Occidental Petroleum (OXY) 10-Q 30 Oct 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013
Document and Entity Information
Entity Registrant Name	OCCIDENTAL PETROLEUM CORP /DE/
Entity Central Index Key	797468
Document Type	10-Q
Document Period End Date	30-Sep-13
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	806,059,898
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3

CONSOLIDATED_CONDENSED_BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
CURRENT ASSETS
Cash and cash equivalents	$3,771	$1,592
Trade receivables, net	5,653	4,916
Inventories	1,328	1,344
Other current assets	1,186	1,640
Total current assets	11,938	9,492
INVESTMENTS IN UNCONSOLIDATED ENTITIES	1,713	1,894
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation, depletion and amortization of $31,844 at September 30, 2013 and $28,032 at December 31, 2012	55,027	52,064
LONG-TERM RECEIVABLES AND OTHER ASSETS, NET	759	760
TOTAL ASSETS	69,437	64,210
CURRENT LIABILITIES
Current maturities of long-term debt	600	600
Accounts payable	5,671	4,708
Accrued liabilities	2,488	1,966
Domestic and foreign income taxes	83	16
Total current liabilities	8,842	7,290
LONG-TERM DEBT, NET	6,961	7,023
DEFERRED CREDITS AND OTHER LIABILITIES
Deferred domestic and foreign income taxes	7,048	6,039
Other	3,618	3,810
Total deferred credits and other liabilities	10,666	9,849
STOCKHOLDERS' EQUITY
Common stock, at par value	178	178
Treasury stock	-5,148	-5,091
Additional paid-in capital	7,508	7,441
Retained earnings	40,700	37,990
Accumulated other comprehensive loss	-448	-502
Total equity attributable to common stock	42,790	40,016
Noncontrolling interest	178	32
Total stockholders' equity	42,968	40,048
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$69,437	$64,210

CONSOLIDATED_CONDENSED_BALANCE1

CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
CONSOLIDATED CONDENSED BALANCE SHEETS
PROPERTY, PLANT AND EQUIPMENT, accumulated depreciation, depletion and amortization	$31,844	$28,032

CONSOLIDATED_CONDENSED_STATEME

CONSOLIDATED CONDENSED STATEMENTS OF INCOME (USD $)	3 Months Ended		9 Months Ended
In Millions, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
REVENUES AND OTHER INCOME
Net sales	$6,449	$5,965	$18,283	$18,001
Interest, dividends and other income	26	26	89	65
Gain on sale of equity investment			131
TOTAL REVENUES AND OTHER INCOME	6,475	5,991	18,503	18,066
COSTS AND OTHER DEDUCTIONS
Cost of sales	3,214	3,176	9,531	9,186
Selling, general and administrative and other operating expenses	459	394	1,347	1,163
Taxes other than on income	186	172	568	513
Exploration expense	68	69	196	263
Interest and debt expense, net	29	36	93	94
TOTAL COSTS AND OTHER DEDUCTIONS	3,956	3,847	11,735	11,219
Income before income taxes and other items	2,519	2,144	6,768	6,847
Provision for domestic and foreign income taxes	-1,037	-855	-2,782	-2,869
Income from equity investments	106	90	288	293
Income from continuing operations	1,588	1,379	4,274	4,271
Discontinued operations, net	-5	-4	-14	-9
NET INCOME	$1,583	$1,375	$4,260	$4,262
BASIC EARNINGS PER COMMON SHARE
Income from continuing operations (in dollars per share)	$1.97	$1.70	$5.30	$5.26
Discontinued operations, net (in dollars per share)	($0.01)	($0.01)	($0.02)	($0.01)
BASIC EARNINGS PER COMMON SHARE (in dollars per share)	$1.96	$1.69	$5.28	$5.25
DILUTED EARNINGS PER COMMON SHARE
Income from continuing operations (in dollars per share)	$1.97	$1.70	$5.30	$5.26
Discontinued operations, net (in dollars per share)	($0.01)	($0.01)	($0.02)	($0.01)
DILUTED EARNINGS PER COMMON SHARE (in dollars per share)	$1.96	$1.69	$5.28	$5.25
DIVIDENDS PER COMMON SHARE (in dollars per share)	$0.64	$0.54	$1.92	$1.62

CONSOLIDATED_CONDENSED_STATEME1

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended				9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$1,583		$1,375		$4,260		$4,262
Other comprehensive income (loss) items:
Foreign currency translation gains (losses)					2		-8
Reclassification to income of realized foreign currency translation losses					28	[1]
Pension and postretirement gains	9	[2]	11	[2]	27	[2]	24	[2]
Unrealized (losses) gains on derivatives			-2	[3]	1	[3]	10	[3]
Reclassification to income of realized gains on derivatives	-1	[4]			-4	[4]	-24	[4]
Other comprehensive income, net of tax	8	[5]	9	[5]	54	[5]	2	[5]
Comprehensive income	$1,591		$1,384		$4,314		$4,264
[1]	Included in the net gain on sale of the investment in Carbocloro, a Brazilian chemical facility.
[2]	Net of tax of $(5) and $(6) for the three months ended September 30, 2013 and 2012, respectively, and $(16) and $(14) for the nine months ended September 30, 2013 and 2012.
[3]	Net of tax of zero and $1 for the three months ended September 30, 2013 and 2012, respectively, and $(1) and $(7) for the nine months ended September 30, 2013 and 2012.
[4]	Net of tax of zero for each of the three months ended September 30, 2013 and 2012, and $2 and $14 for the nine months ended September 30, 2013 and 2012, respectively.
[5]	There were no other comprehensive income (loss) items related to noncontrolling interests in 2013 and 2012.

CONSOLIDATED_CONDENSED_STATEME2

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Pension and postretirement gains, tax	($5)	($6)	($16)	($14)
Unrealized (losses) gains on derivatives, tax	0	1	-1	-7
Reclassification to income of realized gains on derivatives, tax	$0	$0	$2	$14

CONSOLIDATED_CONDENSED_STATEME3

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
CASH FLOW FROM OPERATING ACTIVITIES
Net income	$4,260	$4,262
Adjustments to reconcile net income to net cash provided by operating activities:
Discontinued operations, net	14	9
Depreciation, depletion and amortization of assets	3,896	3,320
Deferred income tax provision	1,016	1,255
Other noncash charges to income	258	139
Gain on sale of equity investment	-131
Undistributed earnings from equity investments	-40	-14
Dry hole expenses	115	221
Changes in operating assets and liabilities, net	445	-663
Operating cash flow from continuing operations	9,833	8,529
Operating cash flow from discontinued operations, net of taxes	-47	-30
Net cash provided by operating activities	9,786	8,499
CASH FLOW FROM INVESTING ACTIVITIES
Capital expenditures	-6,551	-7,716
Payments for purchases of assets and businesses	-342	-1,164
Sale of equity investment, net	270
Other, net	3	9
Net cash used by investing activities	-6,620	-8,871
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from long-term debt		1,736
Payments of long-term debt	-66
Proceeds from issuance of common stock	27	61
Purchases of treasury stock	-64	-204
Contributions from noncontrolling interest	145
Cash dividends paid	-1,034	-1,252
Other, net	5	10
Net cash (used) provided by financing activities	-987	351
Increase (decrease) in cash and cash equivalents	2,179	-21
Cash and cash equivalents-beginning of period	1,592	3,781
Cash and cash equivalents-end of period	$3,771	$3,760

General

General	9 Months Ended
	Sep. 30, 2013
General
General	1.             General
	In these unaudited consolidated condensed financial statements, “Occidental” means Occidental Petroleum Corporation, a Delaware corporation (OPC), or OPC and one or more entities in which it owns a controlling interest (subsidiaries).  Occidental has made its disclosures in accordance with United States generally accepted accounting principles as they apply to interim reporting, and condensed or omitted, as permitted by the Securities and Exchange Commission’s rules and regulations, certain information and disclosures normally included in consolidated financial statements and the notes.  These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and the notes thereto in Occidental’s Annual Report on Form 10-K for the year ended December 31, 2012.
	In the opinion of Occidental’s management, the accompanying consolidated condensed financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to fairly present Occidental’s consolidated financial position as of September 30, 2013, and the consolidated statements of income, comprehensive income and cash flows for the three and nine months ended September 30, 2013 and 2012, as applicable. The income and cash flows for the periods ended September 30, 2013 and 2012 are not necessarily indicative of the income or cash flows to be expected for the full year.
	Certain financial statements and notes for the prior year have been reclassified to conform to the 2013 presentation.

Asset_Acquisitions_Disposition

Asset Acquisitions, Dispositions and Other	9 Months Ended
	Sep. 30, 2013
Asset Acquisitions, Dispositions and Other
Asset Acquisitions, Dispositions and Other	2.             Asset Acquisitions, Dispositions and Other
	In October 2013, Occidental sold a portion of its equity interest in the general partner of Plains All-American Pipeline, L.P. for approximately $1.4 billion, resulting in a pre-tax gain of approximately $1.0 billion.
	In October 2013, the Board of Directors authorized the pursuit of the sale of a minority interest in the Middle East/North Africa operations and the pursuit of strategic alternatives for select assets, including oil and gas interests in the Williston Basin, Hugoton Field, Piceance Basin and other Rocky Mountain assets.
	In May 2013, Occidental sold its investment in Carbocloro, a Brazilian chemical facility.  Occidental received net proceeds of approximately $270 million and recorded a pre-tax gain of $131 million.
	Dr. Ray Irani submitted his resignation as a director, effective as of May 15, 2013, and ceased serving as an executive of Occidental.  In addition, certain other employees and several consulting arrangements were terminated during the second quarter.  As a result of these developments and actions, Occidental recorded a $55 million pre-tax charge in the second quarter for the estimated costs of Dr. Irani’s employment and post-employment benefits, and the termination of other employees and consulting arrangements.
	Occidental owns a 50% interest in BridgeTex Pipeline Company, LLC (BridgeTex), which is a variable interest entity that Occidental consolidates.  This investment is not material to Occidental’s financial statements.  At September 30, 2013 and December 31, 2012, the BridgeTex assets and liabilities mainly comprised property, plant and equipment and cash and cash equivalents.  At September 30, 2013 and December 31, 2012, BridgeTex held approximately $123 million and $50 million, respectively, of money market funds classified as cash equivalents, which approximated fair value using Level 1 inputs.

Accounting_and_Disclosure_Chan

Accounting and Disclosure Changes	9 Months Ended
	Sep. 30, 2013
Accounting and Disclosure Changes
Accounting and Disclosure Changes	3.             Accounting and Disclosure Changes
	Offsetting Assets and Liabilities -  Beginning in the quarter ended March 31, 2013, Occidental adopted new disclosure requirements relating to its derivatives in accordance with rules issued by the Financial Accounting Standards Board (FASB) in December 2011 and January 2013.  These new rules require tabular disclosures of the outstanding derivatives’ gross and net fair values, now including those derivatives that are subject to a master netting or  similar arrangement and qualify for net presentation, but are not offset in the consolidated balance sheet.
	Reclassifications from Accumulated Other Comprehensive Income - Beginning in the quarter ended March 31, 2013, Occidental adopted new disclosure requirements for reporting amounts reclassified out of each component of accumulated other comprehensive income into the income statement in accordance with rules issued by the FASB in February 2013.
	These new disclosures were not material to Occidental’s financial statements.

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2013
Supplemental Cash Flow Information
Supplemental Cash Flow Information	4.             Supplemental Cash Flow Information
	Occidental paid United States federal, state and foreign income taxes for continuing operations of approximately $1.3 billion and $1.8 billion during the nine months ended September 30, 2013 and 2012, respectively.  Interest paid totaled approximately $215 million and $167 million for the nine months ended September 30, 2013 and 2012, respectively.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2013
Inventories
Inventories	5.             Inventories
	A portion of inventories is valued under the LIFO method.  The valuation of LIFO inventory for interim periods is based on Occidental’s estimates of year-end inventory levels and costs.  Inventories as of September 30, 2013 and December 31, 2012 consisted of the following (in millions):
		2013			2012
	Raw materials	$	74		$	70
	Materials and supplies		647			612
	Finished goods		708			763
			1,429			1,445
	LIFO reserve		(101	)		(101	)
	Total	$	1,328		$	1,344

Environmental_Liabilities_and_

Environmental Liabilities and Expenditures	9 Months Ended
	Sep. 30, 2013
Environmental Liabilities and Expenditures
Environmental Liabilities and Expenditures	6.             Environmental Liabilities and Expenditures
	Occidental’s operations are subject to stringent federal, state, local and foreign laws and regulations related to improving or maintaining environmental quality.
	The laws that require or address environmental remediation, including the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) and similar federal, state, local and foreign laws, may apply retroactively and regardless of fault, the legality of the original activities or the current ownership or control of sites.  OPC or certain of its subsidiaries participate in or actively monitor a range of remedial activities and government or private proceedings under these laws with respect to alleged past practices at operating, closed and third-party sites.  Remedial activities may include one or more of the following:  investigation involving sampling, modeling, risk assessment or monitoring; cleanup measures including removal, treatment or disposal; or operation and maintenance of remedial systems.  The environmental proceedings seek funding or performance of remediation and, in some cases, compensation for alleged property damage, punitive damages, civil penalties, injunctive relief and government oversight costs.
	As of September 30, 2013, Occidental participated in or monitored remedial activities or proceedings at 160 sites.  The following table presents Occidental’s environmental remediation reserves as of September 30, 2013, the current portion of which is included in accrued liabilities ($80 million) and the remainder in deferred credits and other liabilities — other ($254 million).  The reserves are grouped as environmental remediation sites listed or proposed for listing by the United States Environmental Protection Agency on the CERCLA National Priorities List (NPL sites) and three categories of non-NPL sites — third-party sites, Occidental-operated sites and closed or non-operated Occidental sites.
		Number of Sites		Reserve Balance
				(in millions)
	NPL sites		32	$	51
	Third-party sites		75		91
	Occidental-operated sites		22		118
	Closed or non-operated Occidental sites		31		74
	Total		160	$	334
	As of September 30, 2013, Occidental’s environmental reserves exceeded $10 million each at 10 of the 160 sites described above, and 112 of the sites had reserves from zero to $1 million each.  Based on current estimates, Occidental expects to expend funds corresponding to approximately half of the current environmental reserves at the sites described above over the next three to four years and the balance at these sites over the subsequent 10 or more years.  Occidental believes its range of reasonably possible additional losses beyond those liabilities recorded for environmental remediation at these sites could be up to $375 million.  The status of Occidental’s involvement with the sites and related significant assumptions have not changed materially since December 31, 2012.  For management’s opinion with respect to environmental matters, refer to Note 7.

Lawsuits_Claims_Commitments_an

Lawsuits, Claims, Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Lawsuits, Claims, Commitments and Contingencies
Lawsuits, Claims, Commitments and Contingencies	7.             Lawsuits, Claims, Commitments and Contingencies
	OPC or certain of its subsidiaries are involved, in the normal course of business, in lawsuits, claims and other legal proceedings that seek, among other things, compensation for alleged personal injury, breach of contract, property damage or other losses, punitive damages, civil penalties or injunctive or declaratory relief.  OPC or certain of its subsidiaries also are involved in proceedings under CERCLA and similar federal, state, local and foreign environmental laws.  These environmental proceedings seek funding or performance of remediation and, in some cases, compensation for alleged property damage, punitive damages, civil penalties and injunctive relief. Usually OPC or such subsidiaries are among many companies in these environmental proceedings and have to date been successful in sharing response costs with other financially sound companies.  Further, some lawsuits, claims and legal proceedings involve acquired or disposed assets with respect to which a third party or Occidental retains liability or indemnifies the other party for conditions that existed prior to the transaction.
	Occidental accrues reserves for currently outstanding lawsuits, claims and proceedings when it is probable that a liability has been incurred and the liability can be reasonably estimated.  Occidental has disclosed its reserve balances for environmental matters.  Reserve balances for other matters as of September 30, 2013 and December 31, 2012 were not material to Occidental’s consolidated balance sheets.  Occidental also evaluates the amount of reasonably possible losses that it could incur as a result of the matters mentioned above.  Occidental has disclosed its range of reasonably possible additional losses for sites where it is a participant in environmental remediation.  Occidental believes that other reasonably possible losses that it could incur in excess of reserves accrued on the balance sheet would not be material to its consolidated financial position or results of operations.
	During the course of its operations, Occidental is subject to audit by tax authorities for varying periods in various federal, state, local and foreign tax jurisdictions.  Although taxable years through 2009 for United States federal income tax purposes have been audited by the United States Internal Revenue Service (IRS) pursuant to its Compliance Assurance Program, subsequent taxable years are currently under review.  Additionally, in December 2012, Occidental filed United States federal refund claims for tax years 2008 and 2009 which are subject to IRS review.  Taxable years from 2000 through the current year remain subject to examination by foreign and state government tax authorities in certain jurisdictions.  In certain of these jurisdictions, tax authorities are in various stages of auditing Occidental’s income taxes.  During the course of tax audits, disputes have arisen and other disputes may arise as to facts and matters of law.  Occidental believes that the resolution of outstanding tax matters would not have a material adverse effect on its consolidated financial position or results of operations.
	OPC, its subsidiaries or both have indemnified various parties against specified liabilities those parties might incur in the future in connection with purchases and other transactions that they have entered into with Occidental.  These indemnities usually are contingent upon the other party incurring liabilities that reach specified thresholds.  As of September 30, 2013, Occidental is not aware of circumstances that it believes would reasonably be expected to lead to indemnity claims that would result in payments materially in excess of reserves.

Retirement_and_Postretirement_

Retirement and Postretirement Benefit Plans	9 Months Ended
	Sep. 30, 2013
Retirement and Postretirement Benefit Plans
Retirement and Postretirement Benefit Plans	8.             Retirement and Postretirement Benefit Plans
	The following table sets forth the components of the net periodic benefit costs for Occidental’s defined benefit pension and postretirement benefit plans for the three and nine months ended September 30, 2013 and 2012 (in millions):
	Three months ended September 30	2013					2012
	Net Periodic Benefit Costs	Pension			Postretirement		Pension			Postretirement
		Benefit			Benefit		Benefit			Benefit
	Service cost	$	3		$	8	$	3		$	6
	Interest cost		6			11		6			10
	Expected return on plan assets		(7	)		—		(7	)		—
	Amortization of prior service cost		—			—		1			—
	Recognized actuarial loss		10			9		4			10
	Total	$	12		$	28	$	7		$	26
	Nine months ended September 30	2013					2012
	Net Periodic Benefit Costs	Pension			Postretirement		Pension			Postretirement
		Benefit			Benefit		Benefit			Benefit
	Service cost	$	10		$	22	$	9		$	19
	Interest cost		19			32		20			32
	Expected return on plan assets		(23	)		—		(23	)		—
	Amortization of prior service cost		—			—		1			—
	Recognized actuarial loss		18			29		14			27
	Total	$	24		$	83	$	21		$	78
	Occidental contributed approximately $1 million in each of the three-month periods ended September 30, 2013 and 2012, and approximately $3 million and $4 million in the nine-month periods ended September 30, 2013 and 2012, respectively, to its defined benefit pension plans.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements
Fair Value Measurements	9.             Fair Value Measurements
	Occidental has categorized its assets and liabilities that are measured at fair value in a three-level fair value hierarchy, based on the inputs to the valuation techniques: Level 1 — using quoted prices in active markets for identical assets or liabilities; Level 2 — using observable inputs, such as quoted prices for similar assets or liabilities; and Level 3 — using unobservable inputs.  Transfers between levels, if any, are reported at the end of each reporting period.
	Fair Values — Recurring
	Occidental primarily applies the market approach for recurring fair value measurements, maximizes its use of observable inputs and minimizes its use of unobservable inputs. Occidental utilizes the mid-point price between bid and ask prices for valuing the majority of its assets and liabilities measured and reported at fair value. In addition to using market data, Occidental makes assumptions in valuing its assets and liabilities, including assumptions about the risks inherent in the inputs to the valuation technique.  For assets and liabilities carried at fair value, Occidental measures fair value using the following methods:
	Ø              Commodity derivatives – Occidental values exchange-cleared commodity derivatives using closing prices provided by the exchange as of the balance sheet date.  These derivatives are classified as Level 1.  Over-the-Counter (OTC) bilateral financial commodity contracts, foreign exchange contracts, options and physical commodity forward purchase and sale contracts are generally valued using quotations provided by brokers or industry-standard models that consider various inputs, including quoted forward prices for commodities, time value, volatility factors, credit risk and current market and contractual prices for the underlying instruments, as well as other relevant economic measures.  These inputs are observable in the marketplace throughout the full term of the instrument and can be derived from observable data or are supported by observable prices at which transactions are executed in the marketplace.  Occidental generally classifies these measurements as Level 2.
	Ø              Embedded commodity derivatives – Occidental values embedded commodity derivatives based on a market approach that considers various assumptions, including quoted forward commodity prices and market yield curves.  The assumptions used include inputs that are observable and unobservable in the marketplace, and the fair value is designated as Level 3 within the valuation hierarchy.
	Occidental generally uses an income approach to measure fair value when there is not a market-observable price for an identical or similar asset or liability.  This approach utilizes management’s judgments regarding expectations of projected cash flows, and discounts those cash flows using a risk-adjusted discount rate.
	The following tables provide fair value measurement information for such assets and liabilities that are measured on a recurring basis as of September 30, 2013 and December 31, 2012 (in millions):
		Fair Value Measurements at
		September 30, 2013 Using
								Netting and			Total Fair
	Description	Level 1		Level 2		Level 3		Collateral		(a)	Value
	Assets:
	Commodity derivatives	$	551	$	314	$	—	$	(750	)	$	115
	Liabilities:
	Commodity derivatives	$	524	$	344	$	—	$	(784	)	$	84
		Fair Value Measurements at
		December 31, 2012 Using
								Netting and			Total Fair
	Description	Level 1		Level 2		Level 3		Collateral		(a)	Value
	Assets:
	Commodity derivatives	$	107	$	312	$	—	$	(301	)	$	118
	Liabilities:
	Commodity derivatives	$	99	$	398	$	—	$	(371	)	$	126
	(a)   Represents the impact of netting assets, liabilities and collateral when a legal right of offset exists.
	Fair Values — Nonrecurring
	During the three and nine months ended September 30, 2013 and 2012, Occidental did not have assets or liabilities measured at fair value on a non-recurring basis.
	Other Financial Instruments
	The carrying amounts of cash and cash equivalents and other on-balance-sheet financial instruments, other than fixed-rate debt, approximate fair value.  The cost, if any, to terminate off-balance-sheet financial instruments is not significant.  Occidental estimates the fair value of fixed-rate debt based on the quoted market prices for those instruments or on quoted market yields for similarly rated debt instruments, taking into account such instruments’ maturities.  The estimated fair values of Occidental’s debt as of September 30, 2013 and December 31, 2012 were approximately $7.7 billion and $8.2 billion, respectively, and its carrying value at each date was $7.6 billion. Occidental classifies its debt as Level 1.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2013
Derivatives
Derivatives
	10.      Derivatives
	Derivatives are carried at fair value and on a net basis when a legal right of offset exists with the same counterparty.  Occidental applies hedge accounting when transactions meet specified criteria for cash-flow hedge treatment and management elects and documents such treatment.  Otherwise, any fair value gains or losses are recognized in earnings in the current period.
	Occidental uses a variety of derivative instruments, including cash-flow hedges and derivative instruments not designated as hedging instruments, to establish, as of the date of production, the price it receives and to improve realized prices for oil and gas.  Occidental only occasionally hedges its oil and gas production and, when it does, the volumes are usually insignificant.  Additionally, Occidental’s Phibro trading unit engages in trading activities using derivatives for the purpose of generating profits mainly from market price changes of commodities.
	Cash-Flow Hedges
	Occidental entered into financial swap agreements in November 2012 for the sale of a portion of its natural gas production in California.  These swap agreements hedge 50 million cubic feet of natural gas per day beginning in January 2013 through March 2014 and qualify as cash-flow hedges.  The weighted-average strike price of these swaps is $4.30.
	Through March 31, 2012, Occidental held financial swap agreements related to the sale of 50 million cubic feet per day of its existing natural gas production from the Rocky Mountain region of the United States that qualified as cash-flow hedges at a weighted-average strike price of $6.07.
	Occidental’s marketing and trading operations store natural gas purchased from third parties at Occidental’s North American leased storage facilities.  Derivative instruments are used to fix margins on the future sales of the stored volumes through March 31, 2014.  As of September 30, 2013 and December 31, 2012, Occidental had approximately 16 billion cubic feet and 20 billion cubic feet of natural gas held in storage, respectively.  As of September 30, 2013 and December 31, 2012, Occidental had cash-flow hedges for the forecast sale, to be settled by physical delivery, of approximately 18 billion cubic feet and 20 billion cubic feet of natural gas, respectively.
	The following table presents the after-tax gains and losses recognized in, and reclassified to income from, Accumulated Other Comprehensive Income (AOCI) for derivative instruments classified as cash-flow hedges for the three and nine months ended September 30, 2013 and 2012 (in millions):
		Periods ended September 30
		Three Months						Nine Months
		2013			2012			2013			2012
	Beginning Balance — AOCI	$	(9	)	$	(11	)	$	(7	)	$	1
	Unrealized (losses) gains recognized in AOCI	—			(2		)	1			10
	Gains reclassified to income	(1		)	—			(4		)	(24		)
	Ending Balance — AOCI	$	(10	)	$	(13	)	$	(10	)	$	(13	)
	Occidental expects to reclassify an insignificant amount, based on the valuation as of September 30, 2013, of net after-tax derivative losses from AOCI into income during the next 12 months.  The gains and losses reclassified to income were recognized in net sales, and the amount of the ineffective portion of cash-flow hedges was immaterial for the three and nine months ended September 30, 2013 and 2012.
	Derivatives Not Designated as Hedging Instruments
	The following table summarizes Occidental’s net volumes of outstanding commodity derivatives contracts not designated as hedging instruments, including both financial and physical derivative contracts as of September 30, 2013 and December 31, 2012.
		Net Outstanding Position
		Long / (Short)
	Commodity	2013		2012
	Oil (million barrels)	(15	)	(4	)
	Natural gas (billion cubic feet)	(47	)	(170	)
	Precious metals (million troy ounces)	1		1
	The volumes in the table above exclude contracts tied to index prices, for which the fair value, if any, is minimal at any point in time.  These contracts do not expose Occidental to price risk because the contract prices fluctuate with index prices.
	In addition, Occidental typically has certain other commodity trading contracts, such as agricultural products, power and other metals, as well as foreign exchange contracts.  These contracts were not material to Occidental as of September 30, 2013 and December 31, 2012.
	Occidental fulfills its short positions through its own production or by third-party purchase contracts.  Subsequent to September 30, 2013, Occidental entered into purchase contracts for a substantial portion of the outstanding positions at quarter-end and has production capacity and the ability to enter into additional purchase contracts sufficient to satisfy the remaining positions.
	Approximately $56 million and $78 million of net gains from derivatives not designated as hedging instruments were recognized in net sales for the three months ended September 30, 2013 and 2012, respectively.    Approximately $41 million and $42 million of net gains from derivatives not designated as hedging instruments were recognized in net sales for the nine months ended September 30, 2013 and 2012, respectively.
	Fair Value of Derivatives
	The following table presents the gross and net fair values of Occidental’s outstanding derivatives as of September 30, 2013 and December 31, 2012 (in millions):
		Asset Derivatives					Liability Derivatives
	September 30, 2013	Balance Sheet Location		Fair Value			Balance Sheet Location		Fair Value
	Cash-flow hedges (a)
	Commodity contracts	Other current assets		$	4		Accrued liabilities		$	1
		Long-term receivables and other assets, net		—			Deferred credits and other liabilities		—
				4					1
	Derivatives not designated as hedging instruments (a)
	Commodity contracts	Other current assets		841			Accrued liabilities		850
		Long-term receivables and other assets, net		20			Deferred credits and other liabilities		17
				861					867
	Total gross fair value			865					868
	Less: counterparty netting and cash collateral (b) (d)			(750		)			(784		)
	Total net fair value of derivatives			$	115				$	84
		Asset Derivatives					Liability Derivatives
	December 31, 2012	Balance Sheet Location		Fair Value			Balance Sheet Location		Fair Value
	Cash-flow hedges (a)
	Commodity contracts	Other current assets		$	11		Accrued liabilities		$	1
		Long-term receivables and other assets, net		—			Deferred credits and other liabilities		1
				11					2
	Derivatives not designated as hedging instruments (a)
	Commodity contracts	Other current assets		386			Accrued liabilities		479
		Long-term receivables and other assets, net		22			Deferred credits and other liabilities		16
				408					495
	Total gross fair value			419					497
	Less: counterparty netting and cash collateral (c) (d)			(301		)			(371		)
	Total net fair value of derivatives			$	118				$	126
	(a)   Fair values are presented at gross amounts, including when the derivatives are subject to master netting arrangements and qualify for net presentation in the consolidated balance sheet.
	(b)   As of September 30, 2013, collateral received of $13 million has been netted against derivative assets and collateral paid of $47 million has been netted against derivative liabilities.
	(c)   As of December 31, 2012, collateral received of $25 million has been netted against derivative assets and collateral paid of $95 million has been netted against derivative liabilities.
	(d)   Select clearinghouses and brokers require Occidental to post an initial margin deposit.  Collateral, mainly for initial margin, of $85 million and $116 million deposited by Occidental has not been reflected in these derivative fair value tables, but is included in the other current assets balance as of September 30, 2013 and December 31, 2012, respectively.
	See Note 9 for fair value measurement disclosures on derivatives.
	Credit Risk
	A substantial portion of Occidental’s derivative transaction volume is executed through exchange-traded contracts, which are subject to minimal credit risk as a significant portion of these transactions is settled on a daily margin basis with select clearinghouses and brokers.  Occidental executes the rest of its derivative transactions in the  OTC market.  Occidental is subject to counterparty credit risk to the extent the counterparty to the derivatives is unable to meet its settlement commitments.  Occidental manages this credit risk by selecting counterparties that it believes to be financially strong, by spreading the credit risk among many such counterparties, by entering into master netting arrangements with counterparties and by requiring collateral, as appropriate.  Occidental actively monitors the creditworthiness of each counterparty and records valuation adjustments to reflect counterparty risk, if necessary.
Certain of Occidental’s OTC derivative instruments contain credit-risk-contingent features, primarily tied to credit ratings for Occidental or its counterparties, which may affect the amount of collateral that each would need to post.  As of September 30, 2013 and December 31, 2012, Occidental had a liability of $19 million and $34 million, respectively, net of collateral posted of $28 million and $64 million, respectively.  Occidental believes that if it had received a one-notch reduction in its credit ratings, it would not have resulted in a material change in its collateral-posting requirements as of September 30, 2013 and December 31, 2012.

Industry_Segments

Industry Segments	9 Months Ended
	Sep. 30, 2013
Industry Segments
Industry Segments
	11.      Industry Segments
	Occidental conducts its operations through three segments: (1) oil and gas; (2) chemical; and (3) midstream, marketing and other (midstream and marketing).  The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGL) and natural gas.  The chemical segment mainly manufactures and markets basic chemicals and vinyls.  The midstream and marketing segment gathers, processes, transports, stores, purchases and markets oil, condensate, NGLs, natural gas, carbon dioxide (CO2) and power.  It also trades around its assets, including transportation and storage capacity, and trades oil, NGLs, gas and other commodities.  The segment also invests in entities that conduct similar activities.
	Earnings of industry segments generally exclude income taxes, interest income, interest expense, environmental remediation expenses, unallocated corporate expenses and discontinued operations, but include gains and losses from dispositions of segment assets and income from the segment equity investments.  Intersegment sales eliminate upon consolidation and are generally made at prices approximating those that the selling entity would be able to obtain in third-party transactions.
	The following tables present Occidental’s industry segment and corporate disclosures (in millions):
		Oil and Gas		Chemical			Midstream		Corporate			Total
							and		and
							Marketing		Eliminations
	Three months ended
	September 30, 2013
	Net sales	$	5,018	$	1,200		$	442	$	(211	)	$	6,449
	Pretax operating profit (loss)	$	2,363	$	181		$	212	$	(131	)(a)	$	2,625
	Income taxes	—		—			—		(1,037		)(b)	(1,037		)
	Discontinued operations, net	—		—			—		(5		)	(5		)
	Net income (loss)	$	2,363	$	181		$	212	$	(1,173	)	$	1,583
	Three months ended
	September 30, 2012
	Net sales	$	4,635	$	1,119		$	389	$	(178	)	$	5,965
	Pretax operating profit (loss)	$	2,026	$	162		$	156	$	(110	)(a)	$	2,234
	Income taxes	—		—			—		(855		)(b)	(855		)
	Discontinued operations, net	—		—			—		(4		)	(4		)
	Net income (loss)	$	2,026	$	162		$	156	$	(969	)	$	1,375
		Oil and Gas		Chemical			Midstream		Corporate			Total
							and		and
							Marketing		Eliminations
	Nine months ended
	September 30, 2013
	Net sales	$	14,179	$	3,562		$	1,164	$	(622	)	$	18,283
	Pretax operating profit (loss)	$	6,383	$	615	(c)	$	475	$	(417	)(a)	$	7,056
	Income taxes	—		—			—		(2,782		)(b)	(2,782		)
	Discontinued operations, net	—		—			—		(14		)	(14		)
	Net income (loss)	$	6,383	$	615		$	475	$	(3,213	)	$	4,260
	Nine months ended
	September 30, 2012
	Net sales	$	14,032	$	3,439		$	1,044	$	(514	)	$	18,001
	Pretax operating profit (loss)	$	6,573	$	540		$	364	$	(337	)(a)	$	7,140
	Income taxes	—		—			—		(2,869		)(b)	(2,869		)
	Discontinued operations, net	—		—			—		(9		)	(9		)
	Net income (loss)	$	6,573	$	540		$	364	$	(3,215	)	$	4,262
	(a)   Includes unallocated net interest expense, administration expense, environmental remediation and other pre-tax items. The nine-month period ended September 30, 2013 includes a $55 million pre-tax charge for the estimated cost related to employment and post-employment benefits for Occidental’s former Executive Chairman and termination of certain other employees and consulting arrangements.
	(b)   Includes all foreign and domestic income taxes from continuing operations.
	(c)   The nine-month period ended September 30, 2013 includes a $131 million pre-tax gain for the sale of an investment in Carbocloro, a Brazilian chemical facility.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share
Earnings Per Share	12.      Earnings Per Share
	Occidental’s instruments containing rights to nonforfeitable dividends granted in stock-based payment transactions are considered participating securities prior to vesting and, therefore, have been included in the earnings allocations in computing basic and diluted EPS under the two-class method.
	Basic EPS was computed by dividing net income, net of income allocated to participating securities, by the weighted-average number of common shares outstanding during each period, net of treasury shares and including vested but unissued shares and share units.  The computation of diluted EPS reflects the additional dilutive effect of stock options and unvested stock awards.
	The following table presents the calculation of basic and diluted EPS for the three and nine months ended September 30, 2013 and 2012:
		Periods ended September 30
		Three months						Nine months
	(in millions, except per-share amounts)	2013			2012			2013			2012
	Basic EPS
	Income from continuing operations	$	1,588		$	1,379		$	4,274		$	4,271
	Discontinued operations, net	(5		)	(4		)	(14		)	(9		)
	Net income	1,583			1,375			4,260			4,262
	Less: Net income allocated to participating securities	(4		)	(3		)	(9		)	(8		)
	Net income, net of participating securities	$	1,579		$	1,372		$	4,251		$	4,254
	Weighted average number of basic shares	805.1			809.7			804.8			810.1
	Basic EPS	$	1.96		$	1.69		$	5.28		$	5.25
	Diluted EPS
	Net income, net of participating securities	$	1,579		$	1,372		$	4,251		$	4,254
	Weighted average number of basic shares	805.1			809.7			804.8			810.1
	Dilutive effect of potentially dilutive securities	0.6			0.7			0.6			0.7
	Total diluted weighted average common shares	805.7			810.4			805.4			810.8
	Diluted EPS	$	1.96		$	1.69		$	5.28		$	5.25

Inventories_Tables

Inventories (Tables)	9 Months Ended
	Sep. 30, 2013
Inventories
Inventories (in millions)
		2013			2012
	Raw materials	$	74		$	70
	Materials and supplies		647			612
	Finished goods		708			763
			1,429			1,445
	LIFO reserve		(101	)		(101	)
	Total	$	1,328		$	1,344

Environmental_Liabilities_and_1

Environmental Liabilities and Expenditures (Tables)	9 Months Ended
	Sep. 30, 2013
Environmental Liabilities and Expenditures
Environmental loss contingencies by categories of sites
		Number of Sites		Reserve Balance
				(in millions)
	NPL sites		32	$	51
	Third-party sites		75		91
	Occidental-operated sites		22		118
	Closed or non-operated Occidental sites		31		74
	Total		160	$	334

Retirement_and_Postretirement_1

Retirement and Postretirement Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2013
Retirement and Postretirement Benefit Plans
Components of the net periodic benefit cost (in millions)
	Three months ended September 30	2013					2012
	Net Periodic Benefit Costs	Pension			Postretirement		Pension			Postretirement
		Benefit			Benefit		Benefit			Benefit
	Service cost	$	3		$	8	$	3		$	6
	Interest cost		6			11		6			10
	Expected return on plan assets		(7	)		—		(7	)		—
	Amortization of prior service cost		—			—		1			—
	Recognized actuarial loss		10			9		4			10
	Total	$	12		$	28	$	7		$	26
	Nine months ended September 30	2013					2012
	Net Periodic Benefit Costs	Pension			Postretirement		Pension			Postretirement
		Benefit			Benefit		Benefit			Benefit
	Service cost	$	10		$	22	$	9		$	19
	Interest cost		19			32		20			32
	Expected return on plan assets		(23	)		—		(23	)		—
	Amortization of prior service cost		—			—		1			—
	Recognized actuarial loss		18			29		14			27
	Total	$	24		$	83	$	21		$	78

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Measurements
Assets and liabilities measured at fair value on a recurring basis (in millions)
		Fair Value Measurements at
		September 30, 2013 Using
								Netting and			Total Fair
	Description	Level 1		Level 2		Level 3		Collateral		(a)	Value
	Assets:
	Commodity derivatives	$	551	$	314	$	—	$	(750	)	$	115
	Liabilities:
	Commodity derivatives	$	524	$	344	$	—	$	(784	)	$	84
		Fair Value Measurements at
		December 31, 2012 Using
								Netting and			Total Fair
	Description	Level 1		Level 2		Level 3		Collateral		(a)	Value
	Assets:
	Commodity derivatives	$	107	$	312	$	—	$	(301	)	$	118
	Liabilities:
	Commodity derivatives	$	99	$	398	$	—	$	(371	)	$	126
	(a)   Represents the impact of netting assets, liabilities and collateral when a legal right of offset exists.

Derivatives_Tables

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2013
Derivatives
Cash-flow hedges - after-tax gains and losses recognized in, and reclassified to income from, Accumulated Other Comprehensive Income (in millions)
		Periods ended September 30
		Three Months						Nine Months
		2013			2012			2013			2012
	Beginning Balance — AOCI	$	(9	)	$	(11	)	$	(7	)	$	1
	Unrealized (losses) gains recognized in AOCI	—			(2		)	1			10
	Gains reclassified to income	(1		)	—			(4		)	(24		)
	Ending Balance — AOCI	$	(10	)	$	(13	)	$	(10	)	$	(13	)
Gross and net fair values of outstanding derivatives (in millions)
		Asset Derivatives					Liability Derivatives
	September 30, 2013	Balance Sheet Location		Fair Value			Balance Sheet Location		Fair Value
	Cash-flow hedges (a)
	Commodity contracts	Other current assets		$	4		Accrued liabilities		$	1
		Long-term receivables and other assets, net		—			Deferred credits and other liabilities		—
				4					1
	Derivatives not designated as hedging instruments (a)
	Commodity contracts	Other current assets		841			Accrued liabilities		850
		Long-term receivables and other assets, net		20			Deferred credits and other liabilities		17
				861					867
	Total gross fair value			865					868
	Less: counterparty netting and cash collateral (b) (d)			(750		)			(784		)
	Total net fair value of derivatives			$	115				$	84
		Asset Derivatives					Liability Derivatives
	December 31, 2012	Balance Sheet Location		Fair Value			Balance Sheet Location		Fair Value
	Cash-flow hedges (a)
	Commodity contracts	Other current assets		$	11		Accrued liabilities		$	1
		Long-term receivables and other assets, net		—			Deferred credits and other liabilities		1
				11					2
	Derivatives not designated as hedging instruments (a)
	Commodity contracts	Other current assets		386			Accrued liabilities		479
		Long-term receivables and other assets, net		22			Deferred credits and other liabilities		16
				408					495
	Total gross fair value			419					497
	Less: counterparty netting and cash collateral (c) (d)			(301		)			(371		)
	Total net fair value of derivatives			$	118				$	126
	(a)   Fair values are presented at gross amounts, including when the derivatives are subject to master netting arrangements and qualify for net presentation in the consolidated balance sheet.
	(b)   As of September 30, 2013, collateral received of $13 million has been netted against derivative assets and collateral paid of $47 million has been netted against derivative liabilities.
	(c)   As of December 31, 2012, collateral received of $25 million has been netted against derivative assets and collateral paid of $95 million has been netted against derivative liabilities.
	(d)   Select clearinghouses and brokers require Occidental to post an initial margin deposit.  Collateral, mainly for initial margin, of $85 million and $116 million deposited by Occidental has not been reflected in these derivative fair value tables, but is included in the other current assets balance as of September 30, 2013 and December 31, 2012, respectively.
Derivatives Not Designated as Hedging Instruments | Commodity Contracts
Derivatives
Schedule of outstanding derivative instruments
		Net Outstanding Position
		Long / (Short)
	Commodity	2013		2012
	Oil (million barrels)	(15	)	(4	)
	Natural gas (billion cubic feet)	(47	)	(170	)
	Precious metals (million troy ounces)	1		1

Industry_Segments_Tables

Industry Segments (Tables)	9 Months Ended
	Sep. 30, 2013
Industry Segments
Industry segment and corporate disclosures (in millions)
		Oil and Gas		Chemical			Midstream		Corporate			Total
							and		and
							Marketing		Eliminations
	Three months ended
	September 30, 2013
	Net sales	$	5,018	$	1,200		$	442	$	(211	)	$	6,449
	Pretax operating profit (loss)	$	2,363	$	181		$	212	$	(131	)(a)	$	2,625
	Income taxes	—		—			—		(1,037		)(b)	(1,037		)
	Discontinued operations, net	—		—			—		(5		)	(5		)
	Net income (loss)	$	2,363	$	181		$	212	$	(1,173	)	$	1,583
	Three months ended
	September 30, 2012
	Net sales	$	4,635	$	1,119		$	389	$	(178	)	$	5,965
	Pretax operating profit (loss)	$	2,026	$	162		$	156	$	(110	)(a)	$	2,234
	Income taxes	—		—			—		(855		)(b)	(855		)
	Discontinued operations, net	—		—			—		(4		)	(4		)
	Net income (loss)	$	2,026	$	162		$	156	$	(969	)	$	1,375
		Oil and Gas		Chemical			Midstream		Corporate			Total
							and		and
							Marketing		Eliminations
	Nine months ended
	September 30, 2013
	Net sales	$	14,179	$	3,562		$	1,164	$	(622	)	$	18,283
	Pretax operating profit (loss)	$	6,383	$	615	(c)	$	475	$	(417	)(a)	$	7,056
	Income taxes	—		—			—		(2,782		)(b)	(2,782		)
	Discontinued operations, net	—		—			—		(14		)	(14		)
	Net income (loss)	$	6,383	$	615		$	475	$	(3,213	)	$	4,260
	Nine months ended
	September 30, 2012
	Net sales	$	14,032	$	3,439		$	1,044	$	(514	)	$	18,001
	Pretax operating profit (loss)	$	6,573	$	540		$	364	$	(337	)(a)	$	7,140
	Income taxes	—		—			—		(2,869		)(b)	(2,869		)
	Discontinued operations, net	—		—			—		(9		)	(9		)
	Net income (loss)	$	6,573	$	540		$	364	$	(3,215	)	$	4,262
	(a)   Includes unallocated net interest expense, administration expense, environmental remediation and other pre-tax items. The nine-month period ended September 30, 2013 includes a $55 million pre-tax charge for the estimated cost related to employment and post-employment benefits for Occidental’s former Executive Chairman and termination of certain other employees and consulting arrangements.
	(b)   Includes all foreign and domestic income taxes from continuing operations.
	(c)   The nine-month period ended September 30, 2013 includes a $131 million pre-tax gain for the sale of an investment in Carbocloro, a Brazilian chemical facility.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share
Calculation of basic and diluted EPS
		Periods ended September 30
		Three months						Nine months
	(in millions, except per-share amounts)	2013			2012			2013			2012
	Basic EPS
	Income from continuing operations	$	1,588		$	1,379		$	4,274		$	4,271
	Discontinued operations, net	(5		)	(4		)	(14		)	(9		)
	Net income	1,583			1,375			4,260			4,262
	Less: Net income allocated to participating securities	(4		)	(3		)	(9		)	(8		)
	Net income, net of participating securities	$	1,579		$	1,372		$	4,251		$	4,254
	Weighted average number of basic shares	805.1			809.7			804.8			810.1
	Basic EPS	$	1.96		$	1.69		$	5.28		$	5.25
	Diluted EPS
	Net income, net of participating securities	$	1,579		$	1,372		$	4,251		$	4,254
	Weighted average number of basic shares	805.1			809.7			804.8			810.1
	Dilutive effect of potentially dilutive securities	0.6			0.7			0.6			0.7
	Total diluted weighted average common shares	805.7			810.4			805.4			810.8
	Diluted EPS	$	1.96		$	1.69		$	5.28		$	5.25

Asset_Acquisitions_Disposition1

Asset Acquisitions, Dispositions and Other (Details) (USD $)	3 Months Ended	9 Months Ended	1 Months Ended		9 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2013	Sep. 30, 2013	31-May-13	Oct. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
			Brazilian chemical facility	General Partner of Plains All American Pipeline,L.P	BridgeTex	BridgeTex
Acquisitions, dispositions and other transactions
Sale of equity investment, net		$270	$270	$1,400
Gain on sale of equity investment		131	131	1,000
Charge for former executives and consultants	55
Percentage of ownership interest					50.00%	50.00%
Money market funds					$123	$50

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Supplemental Cash Flow Information
United States federal, state and foreign income taxes paid for continuing operations	$1,300,000,000	$1,800,000,000
Interest Paid	$215,000,000	$167,000,000

Inventories_Details

Inventories (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
Inventories
Raw materials	$74	$70
Materials and supplies	647	612
Finished goods	708	763
Inventories, Gross	1,429	1,445
LIFO reserve	-101	-101
Total	$1,328	$1,344

Environmental_Liabilities_and_2

Environmental Liabilities and Expenditures (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
	site
Environmental Liabilities and Expenditures
Environmental remediation reserves, current, included in accrued liabilities	$80
Environmental remediation reserves, noncurrent, included in deferred credits and other liabilities - other	254
Environmental remediation reserves
Number of Sites	160
Reserve Balance	334
Environmental reserves, exceeding $ ten million, threshold value	10
Environmental reserves, exceeding $ ten million, number of sites	10
Environmental reserves, range between zero to $ one million site category, number of sites	112
Minimum period of expending second half of environmental reserves	10 years
Environmental remediation additional loss range	375
Low end of range
Environmental remediation reserves
Environmental reserves, range between zero to $ one million site category	0
Period of expending first half of environmental reserves	3 years
High end of range
Environmental remediation reserves
Environmental reserves, range between zero to $ one million site category	1
Period of expending first half of environmental reserves	4 years
NPL sites
Environmental remediation reserves
Number of Sites	32
Reserve Balance	51
Third-party sites
Environmental remediation reserves
Number of Sites	75
Reserve Balance	91
Occidental-operated sites
Environmental remediation reserves
Number of Sites	22
Reserve Balance	118
Closed or non-operated Occidental sites
Environmental remediation reserves
Number of Sites	31
Reserve Balance	$74

Retirement_and_Postretirement_2

Retirement and Postretirement Benefit Plans (Details) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Pension Benefit
Net periodic benefit costs:
Service cost	$3	$3	$10	$9
Interest cost	6	6	19	20
Expected return on plan assets	-7	-7	-23	-23
Amortization of prior service cost		1		1
Recognized actuarial loss	10	4	18	14
Net periodic benefit cost	12	7	24	21
Employer contributions	1	1	3	4
Postretirement Benefit
Net periodic benefit costs:
Service cost	8	6	22	19
Interest cost	11	10	32	32
Recognized actuarial loss	9	10	29	27
Net periodic benefit cost	$28	$26	$83	$78

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Level 1
Fair Value - Other Financial Instruments
Debt estimated fair value	$7,700,000,000	$8,200,000,000
Debt carrying value	7,600,000,000	7,600,000,000
Recurring | Level 1
Assets:
Commodity derivatives	551,000,000	107,000,000
Liabilities:
Commodity derivatives	524,000,000	99,000,000
Recurring | Level 2
Assets:
Commodity derivatives	314,000,000	312,000,000
Liabilities:
Commodity derivatives	344,000,000	398,000,000
Recurring | Netting and Collateral
Assets:
Commodity derivatives	-750,000,000	-301,000,000
Liabilities:
Commodity derivatives	-784,000,000	-371,000,000
Recurring | Total Fair Value
Assets:
Commodity derivatives	115,000,000	118,000,000
Liabilities:
Commodity derivatives	$84,000,000	$126,000,000

Derivatives_Details

Derivatives (Details)	Sep. 30, 2013	Dec. 31, 2012	Nov. 30, 2012	Mar. 31, 2012
	ft3	ft3	Natural Gas - Swaps through March 2014 (in cubic feet)	Natural Gas - Swaps through March 2012 (in cubic feet)
Cash-Flow Hedges
Daily volume			50,000,000	50,000,000
Weighted-average strike price in dollars per cubic foot)			0.0043	0.00607
Natural gas held in storage (in cubic feet)	16,000,000,000	20,000,000,000
Forecast sale of natural gas from storage designated as cash-flow hedges (in cubic feet)	18,000,000,000	20,000,000,000

Derivatives_Details_2

Derivatives (Details 2) (USD $)	3 Months Ended				9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Net After-tax Derivative Activity recorded in AOCI
Beginning Balance - AOCI	($9)		($11)		($7)		$1
Unrealized (losses) gains recognized in AOCI			-2	[1]	1	[1]	10	[1]
Gains reclassified to income	-1	[2]			-4	[2]	-24	[2]
Ending Balance - AOCI	($10)		($13)		($10)		($13)
[1]	Net of tax of zero and $1 for the three months ended September 30, 2013 and 2012, respectively, and $(1) and $(7) for the nine months ended September 30, 2013 and 2012.
[2]	Net of tax of zero for each of the three months ended September 30, 2013 and 2012, and $2 and $14 for the nine months ended September 30, 2013 and 2012, respectively.

Derivatives_Details_3

Derivatives (Details 3) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012
					Oil (in barrels)	Oil (in barrels)	Natural Gas (in cubic feet)	Natural Gas (in cubic feet)	Precious metals (in troy ounces)	Precious metals (in troy ounces)
					bbl	bbl	ft3	ft3	ozt	ozt
Outstanding commodity derivatives contracts not designated as hedging instruments
Net Outstanding Position Long/(Short)					-15,000,000	-4,000,000	-47,000,000,000	-170,000,000,000	1,000,000	1,000,000
Net gains from derivatives not designated as hedging instruments recognized in net sales (in dollars)	$56	$78	$41	$42

Derivatives_Details_4

Derivatives (Details 4) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Millions, unless otherwise specified
Gross and net fair values of outstanding derivatives (in millions)
Less: counterparty netting and cash collateral, asset	($750)	($301)
Less: counterparty netting and cash collateral, liability	-784	-371
Total net fair value, asset	115	118
Total net fair value, liability	84	126
Collateral received netted against derivative assets	13	25
Collateral paid netted against derivative liabilities	47	95
Collateral deposited with clearinghouses and brokers	85	116
Credit risk contingent features
Net derivative liabilities with credit-risk-contingent features	19	34
Amount of collateral posted	28	64
Commodity Contracts
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	865	419
Commodity contract derivative liability, gross	868	497
Cash-flow hedges | Commodity Contracts
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	4	11
Commodity contract derivative liability, gross	1	2
Cash-flow hedges | Commodity Contracts | Other current assets
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	4	11
Cash-flow hedges | Commodity Contracts | Accrued liabilities
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	1	1
Cash-flow hedges | Commodity Contracts | Deferred credits and other liabilities
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross		1
Not designated as hedging instruments | Commodity Contracts
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	861	408
Commodity contract derivative liability, gross	867	495
Not designated as hedging instruments | Commodity Contracts | Other current assets
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	841	386
Not designated as hedging instruments | Commodity Contracts | Long-term receivables and other assets, net
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	20	22
Not designated as hedging instruments | Commodity Contracts | Accrued liabilities
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	850	479
Not designated as hedging instruments | Commodity Contracts | Deferred credits and other liabilities
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	$17	$16

Industry_Segments_Details

Industry Segments (Details) (USD $)	3 Months Ended			9 Months Ended		1 Months Ended	3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended			3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	31-May-13	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
	segment		segment	segment	segment	Brazilian chemical facility	Operating segments	Operating segments	Operating segments	Operating segments	Operating segments	Operating segments	Operating segments	Operating segments	Operating segments	Operating segments	Operating segments	Operating segments	Operating segments	Corporate and Eliminations	Corporate and Eliminations	Corporate and Eliminations	Corporate and Eliminations
							Oil and Gas	Oil and Gas	Oil and Gas	Oil and Gas	Chemical	Chemical	Chemical	Chemical	Chemical	Midstream and Marketing	Midstream and Marketing	Midstream and Marketing	Midstream and Marketing
															Brazilian chemical facility
Industry Segments
Number of operating segments	3		3	3	3
Segment Information
Net sales	$6,449		$5,965	$18,283	$18,001		$5,018	$4,635	$14,179	$14,032	$1,200	$1,119	$3,562	$3,439		$442	$389	$1,164	$1,044	($211)	($178)	($622)	($514)
Pretax operating profit (loss)	2,625		2,234	7,056	7,140		2,363	2,026	6,383	6,573	181	162	615	540		212	156	475	364	-131	-110	-417	-337
Income taxes	-1,037		-855	-2,782	-2,869															-1,037	-855	-2,782	-2,869
Discontinued operations, net	-5		-4	-14	-9															-5	-4	-14	-9
Net income (loss)	1,583		1,375	4,260	4,262		2,363	2,026	6,383	6,573	181	162	615	540		212	156	475	364	-1,173	-969	-3,213	-3,215
Charge for former executives and consultants		55																				55
Gain on sale of equity investment				$131		$131									$131

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended		9 Months Ended
In Millions, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Basic EPS
Income from continuing operations	$1,588	$1,379	$4,274	$4,271
Discontinued operations, net	-5	-4	-14	-9
NET INCOME	1,583	1,375	4,260	4,262
Less: Net income allocated to participating securities	-4	-3	-9	-8
Net income, net of participating securities	1,579	1,372	4,251	4,254
Weighted average number of basic shares	805.1	809.7	804.8	810.1
Basic EPS (in dollars per share)	$1.96	$1.69	$5.28	$5.25
Diluted EPS
Net income, net of participating securities	$1,579	$1,372	$4,251	$4,254
Weighted average number of basic shares	805.1	809.7	804.8	810.1
Dilutive effect of potentially dilutive securities (in shares)	0.6	0.7	0.6	0.7
Total diluted weighted average common shares	805.7	810.4	805.4	810.8
Diluted EPS (in dollars per share)	$1.96	$1.69	$5.28	$5.25