Occidental Petroleum Corporatio (OXY) 8-K Occidental Petroleum Announces First Quarter of 2012 Income

EXHIBIT 99.3

Investor Relations Supplemental Schedules

Investor Relations Supplemental Schedules

Summary

($ Millions)

	1Q 2012		1Q 2011
Core Results	$1,560		$1,593
EPS - Diluted	$1.92		$1.96
Reported Net Income	$1,559		$1,549
EPS - Diluted	$1.92		$1.90
Total Worldwide Sales Volumes (mboe/day)	745		728
Total Worldwide Production Volumes (mboe/day)	755		730
Total Worldwide Crude Oil Realizations ($/BBL)	$107.98		$92.14
Total Worldwide NGL Realizations ($/BBL)	$52.51		$52.64
Domestic Natural Gas Realizations ($/MCF)	$2.84		$4.21
Wtd. Average Basic Shares O/S (mm)	810.5		812.6
Wtd. Average Diluted Shares O/S (mm)	811.3		813.4
Shares Outstanding (mm)	811.1		812.9
Cash Flow from Operations	$	2,800	$	2,200

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2012 First Quarter

Net Income (Loss)

($ millions)

	Reported					Core
	Income		Significant Items Affecting Income			Results
Oil & Gas	$	2,504				$	2,504
Chemical	184					184
Midstream, marketing and other	131					131
Corporate
Interest expense, net	(28)					(28)
Other	(92)					(92)
Taxes	(1,139)					(1,139)
Income from continuing operations	1,560		-			1,560
Discontinued operations, net of tax	(1)		1		Discontinued operations, net	-
Net Income	$	1,559	$	1		$	1,560
Basic Earnings Per Common Share
Income from continuing operations	$	1.92
Discontinued operations, net	-
Net Income	$	1.92				$	1.92
Diluted Earnings Per Common Share
Income from continuing operations	$	1.92
Discontinued operations, net	-
Net Income	$	1.92				$	1.92

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2011 First Quarter

Net Income (Loss)

($ millions)

	Reported					Core
	Income		Significant Items Affecting Income			Results
Oil & Gas	$	2,468	$	35	Libya exploration write-off	$	2,510
			(22)		Gain on sale of Colombia pipeline interest
			29		Foreign Tax
Chemical	219					219
Midstream, marketing and other	114					114
Corporate
Interest expense, net	(214)		163		Premium on debt extinguishments	(51)
Other	(128)					(128)
Taxes	(1,054)		(50)		Tax effect of adjustments	(1,071)
			33		State income tax charge
Income from continuing operations	1,405		188			1,593
Discontinued operations, net of tax	144		(144)		Discontinued operations, net	-
Net Income	$	1,549	$	44		$	1,593
Basic Earnings Per Common Share
Income from continuing operations	$	1.72
Discontinued operations, net	0.18
Net Income	$	1.90				$	1.96
Diluted Earnings Per Common Share
Income from continuing operations	$	1.72
Discontinued operations, net	0.18
Net Income	$	1.90				$	1.96

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Worldwide Effective Tax Rate

	QUARTERLY
	2012		2011		2011
REPORTED INCOME	QTR 1		QTR 4		QTR 1
Oil & Gas	2,504		2,537		2,468
Chemicals	184		144		219
Midstream, marketing and other	131		70		114
Corporate & other	(120	)	(161	)	(342	)
Pre-tax income	2,699		2,590		2,459
Income tax expense
Federal and state	446		435		365
Foreign	693		514		689
Total	1,139		949		1,054
Income from continuing operations	1,560		1,641		1,405
Worldwide effective tax rate	42%		37%		43%

	2012		2011		2011
CORE RESULTS	QTR 1		QTR 4		QTR 1
Oil & Gas	2,504		2,537		2,510
Chemicals	184		144		219
Midstream, marketing and other	131		70		114
Corporate & other	(120	)	(161	)	(179	)
Pre-tax income	2,699		2,590		2,664
Income tax expense
Federal and state	446		435		395
Foreign	693		514		676
Total	1,139		949		1,071
Core results	1,560		1,641		1,593
Worldwide effective tax rate	42%		37%		40%

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2012 First Quarter Net Income (Loss)

Reported Income Comparison

	First			Fourth
	Quarter			Quarter
	2012			2011			B / (W)
Oil & Gas	$	2,504		$	2,537		$	(33	)
Chemical		184			144			40
Midstream, marketing and other		131			70			61
Corporate
Interest expense, net		(28	)		(25	)		(3	)
Other		(92	)		(136	)		44
Taxes		(1,139	)		(949	)		(190	)
Income from continuing operations		1,560			1,641			(81	)
Discontinued operations, net		(1	)		(7	)		6
Net Income	$	1,559		$	1,634		$	(75	)
Earnings Per Common Share
Basic	$	1.92		$	2.01		$	(0.09	)
Diluted	$	1.92		$	2.01		$	(0.09	)
Worldwide Effective Tax Rate	42%			37%			-5%

OCCIDENTAL PETROLEUM

2012 First Quarter Net Income (Loss)

Core Results Comparison

	First			Fourth
	Quarter			Quarter
	2012			2011			B / (W)
Oil & Gas	$	2,504		$	2,537		$	(33	)
Chemical		184			144			40
Midstream, marketing and other		131			70			61
Corporate
Interest expense, net		(28	)		(25	)		(3	)
Other		(92	)		(136	)		44
Taxes		(1,139	)		(949	)		(190	)
Core Results		$1,560		$	1,641		$	(81	)
Core Results Per Common Share
Basic	$	1.92		$	2.02		$	(0.10	)
Diluted	$	1.92		$	2.02		$	(0.10	)
Worldwide Effective Tax Rate	42%			37%			-5%

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Investor Relations Supplemental Schedules

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2012 First Quarter Net Income (Loss)

Reported Income Comparison

	First		First
	Quarter		Quarter
	2012		2011		B / (W)
Oil & Gas	$	2,504	$	2,468	$	36
Chemical	184		219		(35)
Midstream, marketing and other	131		114		17
Corporate
Interest expense, net	(28)		(214)		186
Other	(92)		(128)		36
Taxes	(1,139)		(1,054)		(85)
Income from continuing operations	1,560		1,405		155
Discontinued operations, net	(1)		144		(145)
Net Income	$	1,559	$	1,549	$	10
Earnings Per Common Share
Basic	$	1.92	$	1.90	$	0.02
Diluted	$	1.92	$	1.90	$	0.02
Worldwide Effective Tax Rate	42%		43%		1%

OCCIDENTAL PETROLEUM

2012 First Quarter Net Income (Loss)

Core Results Comparison

	First		First
	Quarter		Quarter
	2012		2011		B / (W)
Oil & Gas	$	2,504	$	2,510	$	(6)
Chemical	184		219		(35)
Midstream, marketing and other	131		114		17
Corporate
Interest expense, net	(28)		(51)		23
Other	(92)		(128)		36
Taxes	(1,139)		(1,071)		(68)
Core Results	$	1,560	$	1,593	$	(33)
Core Results Per Common Share
Basic	$	1.92	$	1.96	$	(0.04)
Diluted	$	1.92	$	1.96	$	(0.04)
Worldwide Effective Tax Rate	42%		40%		-2%

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Investor Relations Supplemental Schedules

8

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

		First Quarter
		2012	2011
NET PRODUCTION PER DAY:
United States
Crude Oil (MBBL)
	California	86	77
	Permian	139	132
	Midcontinent and other	19	13
	Total	244	222
NGL (MBBL)
	California	15	14
	Permian	39	37
	Midcontinent and other	18	8
	Total	72	59
Natural Gas (MMCF)
	California	267	242
	Permian	155	165
	Midcontinent and other	412	327
	Total	834	734
Latin America
Crude Oil (MBBL)	Colombia	24	31
Natural Gas (MMCF)	Bolivia	14	16
Middle East / North Africa
Crude Oil (MBBL)
	Bahrain	4	4
	Dolphin	8	9
	Oman	64	67
	Qatar	72	75
	Other	42	57
	Total	190	212
NGL (MBBL)
	Dolphin	9	10
	Other	-	1
	Total	9	11
Natural Gas (MMCF)
	Bahrain	219	173
	Dolphin	173	196
	Oman	57	50
	Total	449	419
Barrels of Oil Equivalent (MBOE)		755	730

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

		First Quarter
		2012	2011
NET SALES VOLUMES PER DAY:
United States
Crude Oil (MBBL)		244	222
NGL (MBBL)		72	59
Natural Gas (MMCF)		834	734
Latin America
Crude Oil (MBBL)		24	33
Natural Gas (MMCF)		14	16
Middle East / North Africa
Crude Oil (MBBL)
	Bahrain	4	4
	Dolphin	8	9
	Oman	64	71
	Qatar	70	76
	Other	34	49
	Total	180	209
NGL (MBBL)	Dolphin	9	10
Natural Gas (MMCF)		449	419
Barrels of Oil Equivalent (MBOE)		745	728

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

	First Quarter
	2012	2011
OIL & GAS:
PRICES
United States
Crude Oil ($/BBL)	103.52	88.04
NGL ($/BBL)	53.95	55.90
Natural gas ($/MCF)	2.84	4.21
Latin America
Crude Oil ($/BBL)	103.31	92.68
Natural Gas ($/MCF)	11.63	8.23
Middle East / North Africa
Crude Oil ($/BBL)	114.80	96.44
NGL ($/BBL)	40.77	33.93
Total Worldwide
Crude Oil ($/BBL)	107.98	92.14
NGL ($/BBL)	52.51	52.64
Natural Gas ($/MCF)	2.22	3.05
	First Quarter
	2012	2011
Exploration Expense
United States	$    61	$    40
Latin America	-	-
Middle East / North Africa	37	44
TOTAL REPORTED	$    98	$    84
Less - non-core impairments	-	(35)
TOTAL CORE	$    98	$    49

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

	First Quarter
Capital Expenditures ($MM)	2012	2011
Oil & Gas
California	$   523	$   308
Permian	429	216
Midcontinent and other	424	180
Latin America	42	42
Middle East / North Africa	428	352
Exploration	171	65
Chemicals	42	22
Midstream, marketing and other	332	127
Corporate	21	13
TOTAL	$ 2,412	$ 1,325
Depreciation, Depletion &	First Quarter
Amortization of Assets ($MM)	2012	2011
Oil & Gas
Domestic	$   588	$   407
Latin America	25	28
Middle East / North Africa	335	322
Chemicals	85	82
Midstream, marketing and other	46	45
Corporate	6	6
TOTAL	$ 1,085	$   890

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

CORPORATE

($ millions)

	31-Mar-12	31-Dec-11
CAPITALIZATION
Long-Term Debt (including short-term borrowings)	$     5,873	$      5,871
EQUITY	$   38,747	$    37,620
Total Debt To Total Capitalization	13%	13%

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