Occidental Petroleum Corporatio (OXY) 8-K Occidental Petroleum Announces Third Quarter Net Income

EXHIBIT 99.3

Investor Relations Supplemental Schedules

Investor Relations Supplemental Schedules

Summary

($ Millions)

	3Q 2008	3Q 2007
Reported Net Income	$2,271	$1,324
EPS - Diluted	$2.78	$1.58
Core Results	$2,272	$1,210
EPS - Diluted	$2.78	$1.45
Total Worldwide Production (mboe/day)	588	570
Total Worldwide Crude Oil Realizations ($/BBL)	$104.15	$67.81
Domestic Natural Gas Realizations ($/MCF)	$9.35	$5.90
Wtd. Average Basic Shares O/S (mm)	815.3	833.1
Wtd. Average Diluted Shares O/S (mm)	817.7	837.0
	YTD 2008	YTD 2007
Reported Net Income	$6,414	$3,948
EPS - Diluted	$7.79	$4.69
Core Results	$6,391	$2,941
EPS - Diluted	$7.76	$3.50
Total Worldwide Production (mboe/day)	594	563
Total Worldwide Crude Oil Realizations ($/BBL)	$100.39	$59.47
Domestic Natural Gas Realizations ($/MCF)	$9.18	$6.45
Wtd. Average Basic Shares O/S (mm)	820.1	837.0
Wtd. Average Diluted Shares O/S (mm)	823.8	840.9
Shares Outstanding (mm)	809.9	828.6
Cash Flow from Operations	$8,100	$4,300

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2008 Third Quarter

Net Income (Loss)

($ millions)

	Reported Income			Significant Items Affecting Income			Core Results
Oil & Gas	$	3,618					$	3,618
Chemical		219						219
Midstream, marketing and other		66						66
Corporate
Interest expense, net		(3	)					(3	)
Other		(82	)					(82	)
Taxes		(1,546	)					(1,546	)
Income from continuing operations		2,272			—			2,272
Discontinued operations, net of tax		(1	)		1	Discontinued operations, net		—
Net Income	$	2,271		$	1		$	2,272
Basic Earnings Per Common Share
Income from continuing operations	$	2.79
Discontinued operations, net		—
Net Income	$	2.79					$	2.79
Diluted Earnings Per Common Share
Income from continuing operations	$	2.78
Discontinued operations, net		—
Net Income	$	2.78					$	2.78

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2007 Third Quarter

Net Income (Loss)

($ millions)

	Reported Income			Significant Items Affecting Income				Core Results
Oil & Gas	$	1,955		$	(12	)	Sale of oil & gas interests	$	1,914
					74		Exploration impairments
					(103	)	Sale of exploration properties
Chemical		212							212
Midstream, marketing and other		86							86
Corporate
Interest expense, net		(11	)						(11	)
Other		(64	)		(42	)	Sale of Lyondell shares		(106	)
Taxes		(862	)		(23	)	Tax effect of adjustments		(885	)
Income from continuing operations		1,316			(106	)			1,210
Discontinued operations, net of tax		8			(8	)	Discontinued operations, net		—
Net Income	$	1,324		$	(114	)		$	1,210
Basic Earnings Per Common Share
Income from continuing operations	$	1.58
Discontinued operations, net of tax		0.01
Net Income	$	1.59						$	1.45
Diluted Earnings Per Common Share
Income from continuing operations	$	1.57
Discontinued operations, net of tax		0.01
Net Income	$	1.58						$	1.45

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2008 First Nine Months

Net Income (Loss)

($ millions)

	Reported Income			Significant Items Affecting Income				Core Results
Oil & Gas	$	10,312						$	10,312
Chemical		542							542
Midstream, marketing and other		350							350
Corporate
Interest expense, net		(10	)						(10	)
Other		(292	)						(292	)
Taxes		(4,511	)						(4,511	)
Income from continuing operations		6,391			—				6,391
Discontinued operations, net of tax		23			(23	)	Discontinued operations, net		—
Net Income	$	6,414		$	(23	)		$	6,391
Basic Earnings Per Common Share
Income from continuing operations	$	7.79
Discontinued operations, net		0.03
Net Income	$	7.82						$	7.79
Diluted Earnings Per Common Share
Income from continuing operations	$	7.76
Discontinued operations, net		0.03
Net Income	$	7.79						$	7.76

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2007 First Nine Months

Net Income (Loss)

($ millions)

	Reported Income			Significant Items Affecting Income				Core Results
Oil & Gas	$	5,496		$	(412	)	Sale of Russian operations	$	4,908
					(112	)	Legal settlements
					(35	)	Sale of oil & gas interests
					74		Exploration impairments
					(103	)	Sale of exploration properties
Chemical		507							507
Midstream, marketing and other		229							229
Corporate
Interest expense, net		(186	)		167		Debt purchases		(19	)
Other		34			(326	)	Sale of Lyondell shares		(245	)
					47		Facility closure
Taxes		(2,450	)		11		Tax effect of adjustments		(2,439	)
Income from continuing operations		3,630			(689	)			2,941
Discontinued operations, net of tax		318			(318	)	Discontinued operations, net		—
Net Income	$	3,948		$	(1,007	)		$	2,941
Basic Earnings Per Common Share
Income from continuing operations	$	4.34
Discontinued operations, net of tax		0.38
Net Income	$	4.72						$	3.51
Diluted Earnings Per Common Share
Income from continuing operations	$	4.31
Discontinued operations, net of tax		0.38
Net Income	$	4.69						$	3.50

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Items Affecting Comparability of Core Results Between Periods

The item(s) below are included in core results and are shown in this table because they affect the comparability between periods.

Pre-tax
Income / (Expense)	Third Quarter		Nine Months
	2008	2007	2008	2007
Corporate
Environmental remediation	2	(10)	(28)	(24)

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Worldwide Effective Tax Rate

	QUARTERLY						YEAR TO-DATE
	2008		2008		2007		2008		2007
REPORTED INCOME	QTR 3		QTR 2		QTR 3		9 Months		9 Months
Oil & Gas (a)	3,618		3,806		1,955		10,312		5,496
Chemicals	219		144		212		542		507
Midstream, marketing and other	66		161		86		350		229
Corporate & other	(85	)	(140	)	(75	)	(302	)	(152	)
Pre-tax income	3,818		3,971		2,178		10,902		6,080
Income tax expense
Federal and state	716		801		363		2,123		1,085
Foreign (a)	830		870		499		2,388		1,365
Total	1,546		1,671		862		4,511		2,450
Income from continuing operations	2,272		2,300		1,316		6,391		3,630
Worldwide effective tax rate	40%		42%		40%		41%		40%
	2008		2008		2007		2008		2007
CORE RESULTS	QTR 3		QTR 2		QTR 3		9 Months		9 Months
Oil & Gas (a)	3,618		3,806		1,914		10,312		4,908
Chemicals	219		144		212		542		507
Midstream, marketing and other	66		161		86		350		229
Corporate & other	(85	)	(140	)	(117	)	(302	)	(264	)
Pre-tax income	3,818		3,971		2,095		10,902		5,380
Income tax expense
Federal and state	716		801		386		2,123		1,074
Foreign (a)	830		870		499		2,388		1,365
Total	1,546		1,671		885		4,511		2,439
Core results	2,272		2,300		1,210		6,391		2,941
Worldwide effective tax rate	40%		42%		42%		41%		45%

(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.

2008	2008	2007	2008	2007
QTR 3	QTR 2	QTR 3	9 Months	9 Months
730	582	331	1,801	919

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2008 Third Quarter Net Income (Loss)

Reported Income Comparison

	Third			Second
	Quarter			Quarter
	2008			2008			B / (W)
Oil & Gas	$	3,618		$	3,806		$	(188	)
Chemical		219			144			75
Midstream, marketing and other		66			161			(95	)
Corporate
Interest expense, net		(3	)		(7	)		4
Other		(82	)		(133	)		51
Taxes		(1,546	)		(1,671	)		125
Income from continuing operations		2,272			2,300			(28	)
Discontinued operations, net		(1	)		(3	)		2
Net Income	$	2,271		$	2,297		$	(26	)
Earnings Per Common Share
Basic	$	2.79		$	2.80		$	(0.01	)
Diluted	$	2.78		$	2.78		$	—
Worldwide Effective Tax Rate		40%			42%			2%

OCCIDENTAL PETROLEUM

2008 Third Quarter Net Income (Loss)

Core Results Comparison

	Third			Second
	Quarter			Quarter
	2008			2008			B / (W)
Oil & Gas	$	3,618		$	3,806		$	(188	)
Chemical		219			144			75
Midstream, marketing and other		66			161			(95	)
Corporate
Interest expense, net		(3	)		(7	)		4
Other		(82	)		(133	)		51
Taxes		(1,546	)		(1,671	)		125
Core Results	$	2,272		$	2,300		$	(28	)
Core Results Per Common Share
Basic	$	2.79		$	2.80		$	(0.01	)
Diluted	$	2.78		$	2.79		$	(0.01	)
Worldwide Effective Tax Rate		40%			42%			2%

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Oil & Gas

Variance Analysis 3Q08 vs. 2Q08

($ Millions)

*DD&A rate increase and higher operating expenses

OCCIDENTAL PETROLEUM

Chemical

Variance Analysis 3Q08 vs. 2Q08

($ Millions)

*Higher feedstock costs

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2008 Third Quarter Net Income (Loss)

Reported Income Comparison

	Third			Third
	Quarter			Quarter
	2008			2007			B / (W)
Oil & Gas	$	3,618		$	1,955		$	1,663
Chemical		219			212			7
Midstream, marketing and other		66			86			(20	)
Corporate
Interest expense, net		(3	)		(11	)		8
Other		(82	)		(64	)		(18	)
Taxes		(1,546	)		(862	)		(684	)
Income from continuing operations		2,272			1,316			956
Discontinued operations, net		(1	)		8			(9	)
Net Income	$	2,271		$	1,324		$	947
Earnings Per Common Share
Basic	$	2.79		$	1.59		$	1.20
Diluted	$	2.78		$	1.58		$	1.20
Worldwide Effective Tax Rate		40%			40%			0%

OCCIDENTAL PETROLEUM

2008 Third Quarter Net Income (Loss)

Core Results Comparison

	Third			Third
	Quarter			Quarter
	2008			2007			B / (W)
Oil & Gas	$	3,618		$	1,914		$	1,704
Chemical		219			212			7
Midstream, marketing and other		66			86			(20	)
Corporate
Interest expense, net		(3	)		(11	)		8
Other		(82	)		(106	)		24
Taxes		(1,546	)		(885	)		(661	)
Core Results	$	2,272		$	1,210		$	1,062
Core Results Per Common Share
Basic	$	2.79		$	1.45		$	1.34
Diluted	$	2.78		$	1.45		$	1.33
Worldwide Effective Tax Rate		40%			42%			2%

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Oil & Gas

Variance Analysis 3Q08 vs. 3Q07

($ Millions)

* DD&A rate increase and higher operating expenses

OCCIDENTAL PETROLEUM

Chemical

Variance Analysis 3Q08 vs. 3Q07

($ Millions)

* Higher energy and feedstock costs

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

	Third Quarter				Nine Months
	2008		2007		2008		2007
NET PRODUCTION PER DAY:
United States
Crude Oil and Liquids (MBL)
California	87		90		86		89
Permian	166		171		168		167
Midcontinent and Rockies	8		4		6		3
Total	261		265		260		259
Natural Gas (MMCF)
California	236		264		239		254
Permian	169		182		179		189
Midcontinent and Rockies	165		158		166		154
Total	570		604		584		597
Latin America
Crude Oil (MBL)
Argentina	38		31		32		33
Colombia	43		42		43		43
Total	81		73		75		76
Natural Gas (MMCF)
Argentina	24		22		19		24
Bolivia	21		18		21		17
Total	45		40		40		41
Middle East / North Africa
Crude Oil and Liquids (MBL)
Oman	23		18		21		20
Dolphin	18		3		20		1
Qatar	49		46		47		46
Yemen	20		22		22		26
Libya	7		20		17		22
Total	117		109		127		115
Natural Gas (MMCF)
Oman	25		34		24		31
Dolphin	165		69		176		23
Total	190		103		200		54
Barrels of Oil Equivalent (MBOE)
Subtotal consolidated subsidiaries	593		572		599		566
Other interests
Colombia - minority interest	(7	)	(4	)	(7	)	(5	)
Yemen - Occidental net interest	2		2		2		2
Total worldwide production - MBOE	588		570		594		563

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

	Third Quarter					Nine Months
	2008		2007			2008			2007
OIL & GAS:
PRICES
United States
Crude Oil ($/BBL)		109.50		68.83			104.82			59.71
Natural gas ($/MCF)		9.35		5.90			9.18			6.45
Latin America
Crude Oil ($/BBL)		77.76		60.77			78.23			53.00
Natural Gas ($/MCF)		4.40		2.68			4.22			2.31
Middle East / North Africa
Crude Oil ($/BBL)		114.11		71.30			106.81			63.93
Total Worldwide
Crude Oil ($/BBL)		104.15		67.81			100.39			59.47
Natural Gas ($/MCF)		7.11		5.05			6.95			5.78
	Third Quarter					Nine Months
	2008		2007			2008			2007
Exploration Expense
Domestic	$	10	$	73		$	42		$	100
Latin America		9		5			35			36
Middle East / North Africa		41		48			117			162
Other Eastern Hemisphere		1		—			(1	)		23
TOTAL REPORTED	$	61	$	126		$	193		$	321
Less - non-core impairments		—		(58	)		—			(58	)
TOTAL CORE	$	61	$	68		$	193		$	263

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

	Third Quarter				Nine Months
Capital Expenditures ($MM)	2008		2007		2008		2007
Oil & Gas
California	$	231	$	157	$	596	$	432
Permian		131		85		331		338
Midcontinent and Rockies		109		43		243		143
Latin America		236		136		626		359
Middle East / North Africa		280		315		808		924
Other Eastern Hemisphere		—		—		—		7
Chemicals		57		66		202		141
Midstream, marketing and other		183		78		342		160
Corporate		12		—		75		6
TOTAL	$	1,239	$	880	$	3,223	$	2,510
Depreciation, Depletion &	Third Quarter				Nine Months
Amortization of Assets ($MM)	2008		2007		2008		2007
Oil & Gas
Domestic	$	257	$	278	$	760	$	764
Latin America		125		84		313		262
Middle East / North Africa		202		142		579		427
Chemicals		75		76		239		226
Midstream, marketing and other		19		18		52		49
Corporate		5		4		14		12
TOTAL	$	683	$	602	$	1,957	$	1,740

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

CORPORATE

($ millions)

	30-Sep-08			31-Dec-07
CAPITALIZATION
Long-Term Debt (including current maturities)		$	1,771		$	1,776
Notes Payable			—			12
Others			25			25
Total Debt		$	1,796		$	1,813
EQUITY		$	26,937		$	22,823
Total Debt To Total Capitalization			6%			7%

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Investor Relations Supplemental Schedules

Cash Flow Available For Capital and Other Uses

(Millions, unless noted otherwise)

	9 Months			12 Months
	Sept. 30
	2008			2007			2006			2005			2004
Cash Flow From Continuing Operations	$	8,103		$	6,660		$	5,931		$	4,740		$	3,282
Dividends as paid		(677	)		(765	)		(646	)		(483	)		(424	)
Adjusted Cash Flow From Continuing Operations		7,426			5,895			5,285			4,257			2,858
Adjust dividends and interest to 2008 annualized rates		—			(18	)		(181	)		(298	)		(333	)
Additional Cash Flow Available for Capital and
Other Uses	$	7,426		$	5,877		$	5,104		$	3,959		$	2,525
Actual Capital Spending	$	3,223		$	3,497		$	2,987		$	2,295		$	1,703
WTI Oil Price ($ / BBL)	$	113		$	72		$	66		$	57		$	41
Production from continuing operations (MBOE/D)		594			570			545			466			451
Interest Expense (net of tax)	$	6		$	129		$	85		$	131		$	155

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