Occidental Expands Share Repurchase Program
Posted on February 15, 2008 – 9:22 am | by oilandgaspress.com
LOS ANGELES, Feb. 14, 2008 (PRIME NEWSWIRE) — Occidental Petroleum Corporation (NYSE:OXY) announced today that its Board of Directors
increased the number of shares authorized for repurchase by 20 million shares. Since beginning the program in October 2005, the company has
repurchased approximately 52.4 million shares, leaving 22.6 million shares to be repurchased from time to time in the open market or
otherwise. The share repurchases will continue to be funded solely from available cash from operations and are subject to market conditions and
other factors.
ABOUT OXY
Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United
States, Middle East/North Africa and Latin America regions. Oxy is the fourth largest U.S. oil and gas company, based on equity market
capitalization. Oxy’s wholly owned subsidiary, OxyChem, manufactures and markets chlor-alkali products and vinyls. Occidental is committed
to safeguarding the environment, protecting the safety and health of employees and neighboring communities and upholding high standards of
social responsibility in all of the company’s worldwide operations.
FORWARD LOOKING STATEMENTS
Statements in this release that contain words such as “will,” “expect” or “estimate,” or otherwise relate to the future, are forward-looking
and involve risks and uncertainties that could significantly affect expected results. Factors that could cause results to differ materially
include, but are not limited to: global commodity pricing fluctuations and supply/demand considerations for oil, gas and chemicals;
higher-than-expected costs; operational interruptions; political risk; and not successfully completing (or any material delay in) any
expansion, capital expenditure, acquisition, or disposition. You should not place undue reliance on these forward-looking statements which
speak only as of the date of this filing. 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. U.S. investors are urged to consider carefully the
disclosure in Occidental’s Form 10-K, available through the following toll-free telephone number, 1-888-OXYPETE (1-888-699-7383) or on the
Internet at http://www.oxy.com. You also can obtain a copy from the SEC by calling 1-800-SEC-0330.
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CONTACT: Occidental Petroleum Corporation
Richard S. Kline (media) 310-443-6249 richard_kline@oxy.com
Chris Stavros (investors) 212-603-8184 chris_stavros@oxy.com
web: www.oxy.com
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Tags: Occidental
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