Occidental Petroleum (OXY) 8-K Occidental Petroleum Announces 1st Quarter of 2014 Net Income

Exhibit 99.3

Investor Relations Supplemental Schedules

Investor Relations Supplemental Schedules

Summary

	1Q 2014	1Q 2013
Core Results (millions)	$1,387	$1,359
EPS - Diluted	$1.75	$1.69
Reported Net Income (millions)	$1,390	$1,355
EPS - Diluted	$1.75	$1.68
Total Worldwide Sales Volumes (mboe/day)	735	746
Total Worldwide Production Volumes (mboe/day)	745	763
Total Worldwide Crude Oil Realizations ($/BBL)	$99.00	$98.07
Total Worldwide NGL Realizations ($/BBL)	$46.05	$40.27
Domestic Natural Gas Realizations ($/MCF)	$4.57	$3.08
Wtd. Average Basic Shares O/S (millions)	791.3	804.7
Wtd. Average Diluted Shares O/S (millions)	791.7	805.2
Cash Flow from Operations (millions)	$2,700	$2,700

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2014 First Quarter

Net Income (Loss)

($ millions, except per share amounts)

	Reported							Core
	Income			Significant Items Affecting Income				Results
Oil & Gas	$	2,104						$	2,104
Chemical	136							136
Midstream, marketing and other	170							170
Corporate
Interest expense, net	(19		)					(19		)
Other	(72		)					(72		)
Taxes	(932		)					(932		)
Income from continuing operations	1,387			-				1,387
Discontinued operations, net of tax	3			(3		)	Discontinued operations, net	-
Net Income	$	1,390		$	(3	)		$	1,387
Basic Earnings Per Common Share
Income from continuing operations	$	1.75
Discontinued operations, net	-
Net Income	$	1.75						$	1.75
Diluted Earnings Per Common Share
Income from continuing operations	$	1.75
Discontinued operations, net	-
Net Income	$	1.75						$	1.75

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2013 Fourth Quarter

Net Income (Loss)

($ millions, except per share amounts)

	Reported							Core
	Income			Significant Items Affecting Income				Results
Oil & Gas	$	1,511		$	607		Asset impairments	$	2,118
Chemical	128							128
Midstream, marketing and other	1,098			(1,030		)	Plains Pipeline sale gain and other	68
Corporate
Interest expense, net	(23		)					(23		)
Other	(93		)					(93		)
Taxes	(973		)	154			Tax effect of pre-tax adjustments	(819		)
Income from continuing operations	1,648			(269		)		1,379
Discontinued operations, net of tax	(5		)	5			Discontinued operations, net	-
Net Income	$	1,643		$	(264	)		$	1,379
Basic Earnings Per Common Share
Income from continuing operations	$	2.05
Discontinued operations, net	(0.01		)
Net Income	$	2.04						$	1.72
Diluted Earnings Per Common Share
Income from continuing operations	$	2.05
Discontinued operations, net	(0.01		)
Net Income	$	2.04						$	1.72

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2013 First Quarter

Net Income (Loss)

($ millions, except per share amounts)

	Reported						Core
	Income			Significant Items Affecting Income			Results
Oil & Gas	$	1,920					$	1,920
Chemical	159						159
Midstream, marketing and other	215						215
Corporate
Interest expense, net	(30		)				(30		)
Other	(61		)				(61		)
Taxes	(844		)				(844		)
Income from continuing operations	1,359			-			1,359
Discontinued operations, net of tax	(4		)	4		Discontinued operations, net	-
Net Income	$	1,355		$	4		$	1,359
Basic Earnings Per Common Share
Income from continuing operations	$	1.69
Discontinued operations, net	(0.01		)
Net Income	$	1.68					$	1.69
Diluted Earnings Per Common Share
Income from continuing operations	$	1.69
Discontinued operations, net	(0.01		)
Net Income	$	1.68					$	1.69

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

Worldwide Effective Tax Rate

	QUARTERLY
	2014		2013		2013
REPORTED INCOME	QTR 1		QTR 4		QTR 1
Oil & Gas	2,104		1,511		1,920
Chemical	136		128		159
Midstream, marketing and other	170		1,098		215
Corporate & other	(91	)	(116	)	(91	)
Pre-tax income	2,319		2,621		2,203
Income tax expense
Federal and state	379		517		292
Foreign	553		456		552
Total	932		973		844
Income from continuing operations	1,387		1,648		1,359
Worldwide effective tax rate	40	%	37	%	38	%
	2014		2013		2013
CORE RESULTS	QTR 1		QTR 4		QTR 1
Oil & Gas	2,104		2,118		1,920
Chemical	136		128		159
Midstream, marketing and other	170		68		215
Corporate & other	(91	)	(116	)	(91	)
Pre-tax income	2,319		2,198		2,203
Income tax expense
Federal and state	379		363		292
Foreign	553		456		552
Total	932		819		844
Core results	1,387		1,379		1,359
Worldwide effective tax rate	40	%	37	%	38	%

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2014 First Quarter Net Income (Loss)

Reported Income Comparison

	First			Fourth
	Quarter			Quarter
	2014			2013			B / (W)
Oil & Gas	$	2,104		$	1,511		$	593
Chemical	136			128			8
Midstream, marketing and other	170			1,098			(928		)
Corporate
Interest expense, net	(19		)	(23		)	4
Other	(72		)	(93		)	21
Taxes	(932		)	(973		)	41
Income from continuing operations	1,387			1,648			(261		)
Discontinued operations, net	3			(5		)	8
Net Income	$	1,390		$	1,643		$	(253	)
Earnings Per Common Share
Basic	$	1.75		$	2.04		$	(0.29	)
Diluted	$	1.75		$	2.04		$	(0.29	)
Worldwide Effective Tax Rate	40		%	37		%	-3		%

OCCIDENTAL PETROLEUM

2014 First Quarter Net Income (Loss)

Core Results Comparison

	First			Fourth
	Quarter			Quarter
	2014			2013			B / (W)
Oil & Gas	$	2,104		$	2,118		$	(14	)
Chemical	136			128			8
Midstream, marketing and other	170			68			102
Corporate
Interest expense, net	(19		)	(23		)	4
Other	(72		)	(93		)	21
Taxes	(932		)	(819		)	(113		)
Core Results	$	1,387		$	1,379		$	8
Core Results Per Common Share
Basic	$	1.75		$	1.72		$	0.03
Diluted	$	1.75		$	1.72		$	0.03
Worldwide Effective Tax Rate	40		%	37		%	-3		%

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Investor Relations Supplemental Schedules

Oil & Gas Variance Analysis 1Q14 vs. 4Q13 ($ in millions) $5 * Lower overhead costs and other adjustments

Chemical Variance Analysis 1Q14 vs. 4Q13 ($ in millions) * Higher energy and feedstock costs

Midstream Variance Analysis 1Q14 vs. 4Q13 ($ in millions)

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

2014 First Quarter Net Income (Loss)

Reported Income Comparison

	First			First
	Quarter			Quarter
	2014			2013			B / (W)
Oil & Gas	$	2,104		$	1,920		$	184
Chemical	136			159			(23		)
Midstream, marketing and other	170			215			(45		)
Corporate
Interest expense, net	(19		)	(30		)	11
Other	(72		)	(61		)	(11		)
Taxes	(932		)	(844		)	(88		)
Income from continuing operations	1,387			1,359			28
Discontinued operations, net	3			(4		)	7
Net Income	$	1,390		$	1,355		$	35
Earnings Per Common Share
Basic	$	1.75		$	1.68		$	0.07
Diluted	$	1.75		$	1.68		$	0.07
Worldwide Effective Tax Rate	40		%	38		%	-2		%

OCCIDENTAL PETROLEUM

2014 First Quarter Net Income (Loss)

Core Results Comparison

	First			First
	Quarter			Quarter
	2014			2013			B / (W)
Oil & Gas	$	2,104		$	1,920		$	184
Chemical	136			159			(23		)
Midstream, marketing and other	170			215			(45		)
Corporate
Interest expense, net	(19		)	(30		)	11
Other	(72		)	(61		)	(11		)
Taxes	(932		)	(844		)	(88		)
Core Results	$	1,387		$	1,359		$	28
Core Results Per Common Share
Basic	$	1.75		$	1.69		$	0.06
Diluted	$	1.75		$	1.69		$	0.06
Worldwide Effective Tax Rate	40		%	38		%	-2		%

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Investor Relations Supplemental Schedules

Oil & Gas Variance Analysis 1Q14 vs. 1Q13 ($ in millions) * Higher overhead and other costs

Chemical Variance Analysis 1Q14 vs. 1Q13 ($ in millions) * Higher energy and feedstock costs

Midstream Variance Analysis 1Q14 vs. 1Q13 ($ in millions)

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

		First Quarter
		2014	2013
NET PRODUCTION PER DAY:
United States
Oil (MBBL)
California		95	88
Permian		147	148
Midcontinent and other		32	28
Total		274	264
NGLs (MBBL)
California		19	20
Permian		39	40
Midcontinent and other		17	18
Total		75	78
Natural Gas (MMCF)
California		242	260
Permian		153	174
Midcontinent and other		357	383
Total		752	817
Latin America
Oil (MBBL)	Colombia	29	29
Natural Gas (MMCF)	Bolivia	12	13
Middle East / North Africa
Oil (MBBL)
Dolphin		6	6
Oman		66	65
Qatar		68	59
Other		27	45
Total		167	175
NGLs (MBBL)	Dolphin	6	7
Natural Gas (MMCF)
Dolphin		131	134
Oman		40	54
Other		231	244
Total		402	432
Barrels of Oil Equivalent (MBOE)		745	763

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

	First Quarter
	2014	2013
NET SALES VOLUMES PER DAY:
United States
Oil (MBBL)	274	264
NGLs (MBBL)	75	78
Natural Gas (MMCF)	756	819
Latin America
Oil (MBBL)	32	30
Natural Gas (MMCF)	12	13
Middle East / North Africa
Oil (MBBL)
Dolphin	6	6
Oman	65	72
Qatar	71	51
Other	11	27
Total	153	156
NGLs (MBBL)	6	7
Natural Gas (MMCF)	402	432
Barrels of Oil Equivalent (MBOE)	735	746

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

	First Quarter
	2014		2013
OIL & GAS:
REALIZED PRICES
United States
Oil ($/BBL)	95.94		91.57
NGLs ($/BBL)	46.69		40.59
Natural gas ($/MCF)	4.57		3.08
Latin America
Oil ($/BBL)	98.53		107.18
Natural gas ($/MCF)	10.81		11.60
Middle East / North Africa
Oil ($/BBL)	104.65		107.52
NGLs ($/BBL)	38.43		36.56
Total Worldwide
Oil ($/BBL)	99.00		98.07
NGLs ($/BBL)	46.05		40.27
Natural gas ($/MCF)	3.32		2.37
INDEX PRICES
WTI oil ($/BBL)	98.68		94.37
Brent oil ($/BBL)	107.90		112.64
NYMEX gas ($/MCF)	4.66		3.37
REALIZED PRICES AS PERCENTAGE OF INDEX PRICES
Worldwide oil as a percentage of WTI	100%		104%
Worldwide oil as a percentage of Brent	92%		87%
Worldwide NGLs as a percentage of WTI	47%		43%
Domestic natural gas as a percentage of NYMEX	98%		91%
	First Quarter
	2014		2013
Exploration Expense ($MM)
United States	$	45	$	40
Middle East / North Africa	10		10
	$	55	$	50

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

		First Quarter
Capital Expenditures ($MM)		2014		2013
Oil & Gas
California		$	447	$	317
Permian		492		435
Midcontinent and other		230		218
Latin America		67		70
Middle East / North Africa		454		547
Exploration		108		78
Chemical		41		65
Midstream, marketing and other		407		320
Corporate		23		20
	TOTAL	2,269		2,070
Non-controlling interest contributions		(123)		(26)
Cracker JV contribution		60		-
		$	2,206	$	2,044
Depreciation, Depletion &		First Quarter
Amortization of Assets ($MM)		2014		2013
Oil & Gas
Domestic		$	776	$	740
Latin America		42		30
Middle East / North Africa		297		345
Chemical		89		85
Midstream, marketing and other		54		50
Corporate		8		9
	TOTAL	$	1,266	$	1,259

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Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM

CORPORATE

($ millions)

	31-Mar-14				31-Dec-13
CAPITALIZATION
Long-Term Debt (including current maturities)		$	6,877			$	6,939
EQUITY		$	43,369			$	43,372
Total Debt To Total Capitalization		14		%		14		%

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