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	<title>Occidental Petroleum Provides Hurricane Harvey Business Impact Update | Business Wire</title>
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					<h1 class="epi-fontLg bwalignc">
      <span class="bwuline"><b>Occidental Petroleum Provides Hurricane Harvey 
      Business Impact Update</b></span>
    </h1> 
				
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				<time datetime="2017-10-03T13:00:00Z" itemprop="dateModified">October 03, 2017 09:00 AM Eastern Daylight Time</time>
				<meta itemprop="datePublished" content="2017-10-03T13:00:00Z" />
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				<p>HOUSTON--(<span itemprop="provider publisher copyrightHolder" itemscope="itemscope" itemtype="https://schema.org/Organization" itemid="https://www.businesswire.com" ><span itemprop="name" ><a rel="nofollow" itemprop="url" href="https://www.businesswire.com/">BUSINESS WIRE</a></span></span>)--<a target="_blank" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.oxy.com%2F&amp;esheet=51693314&amp;newsitemid=20171003005894&amp;lan=en-US&amp;anchor=Occidental+Petroleum+Corporation&amp;index=1&amp;md5=07d8432dd34644ba40a82527a1180d7f" rel="nofollow">Occidental 
      Petroleum Corporation</a> (NYSE:OXY) announced third quarter 2017 
      business impacts of Hurricane Harvey as operations have returned to 
      pre-storm levels. Overall, the storm caused minimal disruptions to 
      operations and Occidental expects this one-time financial and production 
      impact to be limited to the third quarter.
    </p>
    <p>
      The company experienced Hurricane Harvey business impacts within the 
      Chemicals, Midstream and Permian Resources segments. Some Chemicals and 
      Midstream operations suspended operations along the Gulf Coast, while 
      Permian Resources encountered third-party disruptions, impacting 
      production due to gas processing and NGL delivery.
    </p>
    <p>
      “<!-- no quote -->We are very proud of our team’s efforts to safely enact our business 
      continuity plans across impacted assets and manage our business during 
      and after the storm,” said President and CEO Vicki Hollub. “<!-- no quote -->We remain on 
      track and continue along our pathway to break even at $50 after dividend 
      and production growth and our long-term, returns-focused value 
      proposition.”
    </p>
    <p>
      For the third quarter, the impacts of Hurricane Harvey are anticipated 
      to be:
    </p>
    <ul>
      <li class="bwlistitemmargb">
        Chemicals segment pre-tax income reduction of approximately $60 million
      </li>
      <li class="bwlistitemmargb">
        Midstream segment pre-tax income reduction of approximately $10 million
      </li>
      <li class="bwlistitemmargb">
        Permian Resources daily production reduced by approximately 1,000 
        barrels of oil equivalent (BOE) per day
      </li>
      <li class="bwlistitemmargb">
        Permian EOR was minimally impacted due to this asset area’s 
        infrastructure position
      </li>
    </ul>
    <p>
      To prepare for Hurricane Harvey, our Chemicals business safely shut down 
      its facilities at Ingleside and Houston well ahead of any storm impact. 
      At Ingleside, the ethylene cracker resumed operation on September 11, 
      while production at the vinyl chloride monomer (VCM) and chlor-alkali 
      facilities resumed on September 15 and September 16, respectively.
    </p>
    <p>
      At the Houston complex, the Pasadena and Deer Park polyvinyl chloride 
      (PVC) plants restarted August 31. The Battleground chlor-alkali facility 
      resumed production September 2, and the LaPorte VCM plant resumed 
      production on September 6. Deer Park VCM resumed production on September 
      18, due to a lack of utilities from a third-party supplier.
    </p>
    <p>
      In our Midstream segment, the Oxy Ingleside Energy Center oil export 
      terminal suspended operations August 25, when the Port of Corpus Christi 
      closed ahead of the storm. The facility reopened August 30, and on 
      September 2 shipped the first cargo of crude oil from the Western Gulf 
      Coast after port operations commenced.
    </p>
    <p class="bwalignc">
      <span class="bwuline"><b>About Occidental Petroleum</b></span>
    </p>
    <p>
      <a target="_blank" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.oxy.com%2F&amp;esheet=51693314&amp;newsitemid=20171003005894&amp;lan=en-US&amp;anchor=Occidental+Petroleum+Corporation&amp;index=2&amp;md5=afea8150cd8afcb73982c81c826227e5" rel="nofollow">Occidental 
      Petroleum Corporation</a> is an international oil and gas exploration 
      and production company with operations in the United States, Middle East 
      and Latin America. Headquartered in Houston, Occidental is one of the 
      largest U.S. oil and gas companies, based on equity market 
      capitalization. Occidental’s midstream and marketing segment gathers, 
      processes, transports, stores, purchases and markets hydrocarbons and 
      other commodities. The company’s wholly owned subsidiary OxyChem 
      manufactures and markets basic chemicals and vinyls. Occidental posts or 
      provides links to important information on its website at <a target="_blank" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.oxy.com&amp;esheet=51693314&amp;newsitemid=20171003005894&amp;lan=en-US&amp;anchor=www.oxy.com&amp;index=3&amp;md5=3fcb822a80b46956ede6162f5aaccdaf" rel="nofollow">www.oxy.com</a>.
    </p>
    <p class="bwalignc">
      <span class="bwuline"><b>Forward-Looking Statements</b></span>
    </p>
    <p>
      Portions of this press release contain forward-looking statements and 
      involve risks and uncertainties that could materially affect expected 
      results of operations, liquidity, cash flows and business prospects. 
      Actual results may differ from anticipated results, sometimes 
      materially, and reported results should not be considered an indication 
      of future performance. Factors that could cause results to differ 
      include, but are not limited to: global commodity pricing fluctuations; 
      supply and demand considerations for Occidental’s products; 
      higher-than-expected costs; the regulatory approval environment; not 
      successfully completing, or any material delay of, field developments, 
      expansion projects, capital expenditures, efficiency projects, 
      acquisitions or dispositions; uncertainties about the estimated 
      quantities of oil and natural gas reserves; lower-than-expected 
      production from development projects or acquisitions; exploration risks; 
      general economic slowdowns domestically or internationally; political 
      conditions and events; liability under environmental regulations 
      including remedial actions; litigation; disruption or interruption of 
      production or manufacturing or facility damage due to accidents, 
      chemical releases, labor unrest, weather, natural disasters, 
      cyber-attacks or insurgent activity; failure of risk management; changes 
      in law or regulations; reorganization or restructuring of Occidental’s 
      operations; or changes in tax rates. Words such as “estimate,” 
      “project,” “predict,” “will,” “would,” “should,” “could,” “may,” 
      “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” 
      “goal,” “target,” “objective,” “likely” or similar expressions that 
      convey the prospective nature of events or outcomes generally indicate 
      forward-looking statements. You should not place undue reliance on these 
      forward-looking statements, which speak only as of the date of this 
      release. Unless legally required, Occidental does not undertake any 
      obligation to update any forward-looking statements, as a result of new 
      information, future events or otherwise. Material risks that may affect 
      Occidental’s results of operations and financial position appear in Part 
      I, Item 1A “Risk Factors” of the 2016 Form 10-K.
    </p>
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    </p>
				
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					<h2>Contacts</h2>
					
    <p>
      Occidental Petroleum Corporation<br/>Media:<br/>Melissa E. Schoeb<br/>713-366-5615<br/><a target="_blank" href="mailto:melissa_schoeb@oxy.com">melissa_schoeb@oxy.com</a><br/>or<br/>Investors:<br/>Richard 
      A. Jackson<br/>713-215-7235<br/><a target="_blank" href="mailto:richard_jackson@oxy.com">richard_jackson@oxy.com</a><br/>On 
      the web: <a target="_blank" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.oxy.com&amp;esheet=51693314&amp;lan=en-US&amp;anchor=www.oxy.com&amp;index=4&amp;md5=4f8df96235bac17339bad1681b3dbad8">www.oxy.com</a>
    </p>
  
				
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    <p>
      Occidental Petroleum Corporation<br/>Media:<br/>Melissa E. Schoeb<br/>713-366-5615<br/><a target="_blank" href="mailto:melissa_schoeb@oxy.com">melissa_schoeb@oxy.com</a><br/>or<br/>Investors:<br/>Richard 
      A. Jackson<br/>713-215-7235<br/><a target="_blank" href="mailto:richard_jackson@oxy.com">richard_jackson@oxy.com</a><br/>On 
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