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Occidental Petrl. (OCP)

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Tuesday 25 February, 2003

Occidental Petrl.

Occidental Proposal

Occidental Shareholder Withdraws Climate Change Proposal

LOS ANGELES, Feb 25, 2003, (PRIMEZONE) -- Following meetings with
Occidental Petroleum Corporation (NYSE:OXY) management, Walden Asset
Management on behalf of its clients, including the Needmor Fund, Boston
Common Asset Management, LLC on behalf its client, Brethren Benefit
Trust, Inc., and the Sinsinawa Dominicans agreed to withdraw a climate
change proposal submitted for consideration at Occidental Petroleum's
2003 annual meeting. The proposal requested that Occidental Petroleum
prepare a report describing the operating, financial and reputation
risks to the company associated with past, present and future greenhouse
gas emissions related to its operations and products.

The proponents noted in their withdrawal letter that Occidental had
previously made important disclosures on this subject in its Health,
Environment and Safety Annual Reports (HES Report). Occidental agreed to
include an expanded discussion of greenhouse gas emissions in its
forthcoming 2002 HES Report based on its response to the Carbon
Disclosure Project's Greenhouse Gas Emissions Questionnaire submitted in
November 2002. Occidental's Health, Environment and Safety Annual
Reports are available on its web site at www.oxy.com.


SOURCE: Occidental Petroleum Corporation
-0- 2/25/2003
CONTACT: Occidental Petroleum Corporation
Lawrence P. Meriage (media)
310-443-6562

Kenneth J. Huffman (investors)
212-603-8183
www.oxy.com

KEYWORD: California
INDUSTRY: Oil, Gas
SUBJECT: Environment
                                                                                                                                                                                                              

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