principal Executive Offices)</b></font></p></td>
    <td width="320" valign=bottom>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:10pt'><b>(Zip
      code)</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:12pt'><b>OCCIDENTAL
PETROLEUM CORPORATION
  <br>2005 LONG-TERM INCENTIVE PLAN</b></font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:10pt'><b>(Full
title of the plan)</b></font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:10pt'><b>Donald
P. de Brier, Esq., General Counsel
  <br>OCCIDENTAL PETROLEUM CORPORATION
  <br>10889 Wilshire Boulevard
  <br>Los Angeles, California
  <br>(310) 208-8800</b></font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:10pt'><b>(Name,
address and telephone number, including area code, of agent for service)</b></font></p>

<p style='margin-top:12pt;margin-bottom:12pt;text-align:center;width:720'><font face="times new roman" style='font-size:10pt'><b>CALCULATION
OF REGISTRATION FEE</b></font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="144" valign=bottom style='border-top:black 2.25pt double;border-bottom:black 1.0pt solid;padding:3pt 0pt 3pt 0pt'>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center;line-height:110%'><font face="times new roman" style='font-size:10pt'>Title
      of Securities
        <br>to be Registered</font></p></td>
    <td width="144" valign=bottom style='border-top:black 2.25pt double;border-bottom:black 1.0pt solid;padding:3pt 0pt 3pt 0pt'>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center;line-height:110%'><font face="times new roman" style='font-size:10pt'>Amount
        <br>to be
        <br>Registered</font></p></td>
    <td width="144" valign=bottom style='border-top:black 2.25pt double;border-bottom:black 1.0pt solid;padding:3pt 0pt 3pt 0pt'>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center;line-height:110%'><font face="times new roman" style='font-size:10pt'>Proposed
        <br>Maximum
        <br>Offering Price
        <br>Per Share<sup style='vertical-align:text-top;font-size:90%'>(1)</sup></font></p></td>
    <td width="144" valign=bottom style='border-top:black 2.25pt double;border-bottom:black 1.0pt solid;padding:3pt 0pt 3pt 0pt'>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center;line-height:110%'><font face="times new roman" style='font-size:10pt'>Proposed
        <br>Maximum
        <br>Aggregate
        <br>Offering Price<sup style='vertical-align:text-top;font-size:90%'>(1)</sup></font></p></td>
    <td width="144" valign=bottom style='border-top:black 2.25pt double;border-bottom:black 1.0pt solid;padding:3pt 0pt 3pt 0pt'>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center;line-height:110%'><font face="times new roman" style='font-size:10pt'>Amount
      of
        <br>Registration Fee</font></p></td></tr>
  <tr>
    <td width="144" valign=middle style='border-bottom:black 2.25pt double;padding:3pt 0pt 3pt 0pt'>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center;line-height:110%'><font face="times new roman" style='font-size:10pt'>Common
      Stock,
        <br>$.20 par value
        <br>(including
        <br>Preferred Stock
        <br>Purchase Rights)</font></p></td>
    <td width="144" valign=middle style='border-bottom:black 2.25pt double;padding:3pt 0pt 3pt 0pt'>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center;line-height:110%'><font face="times new roman" style='font-size:10pt'>32,000,000
      <sup style='vertical-align:text-top;font-size:90%'>(2)</sup></font></p></td>
    <td width="144" valign=middle style='border-bottom:black 2.25pt double;padding:3pt 0pt 3pt 0pt'>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center;line-height:110%'><font face="times new roman" style='font-size:10pt'>$50.605</font></p></td>
    <td width="144" valign=middle style='border-bottom:black 2.25pt double;padding:3pt 0pt 3pt 0pt'>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center;line-height:110%'><font face="times new roman" style='font-size:10pt'>$1,619,360,000.00</font></p></td>
    <td width="144" valign=middle style='border-bottom:black 2.25pt double;padding:3pt 0pt 3pt 0pt'>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center;line-height:110%'><font face="times new roman" style='font-size:10pt'>$49,714.35</font></p></td></tr></table>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="25" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left;line-height:110%'><font face="times new roman" style='font-size:9pt'>(1)</font></p></td>
    <td width="695" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left;line-height:110%'><font face="times new roman" style='font-size:9pt'>Estimated
      pursuant to Rule 457 solely for the purpose of calculating the amount of the registration fee based on the average of the high
      and low price for the Common Stock on May 1, 2007.</font></p></td></tr>
  <tr>
    <td width="25" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left;line-height:110%'><font face="times new roman" style='font-size:9pt'>(2)</font></p></td>
    <td width="695" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left;line-height:110%'><font face="times new roman" style='font-size:9pt'>Includes
      an indeterminate number of additional shares which may be necessary to adjust the number of shares reserved for issuance
      pursuant to the plan as the results of any future stock split, stock dividend or similar adjustment of the outstanding Common
      Stock of the Registrant.</font></p></td></tr></table>

<p style='page-break-before:always'></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:11pt'><b><u>PART
II</u></b></font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:11pt'><b>INFORMATION
REQUIRED IN REGISTRATION STATEMENT</b></font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>Item
      3.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>INCORPORATION
      OF CERTAIN DOCUMENTS BY REFERENCE</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>The
following documents are hereby incorporated by reference in this Registration Statement:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>(a)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Annual Report on Form 10-K of Occidental Petroleum Corporation
("Occidental" or the "Registrant") for the year ended December 31, 2006;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>(b)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Quarterly Report on Form 10-K of Occidental for the fiscal quarter ended
March 31, 2007;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>(c)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current Reports on Form 8-K, dated January 23, 2007 (filed January 23, 2007),
January 25, 2007 (filed January 25, 2007), January 30, 2007 (filed January 31, 2007), February 5, 2005 (filed February 5, 2007),
February 7, 2007 (filed February 7, 2007), April 24, 2007 (filed April 24, 2007), and May 4, 2007 (filed May 4, 2007);
and</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>(d)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The description of the Common Stock contained in the Registration Statement on
Form 8-B, dated June 26, 1986 (as amended by Form 8, dated December 22, 1986, Form 8, dated February 3, 1988, Form 8-B/A, dated July
12, 1993, Form 8-B/A, dated March 21, 1994, and Form 8-B/A, dated November 2, 1995 and including any amendment or report filed for
the purpose of updating such descriptions subsequent to the date of this Registration Statement).</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>All
documents filed by the Registrant or the Occidental Petroleum Corporation 2005 Long-Term Incentive Plan (the "Plan") pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended, after the date hereof prior to the filing of
a post-effective amendment which indicates that the securities offered hereby have been sold or which deregisters the securities
covered hereby then remaining unsold, shall also be deemed to be incorporated by reference into this Registration Statement and to
be a part hereof from the date of delivery of such documents.  Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the
extent that a statement contained herein, or in any other subsequently filed document that also is or is deemed to be incorporated
by reference herein, modifies or supersedes such statement.  Any such statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this Registration Statement.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>Item
      4.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>DESCRIPTION
      OF SECURITIES</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>Not
applicable.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>Item
      5.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>INTERESTS
      OF NAMED EXPERTS AND COUNSEL</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>The
validity of the Common Stock registered pursuant hereto has been passed upon by Linda S. Peterson, an Associate General Counsel of
the Registrant. Ms. Peterson beneficially owns, and has rights to acquire under employee stock options, an aggregate of less than 1%
of the outstanding shares of Common Stock of Occidental.</font></p>

<p style='margin-top:24pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:12pt'>1</font></p>

<p style='page-break-before:always'></p>

<page>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>Item
      6.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>INDEMNIFICATION
      OF DIRECTORS AND OFFICERS</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>Section
145 of the Delaware General Corporation Law authorizes a court to award, or a corporation's board of directors to grant, indemnity
to directors and officers under certain circumstances for liabilities incurred in connection with their activities in such
capacities (including reimbursement for expenses incurred). Occidental's Restated Certificate of Incorporation, as amended, provides
for the elimination of personal liability of its directors to the full extent permitted by the Delaware General Corporation Law and
Occidental has entered into indemnification agreements with each director and certain officers providing for additional
indemnification. Article VIII of Occidental's By-laws provides that Occidental shall indemnify directors and officers under certain
circumstances for liabilities and expenses incurred by reason of their activities in such capacities. In addition, Occidental has
insurance policies that provide liability coverage to directors and officers while acting in such capacities.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>Item
      7.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>EXEMPTION
      FROM REGISTRATION CLAIMED</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>Not
applicable.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>Item
      8.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>EXHIBITS</b></font></p></td></tr></table>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="43" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:right'><font face="times new roman" style='font-size:11pt'>3.(i)</font></p></td>
    <td width="7" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Restated
      Certificate of Incorporation of Occidental, dated November 12, 1999 (incorporated by reference to Exhibit 3.(i) to the Annual
      Report on Form 10-K of Occidental for the year ended December 31, 1999, File No. 1-9210).</font></p></td></tr>
  <tr>
    <td width="43" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:right'><font face="times new roman" style='font-size:11pt'>3.(i)(a)</font></p></td>
    <td width="7" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Certificate
      of Change of Location of Registered Office and of Registered Agent, dated July 6, 2001 (incorporated by reference to Exhibit
      3.1(i) to the Registration Statement on Form S-3 of Occidental, File No. 333-82246).</font></p></td></tr>
  <tr>
    <td width="43" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:right'><font face="times new roman" style='font-size:11pt'>3.(i)(b)</font></p></td>
    <td width="7" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Certificate
      of Amendment of Restated Certificate of Incorporation of Occidental Petroleum Corporation (incorporated by reference to
      Exhibit 3.1(b) to the Annual Report on Form 10-K of Occidental for the year ended December 31, 2006, File No.
      1-9210).</font></p></td></tr>
  <tr>
    <td width="43" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:right'><font face="times new roman" style='font-size:11pt'>3.(ii)</font></p></td>
    <td width="7" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>By-laws of
      Occidental, as amended through July 20, 2006 (filed as Exhibit 3.(ii) to the Quarterly Report on Form 10-Q of Occidental for
      the fiscal quarter ended June 30, 2006, File No. 1-9210).</font></p></td></tr>
  <tr>
    <td width="43" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:right'><font face="times new roman" style='font-size:11pt'>5.1</font></p></td>
    <td width="7" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Opinion of
      Linda S. Peterson, Esq.</font></p></td></tr>
  <tr>
    <td width="43" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:right'><font face="times new roman" style='font-size:11pt'>10.1</font></p></td>
    <td width="7" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Occidental
      Petroleum Corporation 2005 Long-Term Incentive Plan.</font></p></td></tr>
  <tr>
    <td width="43" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:right'><font face="times new roman" style='font-size:11pt'>23.1</font></p></td>
    <td width="7" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Consent of
      Linda S. Peterson, Esq. (Included in Exhibit 5.1).</font></p></td></tr>
  <tr>
    <td width="43" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:right'><font face="times new roman" style='font-size:11pt'>23.2</font></p></td>
    <td width="7" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Consent of
      KPMG LLP.</font></p></td></tr>
  <tr>
    <td width="43" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:right'><font face="times new roman" style='font-size:11pt'>24.1</font></p></td>
    <td width="7" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Power of
      Attorney (Reference is hereby made to page 4).</font></p></td></tr></table>

<p style='margin-top:24pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:12pt'>2</font></p>

<p style='page-break-before:always'></p>

<page>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>Item
      9.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'><b>UNDERTAKINGS</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>The
undersigned Registrant hereby undertakes:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:100px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>1.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:150px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>(i)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include any prospectus required by Section 10(a)(3) of the Securities Act
of 1933;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:150px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>(ii)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To reflect in the prospectus any facts or events arising after the effective date of
the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent
a fundamental change in the information set forth in the registration statement.  Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more
than 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective
registration statement.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:150px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>(iii)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such information in the registration
statement.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:100px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>2.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act of
1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:100px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>3.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>The
undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each
filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and,
where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act
of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of
expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will
be governed by the final adjudication of such issue.</font></p>

<p style='margin-top:24pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:12pt'>3</font></p>

<p style='page-break-before:always'></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:11pt'><b>POWER
OF ATTORNEY</b></font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>Each
person whose signature appears below constitutes and appoints Donald P. de Brier, Robert E. Sawyer and Linda S. Peterson his or her
true and lawful attorneys-in-fact and agents, each acting alone, with full powers of substitution and resubstitution, for him or her
and in his or her name, place and stead, in any and all capacities, to sign any or all Amendments (including Post-Effective
Amendments) to this Registration Statement and to file the same, with all exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, each acting alone, full
power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as
fully to all intents and purposes as he or she might or could do in person, here ratifying and confirming all that said
attorneys-in-fact and agents, each acting along, or his or her substitute or substitutes, may lawfully do or cause to be done by
virtue hereof. </font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:11pt'><b>SIGNATURES</b></font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-indent:50px;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>Pursuant
to the requirements of the Securities Act of 1933, Occidental Petroleum Corporation certifies that it has reasonable grounds to
believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on
its behalf by the undersigned, thereunto duly authorized, in the City of Los Angeles, State of California, on May 8,
2007.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="300" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td colspan="2" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>OCCIDENTAL
      PETROLEUM CORPORATION</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="300" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="30" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>By:</font></p></td>
    <td width="330" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      R<small>AY</small> R. I<small>RANI</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="300" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="30" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="330" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Ray R.
      Irani</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="300" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="30" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="330" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Chairman of
      the Board of Directors, President and Chief Executive Officer</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>Pursuant
to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities
and on the dates indicated.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'><b><u>Signature</u></b></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'><b><u>Title</u></b></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'><b><u>Date</u></b></font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      R<small>AY</small> R. I<small>RANI</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top rowspan="2">
      <p style='margin-top:24pt;margin-bottom:0pt;margin-left:13px;text-indent:-13px;text-align:left'><font face="times new roman" style='font-size:11pt'>Chairman
      of the Board of
        <br>Directors, President and Chief
        <br>Executive Officer</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Ray R.
      Irani
        <br>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      S<small>TEPHEN</small> I. C<small>HAZEN</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top rowspan="2">
      <p style='margin-top:12pt;margin-bottom:0pt;margin-left:13px;text-indent:-13px;text-align:left'><font face="times new roman" style='font-size:11pt'>Senior
      Executive Vice President
        <br>and Chief Financial Officer</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Stephen I.
      Chazen</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      J<small>IM</small> A. L<small>EONARD</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top rowspan="2">
      <p style='margin-top:24pt;margin-bottom:0pt;margin-left:13px;text-indent:-13px;text-align:left'><font face="times new roman" style='font-size:11pt'>Vice
      President and Controller
        <br>(Principal Accounting Officer)</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Jim A.
      Leonard</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      S<small>PENCER</small> A<small>BRAHAM</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Spencer
      Abraham</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      R<small>ONALD</small> W. B<small>URKLE</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Ronald W.
      Burkle</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr></table>

<p style='page-break-before:always'></p>

<page>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'><b><u>Signature</u></b></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'><b><u>Title</u></b></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'><b><u>Date</u></b></font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      J<small>OHN</small> S. C<small>HALSTY</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>John S.
      Chalsty</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      E<small>DWARD</small> P. D<small>JEREJIAN</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Edward P.
      Djerejian</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/ R.
      C<small>HAD</small> D<small>REIER</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>R. Chad
      Dreier</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      J<small>OHN</small> E. F<small>EICK</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>John E.
      Feick</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      I<small>RVIN</small> W. M<small>ALONEY</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Irvin W.
      Maloney</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      R<small>ODOLFO</small> S<small>EGOVIA</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Rodolfo
      Segovia</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      A<small>ZIZ</small> S<small>YRIANI</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Aziz
      Syriani</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      R<small>OSEMARY</small> T<small>OMICH</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Rosemary
      Tomich</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr>
  <tr>
    <td width="230" valign=top style='border-bottom:black 1.0pt solid'>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>/s/
      W<small>ALTER</small> L. W<small>EISMAN</small></font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>Director</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:24pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>May 8,
      2007</font></p></td></tr>
  <tr>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:center'><font face="times new roman" style='font-size:11pt'>Walter L.
      Weisman</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="230" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="40" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td>
    <td width="180" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>&nbsp;</font></p></td></tr></table>

<p style='page-break-before:always'></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:11pt'><b>INDEX
TO EXHIBITS</b></font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="75" valign=bottom>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11pt'>EXHIBIT
        <br><u>NUMBER</u></font></p></td>
    <td width="645" valign=bottom>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-left:150px;text-align:left'><font face="times new roman" style='font-size:11pt'><u>DESCRIPTION</u></font></p></td></tr>
  <tr>
    <td width="75" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-right:25px;text-align:right'><font face="times new roman" style='font-size:11pt'>5.1</font></p></td>
    <td width="645" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:left'><font face="times new roman" style='font-size:11pt'>Opinion
      of Linda S. Peterson, Esq.</font></p></td></tr>
  <tr>
    <td width="75" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-right:25px;text-align:right'><font face="times new roman" style='font-size:11pt'>10.1</font></p></td>
    <td width="645" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:left'><font face="times new roman" style='font-size:11pt'>Occidental
      Petroleum Corporation 2005 Long-Term Incentive Plan.</font></p></td></tr>
  <tr>
    <td width="75" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-right:25px;text-align:right'><font face="times new roman" style='font-size:11pt'>23.1</font></p></td>
    <td width="645" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:left'><font face="times new roman" style='font-size:11pt'>Consent
      of Linda S. Peterson, Esq. (Included in Exhibit 5.1).</font></p></td></tr>
  <tr>
    <td width="75" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-right:25px;text-align:right'><font face="times new roman" style='font-size:11pt'>23.2</font></p></td>
    <td width="645" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:left'><font face="times new roman" style='font-size:11pt'>Consent
      of KPMG LLP.</font></p></td></tr>
  <tr>
    <td width="75" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-right:25px;text-align:right'><font face="times new roman" style='font-size:11pt'>24.1</font></p></td>
    <td width="645" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:left'><font face="times new roman" style='font-size:11pt'>Power
      of Attorney (Reference is hereby made to page 4).</font></p></td></tr></table>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>2
<FILENAME>ex51-20070507.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<html>

<head>
  <title>Exhibit 5.1</title>
</head>

<body bgcolor="#ffffff">

<table width="720" cellpadding=0 cellspacing=0 border=0>
  <tr>
    <td width="60" valign=top rowspan="3">
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><img src="oxylogo.gif"></p></td>
    <td width="510" valign=top rowspan="3">
      <p style='margin-top:10pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:12pt'><b>O<small>CCIDENTAL</small>
      P<small>ETROLEUM</small> C<small>ORPORATION</small></b></font></p></td>
    <td colspan="2" valign=bottom>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:7pt'><b>10889
      W</b></font><font face="arial" color="#0000FF" style='font-size:6pt'><b>ILSHIRE</b></font><font face="arial" color="#0000FF" style='font-size:7pt'><b>
      B</b></font><font face="arial" color="#0000FF" style='font-size:6pt'><b>OULEVARD</b></font><font face="arial" color="#0000FF" style='font-size:7pt'><b>
        <br>L</b></font><font face="arial" color="#0000FF" style='font-size:6pt'><b>OS</b></font><font face="arial" color="#0000FF" style='font-size:7pt'><b>
        A</b></font><font face="arial" color="#0000FF" style='font-size:6pt'><b>NGELES</b></font><font face="arial" color="#0000FF" style='font-size:7pt'><b>,
        C</b></font><font face="arial" color="#0000FF" style='font-size:6pt'><b>ALIFORNIA</b></font><font face="arial" color="#0000FF" style='font-size:7pt'><b>
        90024</b></font></p></td></tr>
  <tr>
    <td width="55" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:7pt'><b>T</b></font><font face="arial" color="#0000FF" style='font-size:6pt'><b>ELEPHONE</b></font></p></td>
    <td width="95" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:7pt'><b>(310)
        208-8800</b></font></p></td></tr>
  <tr>
    <td width="55" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:7pt'><b>F</b></font><font face="arial" color="#0000FF" style='font-size:6pt'><b>ACSIMILE</b></font></p></td>
    <td width="95" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:7pt'><b>(310)
      443-6690</b></font></p></td></tr></table>

<p style='margin-top:24pt;margin-bottom:0pt;text-align:left;width:720'><font face="arial" color="#0000FF" style='font-size:9pt'><b>LINDA
S. PETERSON</b></font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:left;width:720'><font face="arial" color="#0000FF" style='font-size:8pt'>ASSOCIATE
GENERAL COUNSEL</font></p>

<table width="165" cellpadding=0 cellspacing=0 border=0>
  <tr>
    <td width="65" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:6pt'>Direct
      Telephone</font></p></td>
    <td width="100" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:6pt'>(310)
      443-6189</font></p></td></tr>
  <tr>
    <td width="65" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:6pt'>Direct
      Facsimile</font></p></td>
    <td width="100" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:6pt'>(310)
      443-6737</font></p></td></tr>
  <tr>
    <td width="65" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:6pt'>Email</font></p></td>
    <td width="100" valign=top>
      <p style='margin-top:0pt;margin-bottom:0pt;text-align:left'><font face="arial" color="#0000FF" style='font-size:6pt'>linda_peterson@oxy.com</font></p></td></tr></table>

<p style='margin-top:48pt;margin-bottom:0pt;margin-left:325px;text-align:left;width:320;line-height:115%'><font face="times new roman" style='font-size:12pt'>May
7, 2007</font></p>

<p style='margin-top:24pt;margin-bottom:0pt;margin-left:25px;text-align:left;width:670;line-height:115%'><font face="times new roman" style='font-size:12pt'>Occidental
Petroleum Corporation
  <br>10889 Wilshire Boulevard
  <br>Los Angeles, CA 90024</font></p>

<table width="670" cellpadding=0 cellspacing=0 border=0 style='margin-left:25px'>
  <tr>
    <td width="75" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left;line-height:115%'><font face="times new roman" style='font-size:12pt'>Re:</font></p></td>
    <td width="595" valign=top>
      <p style='margin-top:12pt;margin-bottom:0pt;text-align:left;line-height:115%'><font face="times new roman" style='font-size:12pt'>Occidental
      Petroleum Corporation
        <br>Registration Statement on Form S-8
        <br>Occidental Petroleum Corporation
        <br><u>2005 Long-Term Incentive Plan</u></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:25px;text-align:left;width:670;line-height:115%'><font face="times new roman" style='font-size:12pt'>Ladies
and Gentlemen:</font></p>

<p style='margin-top:12.0pt;margin-bottom:0pt;margin-left:25px;text-indent:50px;text-align:justify;width:670;line-height:115%'><font face="times new roman" style='font-size:12pt'>I
am an Associate General Counsel of Occidental Petroleum Corporation, a Delaware corporation ("Occidental"), and have acted as
counsel to Occidental in connection with the preparation of the above-referenced Registration Statement on Form S-8, submitted by
Occidental to the Securities and Exchange Commission ("Commission") on May 8, 2007 (the "Registration Statement"). The Registration
Statement relates to the registration under the Securities Act of 1933, as amended (the "1933 Act"), of 32,000,000 shares (the
"Shares") of Common Stock, par value $.20 per share, of Occidental. The Shares are to be issued in accordance with the Occidental
Petroleum Corporation 2005 Long-Term Incentive Plan (the "Plan").</font></p>

<p style='margin-top:12.0pt;margin-bottom:0pt;margin-left:25px;text-indent:50px;text-align:justify;width:670;line-height:115%'><font face="times new roman" style='font-size:12pt'>In
connection with this opinion, I have examined and am familiar with originals or copies, certified or otherwise identified to my
satisfaction, of such records of Occidental and all such agreements, certificates of public officials, certificates of officers or
other representatives of Occidental and others and such other documents, certificates and records as I have deemed necessary or
appropriate as a basis for the opinions set forth herein, including, without limitation, (i) the Registration Statement (together
with the form of prospectus forming a part thereof), (ii) the Restated Certificate of Incorporation and By-laws of Occidental, as
amended to date, (iii) copies of certain resolutions adopted by the Board of Directors of Occidental, relating to the adoption of
the Plan, the filing of the Registration Statement and any amendments or supplements thereto, and the issuance of the Shares and
related matters, (iv) copies of the action adopted at the Annual Meeting of Stockholders approving the amendment of the Plan to
increase the number of shares available for issuance and (v) the Plan.  In my examination, I have assumed the genuineness of all
signatures, the legal capacity of natural persons, the authenticity of all documents submitted to me as originals, the conformity to
original documents of all documents submitted to me as certified, conformed or photostatic copies and the authenticity of the
originals of such copies.  As to any facts material to the opinions expressed herein which I have not independently established or
verified, I have relied upon statements and representations of officers and other representatives of Occidental and
others.</font></p>

<p style='page-break-before:always'></p>

<page>

<p style='margin-top:0pt;margin-bottom:0pt;margin-left:25px;text-align:left;width:670;line-height:115%'><font face="times new roman" style='font-size:12pt'>Occidental
Petroleum Corporation
  <br>May 8, 2007
  <br>Page 2</font></p>

<p style='margin-top:12.0pt;margin-bottom:0pt;margin-left:25px;text-indent:50px;text-align:justify;width:670;line-height:115%'><font face="times new roman" style='font-size:12pt'>I
am a member of the California and New York Bars and for purposes of this opinion do not hold myself out as an expert on, nor do I
express any opinion as to, the laws of any jurisdiction other than the General Corporation Law of the State of Delaware.</font></p>

<p style='margin-top:12.0pt;margin-bottom:0pt;margin-left:25px;text-indent:50px;text-align:justify;width:670;line-height:115%'><font face="times new roman" style='font-size:12pt'>Based
upon and subject to the foregoing, I am of the opinion that the Shares have been duly authorized and, when issued and paid for in
accordance with the Plan, will be validly issued, fully paid and nonassessable.</font></p>

<p style='margin-top:12.0pt;margin-bottom:0pt;margin-left:25px;text-indent:50px;text-align:justify;width:670;line-height:115%'><font face="times new roman" style='font-size:12pt'>This
opinion is delivered in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the 1933 Act and is furnished to
you solely for your benefit in connection with the filing of the Registration Statement and is not to be used, circulated, quoted or
otherwise referred to for any other purpose without my prior written consent. I hereby consent to the filing of this opinion with
the Commission as Exhibit 5 to the Registration Statement. I also consent to the reference to me under the heading &#147;Legal
Matters&#148; in the Registration Statement. In giving this consent, I do not thereby admit that I am included in the category of
persons whose consent is required under Section 7 of the 1933 Act or the rules and regulations of the Commission promulgated
thereunder.</font></p>

<p style='margin-top:24pt;margin-bottom:0pt;margin-left:325px;text-align:left;width:320;line-height:115%'><font face="times new roman" style='font-size:12pt'>Very
truly yours,</font></p>

<p style='margin-top:24pt;margin-bottom:0pt;margin-left:325px;text-align:left;width:320;line-height:115%'><font face="times new roman" style='font-size:12pt'>/s/
LINDA S. PETERSON</font></p>

<p style='margin-top:24pt;margin-bottom:0pt;margin-left:325px;text-align:left;width:320;line-height:115%'><font face="times new roman" style='font-size:12pt'>Linda
S. Peterson</font></p>

</body>

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<TYPE>EX-10
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<FILENAME>ex101-20070507.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html>

<head>
  <title>Exhibit 10.1</title>
</head>

<body bgcolor="#ffffff">

<p style='margin-top:0pt;margin-bottom:0pt;text-align:right;width:720'><font face="times new roman" style='font-size:11.0pt'><b>EXHIBIT
10.1</b></font></p>

<p style='margin-top:12.0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:11.0pt'><b>OCCIDENTAL
PETROLEUM CORPORATION</b></font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:11.0pt'><b>2005
LONG-TERM INCENTIVE PLAN</b></font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>1.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>Purpose</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>The purposes
of this Plan are (i) to furnish a significant incentive to the employees and non-employee Directors of the Company and its
subsidiaries by making available to them the benefits of increased ownership of Shares (ii) to promote the alignment of the
interests of employees and non-employee Directors on the one hand and stockholders on the other hand and (iii) to assist in the
recruitment and retention of employees and non-employee Directors.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>2.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>Definitions</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Board&#148;</b>
means the Board of Directors of the Company.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Business
Combination&#148;</b> means a merger, consolidation, or other reorganization, with or into, or the sale of all or substantially all
of the Company&#146;s business and/or assets as an entirety to, one or more entities that are not subsidiaries or other affiliates
of the Company.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Change
in Control&#148;</b> means the occurrence of any of the following events:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Approval by the stockholders of the Company of the dissolution or liquidation of the Company, other than in the context of a
transaction that does not constitute a Change in Control under clause (b) below;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Consummation of a Business Combination, <u>unless</u> (1) as a result of the Business Combination, more than 50 percent of the
outstanding voting power of the Successor Entity immediately after the reorganization is, or will be, owned, directly or indirectly,
by persons who were holders of the Company&#146;s voting securities immediately before the Business Combination; (2) no
&#147;<i>person</i>&#148; (as such term is used in Sections&nbsp;13(d) and 14(d) of the Exchange Act), excluding the Successor
Entity or an Excluded Person, beneficially owns, directly or indirectly, more than 20 percent of the outstanding shares or the
combined voting power of the outstanding voting securities of the Successor Entity, after giving effect to the Business Combination,
except to the extent that such ownership existed prior to the Business Combination; and (3) at least 50 percent of the members of
the board of directors of the entity resulting from the Business Combination were Directors at the time of the execution of the
initial agreement or of the action of the Board approving the Business Combination;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any <b>&#147;</b>person<b>&#148;</b> (as such term is used in Sections 13(d) and 14(d) of the Exchange Act, but excluding any
Excluded Person) is or becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing 20 percent or more of the combined voting power of the Company&#146;s then outstanding voting
securities, other than as a result of (1) an acquisition directly from the Company; (2) an acquisition by the Company; or (3) an
acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or a Successor Entity;
or</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
During any period not longer than two consecutive years, individuals who at the beginning of such period constituted the Board cease
to constitute at least a majority thereof, unless the election, or the nomination for election by the Company&#146;s stockholders,
of each new Director was approved by a vote of at least two-thirds (2/3) of the Directors then still in office who were Directors at
the beginning of such period (including for these purposes, new members whose election or nomination was so approved), but
excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>1</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>actual
or threatened election contest with respect to the election or removal of Directors or other actual or threatened solicitation of
proxies or consents by or on behalf of a person other than the Board.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Code&#148;</b>
means the Internal Revenue Code of 1986, as amended from time to time.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Committee&#148;</b>
means the Executive Compensation and Human Resources Committee of the Board or its successor, which shall be composed of not less
than two members of the Board, each of whom shall be a &#147;non-employee director&#148; within the meaning of Rule 16b-3 and an
&#147;outside director&#148; within the meaning of Section 162(m).</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Company&#148;</b>
means Occidental Petroleum Corporation, a Delaware corporation.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Director&#148;</b>
means a member of the Board.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Disability&#148;</b>
means permanent and total disability as defined in Section 22(e)(3) of the Code.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Effective
Date&#148;</b> means May 6, 2005, or such later date as this Plan is approved by the stockholders of the Company.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Eligible
Person&#148;</b> means any person who is an officer or employee of the Company or any of its subsidiaries and any person who is a
non-employee Director; provided, however that a non-employee Director shall not be an Eligible Person for purposes of awarding of
ISOs.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Exchange
Act&#148;</b> means the Securities Exchange Act of 1934, as amended from time to time.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Excluded
Person&#148;</b> means any employee benefit plan of the Company and any trustee or other fiduciary holding securities under a
Company employee benefit plan or any person described in and satisfying the conditions of Rule 13d-1(b)(i) of the Exchange
Act.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Fair
Market Value&#148;</b> means the last reported sale price of a share of Common Share on the New York Stock Exchange &#150; Composite
Transactions on the relevant date or, if there are no reported sales on such date, then the last reported sales price on the next
preceding day on which such a sale is transacted.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;ISO&#148;</b>
means an incentive stock option qualified under Section 422 of the Code.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Performance-Based
Award&#148;</b> means an award whose grant, vesting, exercisability or payment depends upon on any one or more of the Performance
Objectives, in each case relative to Performance Goals, on an absolute or relative basis (including comparisons to peer companies)
or ratio with other Performance Objectives, either as reported currency or constant currency, pre-tax or after-tax, before or after
special charges, for the Company on a consolidated basis or for one or more subsidiaries, segments, divisions or business units, or
any combination of the foregoing. The applicable performance period may range from one to five years.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Performance
Goal&#148;</b> means a preestablished targeted level or levels of any one or more Performance Objectives.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Performance
Objectives&#148;</b> mean any one or more of the following business criteria: A/R day sales outstanding, A/R to sales, debt, debt to
debt plus stockholder equity, debt to EBIT or EBITDA, EBIT, EBITDA, EPS, EVA, expense reduction, interest coverage, inventory to
sales, inventory turns, net income, operating cash flow, pre-tax margin, return on assets, return on capital employed, return on
equity, sales, stock price appreciation, and total stockholder return (TSR), each as defined further in</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>2</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>Appendix
A. These terms are used as applied under generally accepted accounting principles (if applicable) and in the Company&#146;s
financial reporting.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Plan&#148;</b>
means this Occidental Petroleum Corporation 2005 Long-Term Incentive Plan, as amended from time to time.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Qualifying
Options&#148;</b> mean options and stock appreciation rights granted with an exercise price not less than Fair Market Value on the
date of grant. Qualifying Options are Performance-Based Awards.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Rule
16b-3&#148;</b> means Rule 16b-3 under Section 16 of the Exchange Act.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Section
162(m)&#148;</b> means Section 162(m) of the Code and the applicable regulations and interpretations thereunder.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Section
162(m) Award&#148;</b> means a Performance-Based Award intended to satisfy the requirements for &#147;performance-based
compensation&#148; within the meaning of Section 162(m).</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Share
Limit&#148;</b> means the maximum number of Shares, as adjusted, that may be delivered pursuant to all awards granted under this
Plan.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Shares&#148;</b>
mean the Company&#146;s Common Stock, par value $0.20 per share.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Successor
Entity&#148;</b> means the surviving or resulting entity or a parent thereof of a Business Combination.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>3.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>Shares
      Subject to the Plan</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>3.1</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>AGGREGATE SHARE LIMIT -</b> Subject to adjustment as provided in or pursuant to this Section 3 or Section 7, a total of sixty-six
million (66,000,000) Shares shall be authorized for issuance pursuant to awards granted under this Plan. Any Shares issued in
connection with awards other than options and stock appreciation rights shall be counted against the limit described above as three
(3) Shares for every one Share issued in connection with such award or by which the award is valued by reference as three (3)
Shares.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>3.2</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>INDIVIDUAL LIMIT -</b> No individual shall be granted options, stock appreciation rights or other awards in any 36-month period
covering more than eight million (8,000,000) Shares, and in the case of ISOs granted to any individual who owns more than ten
percent of the outstanding stock of the Company within the meaning of Section 422 of the Code the maximum term may not exceed five
(5) years and the minimum exercise price may not be less than 110 percent of Fair Market Value on the date of grant.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>3.3</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>REISSUE OF AWARDS AND SHARES -</b> Awards payable in cash or payable in cash or Shares, including restricted shares, that are
forfeited, cancelled, or for any reason do not vest under this Plan, and Shares that are subject to awards that expire or for any
reason are terminated, cancelled or fail to vest shall be available for subsequent awards under this Plan. If an award under this
Plan is or may be settled only in cash, such award need not be counted against any of the share limits under this Section 3, except
as may be required to preserve the status of an award as &#147;performance-based compensation&#148; under Section 162(m). Shares
subject to options or stock appreciation rights that are exercised shall not be available for subsequent awards. The following
transactions involving Shares will not result in additional Shares becoming available for subsequent awards under this Plan: (i)
Shares tendered in payment of an</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>3</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>option;
(ii) Shares withheld for taxes; and (iii) Shares repurchased by the Company using option proceeds.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>4.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>Plan
      Administration</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>This
Plan shall be administered by the Committee.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>4.1</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>POWERS OF THE COMMITTEE -</b> Subject to the express provisions of this Plan, the Committee shall be authorized and empowered to
do all things necessary or desirable in connection with the authorization of awards and the administration of this Plan within its
delegated authority, including, without limitation, the authority to:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
adopt, amend and rescind rules, regulations and procedures relating to this Plan and its administration or the awards granted under
this Plan and determine the forms of awards;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
determine who is an Eligible Person and to which Eligible Persons, if any, awards will be granted under this Plan;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
grant awards to Eligible Persons and determine the terms and conditions of such awards, including but not limited to the number and
value of Shares issuable pursuant thereto, the times (subject to Section 5.5) at which and conditions upon which awards become
exercisable or vest or shall expire or terminate, and (subject to applicable law) the consideration, if any, to be paid upon
receipt, exercise or vesting of awards;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
determine the date of grant of an award, which may be a designated date after but not before the date of the Committee&#146;s
action;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
determine whether, and the extent to which, adjustments are required pursuant to Section 7 hereof;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
interpret and construe this Plan and the terms and conditions of any award granted hereunder, whether before or after the date set
forth in Section 5;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
determine the circumstances under which, consistent with the provisions of Section 8.2, any outstanding award may be amended and
make any amendments thereto that the Committee determines are necessary or appropriate; and</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
acquire or settle rights under options, stock appreciation rights or other awards in cash, stock of equivalent value, or other
consideration.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>All
authority granted herein (except as provided in Section 6) shall remain in effect so long as any award remains outstanding under
this Plan.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>4.2</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>SPECIFIC COMMITTEE RESPONSIBILITY AND DISCRETION REGARDING AWARDS -</b> Subject to the express provisions of this Plan, the
Committee, in its sole and absolute discretion, shall determine all of the terms and conditions of each award granted under this
Plan, which terms and conditions may include, subject to such limitations as the Committee may from time to time impose, among other
things, provisions that:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
permit the recipient of such award to pay the purchase price of the Shares or other property issuable pursuant to such award, or any
applicable tax withholding obligation upon such</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>4</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>issuance
or in respect of such award or Shares, in whole or in part, by any one or more of the following:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:100px;text-align:justify;width:620'><font face="times new roman" style='font-size:11.0pt'>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
cash, cash equivalent, or electronic funds transfer,</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:100px;text-align:justify;width:620'><font face="times new roman" style='font-size:11.0pt'>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the delivery of previously owned shares of capital stock of the Company (including shares acquired as or pursuant to awards) or
other property,</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:100px;text-align:justify;width:620'><font face="times new roman" style='font-size:11.0pt'>(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
a reduction in the amount of Shares or other property otherwise issuable pursuant to such award,</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:100px;text-align:justify;width:620'><font face="times new roman" style='font-size:11.0pt'>(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
a cashless exercise, or </font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:100px;text-align:justify;width:620'><font face="times new roman" style='font-size:11.0pt'>(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any other legal consideration the Committee deems appropriate;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
qualify such award as an ISO;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
accelerate the receipt of benefits pursuant to an award or adjust the exercisability, term (subject to other limits) or vesting
schedule of any or all outstanding awards, adjust the number of Shares subject to any award, adjust the price of any or all
outstanding awards or otherwise change previously imposed terms and conditions, pursuant to a termination of employment or an event
referenced in Section 7 (in which case the Committee&#146;s discretion shall be exercised in a manner consistent with Section 7) or
in other circumstances or upon the occurrence of other events as deemed appropriate by the Committee, by amendment of an outstanding
award, by substitution of an outstanding award, by waiver or by other legally valid means (which may result, among other changes, in
a greater or lesser number of shares subject to the award, a shorter or longer vesting or exercise period, or, except as provided
below, an exercise or purchase price that is higher or lower than the original or prior award), in each case subject to Sections 3
and 8.2; provided, however, that in no case (other than an adjustment contemplated by Section 7.2) shall the exercise price of any
option or stock appreciation right be reduced by an amendment to the award or a cancellation and re-grant of the award to effect a
repricing of the award to a price below the Fair Market Value of the underlying Shares on the grant date of the original option or
stock appreciation right unless specific stockholder consent is obtained;</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
authorize (subject to Sections 7, 8, and 10) the conversion, succession or substitution of one or more outstanding awards upon the
occurrence of an event of the type described in Section 7 or in other circumstances or upon the occurrence of other events as deemed
appropriate by the Committee; and</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
determine the value of and acquire or otherwise settle awards upon termination of employment, upon such terms as the Committee
(subject to Sections 7, 8 and 10) deems appropriate.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>4.3</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>DELEGATION -</b> Subject to Section 4.5, the Board may delegate different levels of authority to different committees with
administrative and grant authority under this Plan, provided that each designated committee granting any awards hereunder shall
consist exclusively of a member or members of the Board. A majority of the members of the acting committee shall constitute a
quorum. The vote of a majority of the members present assuming the presence of a quorum or the unanimous written consent of the
Committee shall constitute action by the committee. The Committee may delegate authority to grant awards under this Plan for new
employees to an officer of the Company who is also a director and</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>5</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>may
delegate ministerial, non-discretionary functions to individuals who are officers or employees of the Company or a subsidiary or to
third parties.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>4.4</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>BIFURCATION -</b> Notwithstanding anything to the contrary in this Plan, the provisions of this Plan may at any time be
bifurcated by the Board or the Committee in any manner so that provisions of any award agreement (or this Plan) intended or required
in order to satisfy the applicable requirements of Rule 16b-3, Section 162(m) or other applicable law, to the extent permitted
thereby, are applicable only to persons subject to those provisions and to those awards to those persons intended to satisfy the
requirements of the applicable legal restriction.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>4.5</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>AWARDS TO NON-EMPLOYEE DIRECTORS -</b>Notwithstanding any provision in this Plan to the contrary and without being subject to
management discretion, the Board, acting through the non-employee Directors only, shall have the authority, in its sole and absolute
discretion, to select non-employee Directors to receive awards other than ISOs under this Plan. The Board, acting through the
non-employee Directors only shall set the terms of any such awards in its sole and absolute discretion, and the Board, acting
through the non-employee Directors only, shall be responsible for administering and construing such awards in substantially the same
manner that the Committee administers and construes awards to other Eligible Persons.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>5.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>Awards</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>5.1</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>TYPE AND FORM OF AWARDS -</b> All awards shall be evidenced in writing (including electronic form), substantially in the form
approved by the Committee. The types of awards that the Committee may grant include, but are not limited to, any of the following,
on an immediate or deferred basis, either singly, or in tandem or in combination with or in substitution for, other awards of the
same or another type: (i)&nbsp;Shares, (ii)&nbsp;options (ISOs or nonqualified stock options), stock appreciation rights (including
limited stock appreciation rights), restricted stock (which shall vest over a period of not less than three years), stock units, or
similar rights to purchase or acquire shares, whether at a fixed or variable price or ratio related to the Shares, upon the passage
of time, the occurrence of one or more events, or the satisfaction of Performance Goals or other conditions, or any combination
thereof, (iii) any similar securities with a value derived from the value of or related to the Shares or other securities of the
Company and/or returns thereon, or (iv) cash. Share-based awards may include (without limitation) stock options, stock purchase
rights, stock bonuses, stock units, stock appreciation rights, limited stock appreciation rights, phantom stock, dividend
equivalents (independently or in tandem with any form of stock grant), dividend rights (independently or in tandem with any form of
stock grant), Shares, any of which may be payable in Shares or cash, and may consist of one or more of such features in any
combination.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>5.2</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>PERFORMANCE-BASED AWARDS -</b> Any of the types of awards listed in Section 5.1 may be granted as Performance-Based
Awards.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'><b>5.2.1</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>Section 162(m) Awards.</b> The Committee has discretion to determine if any Performance-Based Award is intended to be a Section
162(m) Award. The specific Performance Goals in respect of Section 162(m) Awards, other than Qualifying Options, must be approved by
the Committee in advance of any applicable deadlines under Section 162(m) and while the performance relating to those goals remains
substantially uncertain within the meaning thereof. The persons eligible for Section 162(m) Awards shall be executive officers of
the Company and its subsidiaries and, in the discretion of the Committee, other employees of the Company or its subsidiaries who are
designated by the Committee to receive a Section 162(m) Award because they may be executive officers of the Company or its
subsidiaries by the time their awards are</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>6</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>exercised,
vested or paid. Except as otherwise permitted under Section 162(m), before any Section 162(m) Award is paid, the Committee must
certify that the Performance Goal and any other material terms of the Section 162(m) Award were in fact satisfied.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'><b>5.2.2</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>Reservation of Discretion -</b> The Committee shall have discretion to determine the conditions, restrictions or other
limitations, in accordance with the terms of this Plan and, in the case of Section 162(m) Awards, the limitations of Section 162(m),
on the payment of individual Performance-Based Awards under this Section 5.2.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'><b>5.2.3</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>Adjustments -</b> Performance Goals or other features of an award under this Section 5.2 may be (i) adjusted to reflect a change
in corporate capitalization, a corporate transaction (such as a reorganization, combination, separation, merger, acquisition, or any
combination of the foregoing) or a complete or partial corporate liquidation, or (ii) calculated either without regard for or to
reflect any change in accounting policies or practices affecting the Company and/or the Performance Objectives or Performance Goals,
or (iii) adjusted for any other circumstances or event, or (iv) any combination of (i) through (iii), but only to the extent in each
case that such adjustment or determination in respect of Section 162(m) Awards would be consistent with the requirements of Section
162(m) to qualify as performance-based compensation.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>5.3</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>CONSIDERATION FOR SHARES -</b> Shares may be issued pursuant to an award for any lawful consideration as determined by the
Committee, including, without limitation, services rendered by the recipient of such award, but shall not be issued for less than
the minimum lawful consideration. Awards may be payable in cash, stock or other consideration or any combination thereof, as the
Committee shall designate in or (except as required by Section 5.2) by amendment to the terms and conditions governing such
award.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>5.4</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>LIMITED RIGHTS -</b> Except as otherwise expressly authorized by the Committee or this Plan or in the applicable award terms and
conditions, a participant will not be entitled to any privilege of stock ownership as to any Shares not actually delivered to and
held of record by the participant. No adjustment will be made for dividends or other rights as a stockholder for which a record date
is prior to such date of delivery.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>5.5</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>OPTION/STOCK APPRECIATION RIGHT PRICING AND TERM LIMITS -</b> The purchase price per share of the Shares covered by any option or
the base price of any stock appreciation right shall be determined by the Committee at the time of the grant, but shall not be less
than 100 percent of the Fair Market Value of the Shares on the date of grant. Any option, stock appreciation right, warrant or
similar right shall expire and any other award shall vest not more than 10 years after the date of grant. An award may be converted
or convertible, notwithstanding the foregoing limits, into or payable in, Shares or another award that otherwise satisfies the
requirements of this Plan.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>5.6</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>TRANSFER RESTRICTIONS -</b> Unless otherwise expressly provided in or permitted by this Section 5.6, by applicable law or by the
award terms and conditions (i) all awards are nontransferable and shall not be subject in any manner to sale, transfer,
anticipation, alienation, assignment, pledge, encumbrance or charge; (ii) awards shall be exercised only by the holder; and (iii)
amounts payable or shares issuable pursuant to an award shall be delivered only to (or for the account of) the holder.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'><b>5.6.1</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>Exceptions by Committee Action -</b> The Committee, in its sole discretion, may permit an award to be transferred for estate
and/or tax planning purposes and on a basis consistent with the Company&#146;s lawful issue of securities and the incentive purposes
of the award and this Plan. Notwithstanding the foregoing, awards intended as ISOs or restricted stock awards for purposes</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>7</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>of
the Code shall be subject to any and all additional transfer restrictions necessary to preserve their status as ISOs or restricted
shares, as the case may be, under the Code.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'><b>5.6.2</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>Exclusions -</b> The exercise and transfer restrictions in this Section 5.6 shall not apply to:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:100px;text-align:justify;width:620'><font face="times new roman" style='font-size:11.0pt'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
transfers to the Company,</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:100px;text-align:justify;width:620'><font face="times new roman" style='font-size:11.0pt'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the designation of a beneficiary to receive benefits in the event of the participant&#146;s death or, if the participant has died,
transfers to or exercise by the participant&#146;s beneficiary, or, in the absence of a validly designated beneficiary, transfers by
will or the laws of descent and distribution,</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:100px;text-align:justify;width:620'><font face="times new roman" style='font-size:11.0pt'>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
transfers pursuant to a domestic relations order (if approved or ratified by the Committee), if (in the case of ISOs) permitted by
the Code,</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:100px;text-align:justify;width:620'><font face="times new roman" style='font-size:11.0pt'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
if the participant has suffered a Disability, permitted transfers to or exercises on behalf of the holder by his or her legal
representative, or</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:100px;text-align:justify;width:620'><font face="times new roman" style='font-size:11.0pt'>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the authorization by the Committee of &#147;cashless exercise&#148; procedures with third parties who finance or who otherwise
facilitate the exercise of awards consistent with applicable laws and the express authorization of the Committee.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>5.7</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>TAX WITHHOLDING -</b> Upon any exercise, vesting, or payment of any award, the Company shall:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
require the recipient (or his or her heirs, personal representatives or beneficiaries, as the case may be) to pay or provide for
payment of the amount of any taxes which the Company or any subsidiary may be required to withhold with respect to such transaction;
or</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
deduct from any amount payable in cash the amount of any taxes that the Company or any subsidiary may be required to withhold with
respect to such cash amount.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>5.8</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>POSSIBLE SHARE OFFSET -</b> In any case where a tax is required to be withheld in connection with the delivery of Shares under
this Plan, the Committee may require or may permit the holder the right to offset, pursuant to such rules and subject to such
conditions as the Committee may establish, the number of shares to be delivered by (or otherwise reacquire) the appropriate number
of shares valued at their then Fair Market Value, to satisfy the minimum statutory withholding taxes with respect
thereto.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>5.9</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>CASH AWARDS -</b> The Committee shall have the express authority to pay awards in cash under this Plan, whether in lieu of, in
addition to or as part of another award.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>5.10</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>TERMINATION OF EMPLOYMENT OR SERVICE -</b> If an Eligible Person's employment with or service to the Company or to any parent or
subsidiary terminates for any reason, his or her outstanding awards may thereafter be exercised (if at all) to the extent provided
in the agreement evidencing such award, or as otherwise determined by the Committee.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>6.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>Term
      of Plan</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>No
award shall be granted under this Plan after the tenth anniversary of the Effective Date of this Plan. After that date, this Plan
shall continue in effect as to then outstanding awards. Any then outstanding</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>8</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>award
may be amended thereafter in any manner that would have been permitted earlier, except that no such amendment shall increase the
number of Shares subject to, comprising or referenced in the award or reduce the exercise or base price of an option or stock
appreciation right or permit cash payments in an amount that exceeds the limits of Section 3 (as adjusted pursuant to Section
7.2).</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>7.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>Adjustments;
      Change in Control</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>7.1</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>CHANGE IN CONTROL; ACCELERATION AND TERMINATION OF AWARDS -</b> Unless prior to a Change  in Control, the Committee determines
that, upon its occurrence, benefits under any or all awards will not accelerate or determines that only certain or limited benefits
under any or all awards will be accelerated and the extent to which they will be accelerated, or establishes a different time in
respect of such Change in Control for such acceleration, then upon the occurrence of a Change in Control:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
each option and stock appreciation right shall become immediately exercisable,</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
restricted stock shall immediately vest free of restrictions,</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
each award under Section 5.2 shall become payable to the participant,</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the number of Shares covered by each stock unit account shall be issued to the participant, and</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any other rights of a participant under any other award will be accelerated to give the participant the benefit intended under any
such award.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>The
Committee may override the limitations on acceleration in this Section 7.1 by express provision in the award agreement and may
accord any Eligible Person a right to refuse any acceleration, whether pursuant to the award agreement or otherwise, in such
circumstances as the Committee may approve. Any acceleration of awards shall comply with applicable legal and regulatory
requirements. Without limiting the generality of the foregoing, the Committee may deem an acceleration to occur immediately prior to
or up to 30 days before the applicable event and/or reinstate the original terms of an award if an event giving rise to an
acceleration does not occur.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>If
any option or other right to acquire Shares under this Plan has been fully accelerated as required or permitted by this Plan but is
not exercised prior to (i) a dissolution of the Company, or (ii) an event described in this Section 7.1 that the Company does not
survive, or (iii) the consummation of an event described in Section 7.2 involving a Change in Control approved by the Board, such
option or right will terminate, subject to any provision that has been expressly made by the Committee or the Board through a plan
of reorganization approved by the Board or otherwise for the survival, substitution, assumption, exchange or other settlement of
such option or right.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>7.2</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>ADJUSTMENTS -</b> The following provisions will apply if any extraordinary dividend or other extraordinary distribution occurs in
respect of the Shares (whether in the form of cash, Shares, other securities, or other property), or any reclassification,
recapitalization, stock split (including a stock split in the form of a stock dividend), reverse stock split, reorganization,
merger, combination, consolidation, split-up, spin-off, repurchase, or exchange of Shares or other securities of the Company, or any
similar, unusual or extraordinary corporate transaction (or event in respect of the Shares) or a sale of substantially all the
assets of the Company as an entirety occurs. The Committee will, in such manner and to such extent (if any) as it deems appropriate
and equitable:</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>9</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
proportionately adjust any or all of (i) the number and type of Shares (or other securities) that thereafter may be made the subject
of awards (including the specific maxima and numbers of shares set forth elsewhere in this Plan), (ii) the number, amount and type
of shares (or other securities or property) subject to any or all outstanding awards, (iii) the grant, purchase, or exercise price
of any or all outstanding awards, (iv) the securities, cash or other property deliverable upon exercise of any outstanding awards,
or (v) the Performance Goals or Performance Objectives appropriate to any outstanding awards, or</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
in the case of an extraordinary dividend or other distribution, recapitalization, reclassification, merger, reorganization,
consolidation, combination, sale of assets, split-up, exchange, or spin-off, make provision for a cash payment or for the
substitution or exchange of any or all outstanding awards or the cash, securities or property deliverable to the holder of any or
all outstanding awards based upon the distribution or consideration payable to holders of the Shares of the Company upon or in
respect of such event.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>In
each case, with respect to awards of ISOs, no such adjustment will be made that would cause this Plan to violate Section 422 or 424
of the Code or any successor provisions without the written consent of holders materially adversely affected thereby. In any of such
events, the Committee may take such action sufficiently prior to such event if necessary or deemed appropriate to permit the
participant to realize the benefits intended to be conveyed with respect to the underlying shares in the same manner as is available
to stockholders generally.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>8.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>Plan
      Amendment and Termination</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>8.1</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>AUTHORITY OF THE BOARD -</b> Subject to Sections 8.2 and 8.3 and New York Stock Exchange Rules applicable to companies listed on
such Exchange, the Board may amend or terminate this Plan at any time and in any manner.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>8.2</b> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>RESTRICTIONS -</b> No amendment or termination of this Plan or change in or affecting any outstanding award shall deprive in any
material respect the holder, without the consent of the holder, of any of his or her rights or benefits under or with respect to the
award. Adjustments contemplated by Section 7 shall not be deemed to constitute a change requiring such consent.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>8.3</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>STOCKHOLDER APPROVAL -</b> Stockholder approval shall be required for any amendment to this Plan that would:</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
materially increase the benefits accruing to participants under this Plan,</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
materially increase the number of securities which may be issued under this Plan, or</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;margin-left:50px;text-align:justify;width:670'><font face="times new roman" style='font-size:11.0pt'>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
materially modify the requirements as to eligibility for participation in this Plan.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>9.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>Legal
      Matters</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>9.1</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>COMPLIANCE AND CHOICE OF LAW; SEVERABILITY -</b> This Plan, the granting and vesting of awards under this Plan and the issuance
and delivery of Shares and/or the payment of money under this Plan or under awards granted hereunder are subject to compliance with
all applicable federal and state laws, rules and regulations and to such approvals by any listing, regulatory or governmental
authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. This Plan, the
awards, all documents evidencing awards and all other related documents shall be governed by, and construed in accordance with the
laws of the state of Delaware. If any provision shall</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>10</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>be
held by a court of competent jurisdiction to be invalid and unenforceable, the remaining provisions of this Plan shall continue in
effect.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>9.2</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>NON-EXCLUSIVITY OF PLAN -</b> Nothing in this Plan shall limit or be deemed to limit the authority of the Board or the Committee
to grant awards or authorize any other compensation, with or without reference to the Shares, under any other plan or
authority.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>9.3</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>NO EMPLOYMENT CONTRACT -</b> Nothing contained in this Plan (or in any other documents relating to this Plan or to any award)
shall confer upon any Eligible Person or other participant any right to continue in the employ or other service of the Company or
any subsidiary or constitute any contract or agreement of employment or other service, nor shall interfere in any way with the right
of the Company or any subsidiary to change such person&#146;s compensation or other benefits or to terminate the employment of such
person, with or without cause.</font></p>

<table border="0" cellspacing=0 cellpadding=0 width="720" style='border-collapse:collapse'>
  <tr>
    <td width="50" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>10.</b></font></p></td>
    <td width="670" valign=top>
      <p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left'><font face="times new roman" style='font-size:11.0pt'><b>Miscellaneous</b></font></p></td></tr></table>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>10.1</b>&nbsp;&nbsp;&nbsp;&nbsp;
<b>UNFUNDED PLAN -</b> Unless otherwise determined by the Committee, this Plan shall be unfunded and shall not create (or be
construed to create) a trust or a separate fund or funds. This Plan shall not establish any fiduciary relationship between the
Company or any subsidiary and any participant or other person. To the extent any person holds any rights by virtue of awards granted
under this Plan, such rights shall be no greater than the rights of an unsecured general creditor of the Company.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>10.2</b>&nbsp;&nbsp;&nbsp;&nbsp;
<b>AWARDS NOT COMPENSATION -</b> Unless otherwise determined by the Committee, settlements of awards received by participants under
this Plan shall not be deemed a part of a participant&#146;s regular, recurring compensation for purposes of calculating payments or
benefits from any Company benefit plan, severance program or severance pay law of any country.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>10.3</b>&nbsp;&nbsp;&nbsp;&nbsp;
<b>FRACTIONAL SHARES -</b> The Company shall not be required to issue any fractional Shares pursuant to this Plan. The Committee may
provide for the elimination of fractions or for the settlement thereof in cash.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>10.4</b>&nbsp;&nbsp;&nbsp;&nbsp;
<b>FOREIGN PARTICIPANTS -</b> No award shall be made to a participant who is a foreign national or who is employed by the Company or
any subsidiary outside the United States of America if such award would violate applicable local law. In order to facilitate the
making of an award, the Committee may provide for such special terms for awards to participants who are foreign nationals, or who
are employed by the Company or any subsidiary outside of the United States of America, as the Committee may consider necessary or
appropriate to accommodate differences in local law, tax policy or custom.  Moreover, the Committee may approve such supplements to
or amendments to this Plan as it may consider necessary or appropriate for such purposes unless stockholder approval for any such
change would be required in accordance with the provisions of Section&nbsp;8.</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>11</font></p>

<page>

<p style='margin-top:12.0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:11.0pt'><b>APPENDIX
A TO 2005 LONG-TERM INCENTIVE PLAN</b></font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>PERFORMANCE
OBJECTIVES</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'>The
Performance Objectives shall have the meanings set forth below, in each case as reported in the financial statements of the Company
or applicable subsidiary, division, segment, or unit (&#147;financial statements&#148;).</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;A/R
Day Sales Outstanding&#148;</b> means trade accounts receivable (A/R)(net of reserves) divided by latest historical day
Sales.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;A/R
to Sales&#148;</b> means the ratio of accounts receivable to Sales.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Debt&#148;</b>
means all accounts classified as such in the financial statements.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Debt
to Debt plus stockholder equity&#148;</b> means the ratio of Debt to Debt plus stockholder equity.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Debt
to EBIT or EBITDA&#148;</b> means the ratio of Debt to EBIT or EBITDA.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;EBIT&#148;</b>
means Net Income before interest expense and taxes, which may be adjusted for special charges, if any.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;EBITDA&#148;</b>
means Net Income before interest expense, taxes, depreciation and amortization, which may be adjusted for special charges, if
any.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;EPS&#148;</b>
means Net Income divided by the weighted average number of Shares outstanding. The Shares outstanding may be adjusted to include the
dilutive effect of stock options, restricted stock and other dilutive financial instruments as required by generally accepted
accounting principles. </font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;EVA&#148;</b>
means operating profit after tax (OPAT) (which is defined as Net Income after tax but before tax adjusted interest income and
expense and goodwill amortization), less a charge for the use of capital (average total capital as such term is used below under
&#147;Return on Capital Employed&#148;). Net Income may be adjusted for special charges and acquisition activity costs, if any. The
charge for capital is the percentage cost of capital times the average total capital. The cost of capital is the weighted average
cost of capital as calculated for the Company.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Expense
Reduction&#148;</b> means reduction in actual expense or an improvement in the expense to Sales ratio compared to a target or prior
year actual expense to Sales ratio, which may be adjusted for special charges, if any.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Interest
Coverage&#148;</b> means the ratio of EBIT or EBITDA to interest expense. Net Income may be adjusted for special charges.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Inventory
to Sales&#148;</b> means the ratio of total inventory to Sales.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Inventory
Turns&#148;</b> means the ratio of total cost of goods sold on a historical basis to average net inventory. This ratio may be
adjusted for special charges, if any.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Net
Income&#148;</b> means the difference between total Sales plus other revenues and net total costs and expenses, including income
taxes.</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720;page-break-after:always'><font face="times new roman" style='font-size:11.0pt'>12</font></p>

<page>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Operating
Cash Flow&#148;</b> means the net cash provided by operating activities less net cash used by operations and investing activities as
shown on the statement of cash flows. The numbers relating to the foregoing may be adjusted for special charges, if any.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Pre-Tax
Margin&#148;</b> means the ratio of earnings before income taxes to Sales. Earnings may be adjusted for special charges, if
any.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Return
on Assets&#148;</b> means the ratio of Net Income to total average assets including goodwill. Earnings may be adjusted for special
charges and goodwill amortization for comparative purposes.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Return
on Capital Employed&#148;</b> means the ratio of Net Income plus tax-effected interest expense to long-term Debt plus stockholder
equity.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Return
on Equity&#148;</b> means the ratio of Net Income to stockholder equity. </font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Sales&#148;</b>
means sales, service and rental income from third parties net of discounts, returns and allowances.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Stock
Price Appreciation&#148;</b> means an increase, or an average annualized increase, in the stock price or market value of the Shares
of the Company after purchase of, or the date of grant of, an award or above a specified stock price.</font></p>

<p style='margin-top:12pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11.0pt'><b>&#147;Total
Stockholder Return or TSR&#148;</b> means the appreciation in the price of a Common Share plus reinvested dividends over a specified
period of time.</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:11.0pt'>13</font></p>

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<TYPE>EX-23
<SEQUENCE>5
<FILENAME>ex232-20070507.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
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  <title>Exhibit 23.2</title>
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<p style='margin-top:0pt;margin-bottom:0pt;text-align:right;width:720'><font face="arial" style='font-size:11pt'><b>EXHIBIT
23.2</b></font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720'><font face="times new roman" style='font-size:12pt'>INDEPENDENT
AUDITORS&#146; CONSENT</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>To the Board of
Directors</font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>Occidental
Petroleum Corporation:</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:justify;width:720'><font face="times new roman" style='font-size:11pt'>We
consent to the incorporation by reference in the registration statement on Form S-8 of Occidental Petroleum Corporation of our
reports dated February 27, 2007, with respect to the consolidated balance sheets of Occidental Petroleum Corporation as of December
31, 2006 and 2005, and the related consolidated statements of income, stockholders&#146; equity, comprehensive income, and cash
flows for each of the years in the three-year period ended December 31, 2006 and the related financial statement schedule,
management&#146;s assessment of the effectiveness of internal control over financial reporting as of December 31, 2006 and the
effectiveness of internal control over financial reporting as of December 31, 2006, which reports appear in the December 31, 2006
annual report on Form 10-K of Occidental Petroleum Corporation. Our report on the financial statements of Occidental Petroleum
Corporation refers to (i) a change in the method of accounting for defined benefit pension and other postretirement plans (effective
December 31, 2006), and (ii) a change in the method of accounting for share-based payments (effective July 1, 2005).</font></p>

<p style='margin-top:24.0pt;margin-bottom:0pt;text-align:center;width:720'>/s/ KPMG LLP</p>

<p style='margin-top:12.0pt;margin-bottom:0pt;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>Los
Angeles, California</font></p>

<p style='margin-top:0pt;margin-bottom:0pt;text-align:left;width:720'><font face="times new roman" style='font-size:11pt'>May 4,
2007</font></p>

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