EXHIBIT 99.3

Investor Relations Supplemental Schedules

Investor Relations Supplemental Schedules

Summary

($ Millions)

 

2Q 2007

2Q 2006

Reported Net Income

$1,412

$860

EPS - Diluted

$1.68

$0.99

Total Worldwide Production (mboe/day)

583

609

Total Worldwide Crude Oil Realizations ($/BBL)

$59.11

$61.66

Domestic Natural Gas Realizations ($/MCF)

$7.07

$6.23

Wtd. Average Basic Shares O/S (mm)

837.7

860.2

Wtd. Average Diluted Shares O/S (mm)

841.8

867.7

 

YTD 2007

YTD 2006

Reported Net Income

$2,624

$2,091

EPS - Diluted

$3.11

$2.42

Total Worldwide Production (mboe/day)

587

601

Total Worldwide Crude Oil Realizations ($/BBL)

$55.34

$58.53

Domestic Natural Gas Realizations ($/MCF)

$6.74

$7.25

Wtd. Average Basic Shares O/S (mm)

839.3

854.5

Wtd. Average Diluted Shares O/S (mm)

843.2

864.3

Shares Outstanding (mm)

830.7

845.3

Cash Flow from Operations

$2,900

$3,100

1

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2007 Second Quarter

Net Income (Loss)

($ millions)

 

Reported

 

 

 

Income

 

Significant Items Affecting Income

 

 

 

 

 

Asset

 

 

 

 

 

 

 

Sales

 

 

Oil & Gas

$

1,682

 

 

$

(23

)

 

Sale of mineral interests

Chemical

 

158

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

Interest expense, net

 

6

 

 

 

 

 

 

 

Other

 

470

 

 

 

(284

)

 

Sale of Lyondell shares

 

 

 

 

 

 

(116

)

 

Sale of Pakistan assets, net of tax

 

 

 

 

 

 

(107

)

 

Sale of Horn Mountain assets, net of tax

Taxes

 

(904

)

 

 

111

 

 

Tax effect of adjustments

 

 

 

 

 

 

 

 

 

 

Net Income

$

1,412

 

*

$

(419

)

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

Diluted

$

1.68

 

 

$

(0.50

)

 

 

* The second quarter reported income includes after-tax income for the following: $17 million for Pakistan operations, $27 million for Horn Mountain operations and $6 million for litigation and debt purchases.

2

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2006 Second Quarter

Net Income (Loss)

($ millions)

 

Reported

 

 

 

Income

 

Significant Items Affecting Income

Oil & Gas

$

1,857

 

 

 

 

 

 

 

Chemical

 

251

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(33

)

 

 

 

 

 

 

Other

 

(364

)

 

 

415

 

 

Ecuador write-off, net of tax

 

 

 

 

 

 

(45

)

 

Ecuador operations, net of tax

 

 

 

 

 

 

(23

)

 

Vintage held for sale, net of tax

Taxes

 

(851

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

$

860

 

 

 

 

 

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

Basic

$

1.00

 

 

 

 

 

 

 

Diluted

$

0.99

 

 

 

 

 

 

 

3

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2007 First Six Months

Net Income (Loss)

($ millions)

 

Reported

 

 

 

Income

 

Significant Items Affecting Income

Oil & Gas

$

3,690

 

 

$

(412

)

 

Sale of Russia – Vanyoganneft

 

 

 

 

 

 

(112

)

 

Litigation settlements

 

 

 

 

 

 

(23

)

 

Sale of mineral interests

Chemical

 

295

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(175

)

 

 

167

 

 

Debt purchases

Other

 

402

 

 

 

47

 

 

Plant closure

 

 

 

 

 

 

(284

)

 

Sale of Lyondell shares

 

 

 

 

 

 

(116

)

 

Sale of Pakistan assets, net

 

 

 

 

 

 

(107

)

 

Sale of Horn Mountain assets, net

Taxes

 

(1,588

)

 

 

34

 

 

Tax effect of adjustments

 

 

 

 

 

 

 

 

 

 

Net Income

$

2,624

 

 

 

 

 

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

Basic

$

3.13

 

 

 

 

 

 

 

Diluted

$

3.11

 

 

 

 

 

 

 

4

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2006 First Six Months

Net Income (Loss)

($ millions)

 

Reported

 

 

 

Income

 

Significant Items Affecting Income

Oil & Gas

$

3,668

 

 

 

 

 

 

 

Chemical

 

501

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

 

Interest expense, net

 

(62

)

 

 

 

 

 

 

Other

 

(291

)

 

 

415

 

 

Ecuador write-off, net of tax

 

 

 

 

 

 

(109

)

 

Ecuador operations, net of tax

 

 

 

 

 

 

(36

)

 

Vintage held for sale, net of tax

Taxes

 

(1,725

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

$

2,091

 

 

 

 

 

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

Basic

$

2.45

 

 

 

 

 

 

 

Diluted

$

2.42

 

 

 

 

 

 

 

5

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Worldwide Effective Tax Rate

 

QUARTERLY

 

YEAR-TO-DATE

 

2007

 

2007

 

2006

 

2007

 

2006

REPORTED INCOME

QTR 2

 

QTR 1

 

QTR 2

 

6 Months

 

6 Months

Oil & Gas (a)

1,682

 

 

2,008

 

 

1,857

 

 

3,690

 

 

3,668

 

Chemicals

158

 

 

137

 

 

251

 

 

295

 

 

501

 

Corporate & other

209

 

 

(292

)

 

(115

)

 

(83

)

 

(215

)

Pre-tax income

2,049

 

 

1,853

 

 

1,993

 

 

3,902

 

 

3,954

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal and state

456

 

 

266

 

 

402

 

 

722

 

 

835

 

Foreign (a)

448

 

 

418

 

 

449

 

 

866

 

 

890

 

Total

904

 

 

684

 

 

851

 

 

1,588

 

 

1,725

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

1,145

 

 

1,169

 

 

1,142

 

 

2,314

 

 

2,229

 

Worldwide effective tax rate

44%

 

37%

 

43%

 

41%

 

44%

INCOME EXCLUDING ASSET SALES

2007

 

2007

 

2006

 

2007

 

2006

AND OTHER SIGNIFICANT ITEMS

QTR 2

 

QTR 1

 

QTR 2

 

6 Months

 

6 Months

Oil & Gas (a)

1,656

 

 

1,487

 

 

1,857

 

 

3,143

 

 

3,668

 

Chemicals

158

 

 

137

 

 

251

 

 

295

 

 

501

 

Corporate & other

(80

)

 

(73

)

 

(115

)

 

(153

)

 

(215

)

Pre-tax income

1,734

 

 

1,551

 

 

1,993

 

 

3,285

 

 

3,954

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal and state

343

 

 

345

 

 

402

 

 

688

 

 

835

 

Foreign (a)

448

 

 

418

 

 

449

 

 

866

 

 

890

 

Total

791

 

 

763

 

 

851

 

 

1,554

 

 

1,725

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Core results

943

 

 

788

 

 

1,142

 

 

1,731

 

 

2,229

 

Worldwide effective tax rate

46%

 

49%

 

43%

 

47%

 

44%

(a) Revenues and income tax expense include taxes owed by Occidental but paid by governmental entities on its behalf. Oil and gas pre-tax income includes the following revenue amounts by periods.

 

2007

 

2007

 

2006

 

2007

 

2006

 

QTR 2

 

QTR 1

 

QTR 2

 

6 Months

 

6 Months

 

300

 

 

288

 

 

282

 

 

588

 

 

572

 

6

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2007 Second Quarter Net Income (Loss)

Reported Income Comparison

 

Second

 

First

 

 

 

 

 

Quarter

 

Quarter

 

 

 

 

 

2007

 

2007

 

B / (W)

Oil & Gas

$

1,682

 

 

$

2,008

 

 

$

(326

)

Chemical

 

158

 

 

 

137

 

 

 

21

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

6

 

 

 

(181

)

 

 

187

 

Other

 

470

 

 

 

(68

)

 

 

538

 

Taxes

 

(904

)

 

 

(684

)

 

 

(220

)

Net Income

$

1,412

 

 

$

1,212

 

 

$

200

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

Basic

$

1.68

 

 

$

1.44

 

 

$

0.24

 

Diluted

$

1.68

 

 

$

1.43

 

 

$

0.25

 

Worldwide Effective Tax Rate

44%

 

37%

 

-7%

Tax Rate Excluding Asset Sales

 

 

 

 

 

 

 

 

 

 

 

and Other Significant Items

46%

 

49%

 

3%

7

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Oil & Gas

Variance Analysis 2Q07 vs. 1Q07

($ millions)

OCCIDENTAL PETROLEUM

Chemical

Variance Analysis 2Q07 vs. 1Q07

($ millions)

* Higher energy and feedstock cost

8

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2007 Second Quarter Net Income (Loss)

Reported Income Comparison

 

Second

 

Second

 

 

 

 

 

Quarter

 

Quarter

 

 

 

 

 

2007

 

2006

 

B / (W)

Oil & Gas

$

1,682

 

 

$

1,857

 

 

$

(175

)

Chemical

 

158

 

 

 

251

 

 

 

(93

)

Corporate

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

6

 

 

 

(33

)

 

 

39

 

Other

 

470

 

 

 

(364

)

 

 

834

 

Taxes

 

(904

)

 

 

(851

)

 

 

(53

)

Net Income

$

1,412

 

 

$

860

 

 

$

552

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

Basic

$

1.68

 

 

$

1.00

 

 

$

0.68

 

Diluted

$

1.68

 

 

$

0.99

 

 

$

0.69

 

Worldwide Effective Tax Rate

44%

 

43%

 

-1%

Tax Rate Excluding Asset Sales

46%

 

43%

 

-3%

9

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Oil & Gas

Variance Analysis 2Q07 vs. 2Q06

($ millions)

* DD&A rate increase (46) and higher operating expenses

OCCIDENTAL PETROLEUM

Chemical

Variance Analysis 2Q07 vs. 2Q06

($ millions)

10

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

Second Quarter

 

Six Months

 

 

2007

 

2006

 

2007

 

2006

NET PRODUCTION PER DAY:

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil and Liquids (MBL)

 

 

 

 

 

 

 

 

 

 

 

 

California

 

93

 

 

82

 

 

89

 

 

83

 

Permian

 

163

 

 

168

 

 

164

 

 

167

 

Hugoton and other

 

3

 

 

3

 

 

4

 

 

3

 

Total

 

259

 

 

253

 

 

257

 

 

253

 

Natural Gas (MMCF)

 

 

 

 

 

 

 

 

 

 

 

 

California

 

268

 

 

258

 

 

250

 

 

255

 

Hugoton and other

 

154

 

 

136

 

 

152

 

 

134

 

Permian

 

187

 

 

199

 

 

192

 

 

194

 

Total

 

609

 

 

593

 

 

594

 

 

583

 

Latin America

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil (MBL)

 

 

 

 

 

 

 

 

 

 

 

 

Argentina

 

34

 

 

38

 

 

33

 

 

31

 

Colombia

 

44

 

 

34

 

 

43

 

 

36

 

Total

 

78

 

 

72

 

 

76

 

 

67

 

Natural Gas (MMCF)

 

 

 

 

 

 

 

 

 

 

 

 

Argentina

 

28

 

 

21

 

 

25

 

 

17

 

Bolivia

 

18

 

 

20

 

 

16

 

 

17

 

 

 

46

 

 

41

 

 

41

 

 

34

 

Middle East / North Africa

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil (MBL)

 

 

 

 

 

 

 

 

 

 

 

 

Oman

 

19

 

 

17

 

 

21

 

 

17

 

Qatar

 

47

 

 

44

 

 

46

 

 

44

 

Yemen

 

25

 

 

30

 

 

28

 

 

31

 

Libya

 

19

 

 

27

 

 

23

 

 

25

 

Total

 

110

 

 

118

 

 

118

 

 

117

 

Natural Gas (MMCF)

 

 

 

 

 

 

 

 

 

 

 

 

Oman

 

32

 

 

35

 

 

29

 

 

30

 

Barrels of Oil Equivalent (MBOE)

 

 

 

 

 

 

 

 

 

 

 

 

Subtotal consolidated subsidiaries

 

561

 

 

555

 

 

562

 

 

545

 

Other interests

 

 

 

 

 

 

 

 

 

 

 

 

Colombia - minority interest

 

(6

)

 

(5

)

 

(6

)

 

(5

)

Yemen - Occidental net interest

 

3

 

 

1

 

 

3

 

 

2

 

Worldwide production - continuing operations

 

558

 

 

551

 

 

559

 

 

542

 

Sold operations

 

 

 

 

 

 

 

 

 

 

 

 

Horn Mountain

 

9

 

 

13

 

 

9

 

 

14

 

Pakistan

 

16

 

 

18

 

 

16

 

 

17

 

Russia

 

-

 

 

27

 

 

3

 

 

28

 

Total worldwide production - MBOE

 

583

 

 

609

 

 

587

 

 

601

 

11

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

Second Quarter

 

Six Months

 

 

2007

 

2006

 

2007

 

2006

OIL & GAS:

 

 

 

 

 

 

 

 

 

 

 

 

PRICES

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil ($/BBL)

 

 

58.19

 

 

61.78

 

 

55.09

 

 

58.40

Natural gas ($/MCF)

 

 

7.07

 

 

6.23

 

 

6.74

 

 

7.25

Latin America

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil ($/BBL)

 

 

52.57

 

 

56.47

 

 

49.19

 

 

54.28

Natural Gas ($/MCF)

 

 

2.26

 

 

1.87

 

 

2.12

 

 

1.82

Middle East / North Africa

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil ($/BBL)

 

 

66.21

 

 

65.08

 

 

60.42

 

 

61.57

Natural Gas ($/MCF)

 

 

0.97

 

 

0.97

 

 

0.96

 

 

0.96

Total Worldwide

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil ($/BBL)

 

 

59.11

 

 

61.66

 

 

55.34

 

 

58.53

Natural Gas ($/MCF)

 

 

6.46

 

 

5.69

 

 

6.20

 

 

6.68

Excludes Horn Mountain and Pakistan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarter

 

Six Months

 

 

2007

 

2006

 

2007

 

2006

Exploration Expense

 

 

 

 

 

 

 

 

 

 

 

 

Domestic

 

$

9

 

$

16

 

$

27

 

$

48

Latin America

 

 

8

 

 

3

 

 

31

 

 

6

Middle East / North Africa

 

 

61

 

 

30

 

 

114

 

 

53

Other Eastern Hemisphere

 

 

15

 

 

1

 

 

23

 

 

14

TOTAL

 

$

93

 

$

50

 

$

195

 

$

121

12

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

Second Quarter

 

Six Months

Capital Expenditures ($MM)

 

2007

 

2006

 

2007

 

2006

Oil & Gas

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

California

 

$

153

 

 

$

123

 

 

$

285

 

$

$

226

 

Permian

 

 

153

 

 

 

138

 

 

 

317

 

 

 

265

 

Other - U.S.

 

 

57

 

 

 

64

 

 

 

100

 

 

 

127

 

Latin America

 

 

109

 

 

 

78

 

 

 

223

 

 

 

125

 

Middle East / North Africa

 

 

316

 

 

 

188

 

 

 

609

 

 

 

397

 

Other Eastern Hemisphere

 

 

6

 

 

 

(2

)

 

 

7

 

 

 

-

 

Chemicals

 

 

48

 

 

 

47

 

 

 

75

 

 

 

80

 

Corporate

 

 

8

 

 

 

6

 

 

 

14

 

 

 

10

 

TOTAL

 

$

850

 

 

$

642

 

 

$

1,630

 

 

$

1,230

 

Depreciation, Depletion &

 

Second Quarter

 

Six Months

Amortization of Assets ($MM)

 

2007

 

2006

 

2007

 

2006

Oil & Gas

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic

 

$

255

 

 

$

209

 

 

$

501

 

 

$

407

 

Latin America

 

 

88

 

 

 

70

 

 

 

178

 

 

 

119

 

Middle East / North Africa

 

 

132

 

 

 

129

 

 

 

285

 

 

 

258

 

Chemicals

 

 

77

 

 

 

70

 

 

 

150

 

 

 

136

 

Corporate

 

 

12

 

 

 

5

 

 

 

24

 

 

 

10

 

TOTAL

 

$

564

 

 

$

483

 

 

$

1,138

 

 

$

930

 

13

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

CORPORATE

($ millions)

 

 

30-Jun-07

 

31-Dec-06

CAPITALIZATION

 

 

 

 

 

 

 

 

 

 

Long-Term Debt (including current maturities)

 

 

$

1,880

 

 

 

$

2,790

 

Subsidiary Preferred Stock

 

 

 

75

 

 

 

 

75

 

Others

 

 

 

25

 

 

 

 

25

 

Total Debt

 

 

$

1,980

 

 

 

$

2,890

 

EQUITY

 

 

$

21,111

 

 

 

$

19,252

 

Total Debt To Total Capitalization

 

 

9%

 

 

 

13%

 

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Investor Relations Supplemental Schedules

See the investor relations supplemental schedules for the reconciliation of non-GAAP items. Statements in this presentation that contain words such as "will", "expect" or "estimate", or otherwise relate to the future, are forward-looking and involve risks and uncertainties that could materially affect expected results. Factors that could cause results to differ materially include, but are not limited to: exploration risks, such as drilling of unsuccessful wells; global commodity pricing fluctuations and supply/demand considerations for oil, gas and chemicals; higher-than-expected costs; political risk; and not successfully completing (or any material delay in) any expansion, capital expenditure, acquisition, or disposition. You should not place undue reliance on these forward-looking statements which speak only as of the date of this filing. Unless legally required, Occidental disclaims any obligation to update any forward-looking statements as a result of new information, future events or otherwise. U.S. investors are urged to consider carefully the disclosure in our Form 10-K, available through the following toll-free telephone number, 1-888-OXYPETE (1-888-699-7383) or on the Internet at http://www.oxy.com. You also can obtain a copy from the SEC by calling 1-800-SEC-0330.

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