EXHIBIT 10.4

                Receipt and Acknowledgment

                                               September 11, 1997

     The undersigned, Dr. Dale R. Laurance ("Dr. Laurance")
President and Chief Operating Officer of Occidental Petroleum
Corporation ("OPC"),

     (a)  hereby acknowledges receipt of a payment (the
"Payment") from OPC in the amount of Seventeen Million
Dollars ($17,000,000); and

     (b)  in consideration of the Payment, hereby agrees that
effective as of the date hereof:

          (i)  that certain Employment Agreement entered into
as of September 16, 1993 by and between OPC and Dr. Laurance
(the "1993 Employment Agreement"), has been amended and, as
amended, restated by that certain Employment Agreement
entered into as of September 11, 1997 by and between OPC and
Dr. Laurance (the "1997 Amended Employment Agreement"); and

          (ii) his rights and entitlements respecting
his employment are defined by and pursuant to the 1997 Amended
Employment Agreement.

     Dr. Laurance shall take all action necessary to cause
that certain separate grantor ("Rabbi") trust maintained by
OPC and administered by Wells Fargo Bank, known as the
"Occidental Petroleum Grantor Trust 4 - Laurance," to be




terminated and the assets of the separate trust for Dale R.
Laurance to be returned to OPC.

     Dr. Laurance and OPC hereby expressly agree that nothing
in this Receipt and Acknowledgment is intended to or does
impair any term or condition of the 1997 Amended Employment
Agreement including without limitation any rights of
Dr. Laurance or his estate or his wife defined by or pursuant
to the 1997 Amended Employment Agreement.

                                                Dale R. Laurance
                                                --------------------------

     In consideration of the Payment to Dr. Laurance, the
receipt and sufficiency of which are hereby acknowledged,
Lynda E. Laurance does hereby join in, accept and consent to
the foregoing provisions.  Lynda E. Laurance also hereby
acknowledges that she has the right to separate legal counsel
and hereby waives that right.

                                                 Lynda E. Laurance
                                                 -------------------------
                                                 Lynda E. Laurance

LA972530.059/4




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