Occidental Petroleum Board Elects Eugene L. Batchelder Chairman

HOUSTON--(BUSINESS WIRE)--

Occidental Petroleum Corporation OXY announced today that its Board of Directors elected Eugene L. Batchelder non-executive Chairman, succeeding Ambassador Edward P. Djerejian, who has retired from the Board.

Mr. Batchelder, 67, joined the Board as an independent director in 2013, and has been serving as a member of the Audit; Environment, Health and Safety; and Management Succession and Talent Development committees. He has more than 40 years of experience in the energy industry, including two decades in senior management, most recently at ConocoPhillips, where he served until his retirement in 2012.

"Gene's energy industry experience and in-depth knowledge of key corporate issues, including financial management, succession planning, and compensation and benefits will benefit Occidental and our shareholders. I look forward to continuing to work with Gene and the full Board in the coming year," said Stephen I. Chazen, President and Chief Executive Officer.

"I join the Board in extending our deepest appreciation to Ed for two decades of dedicated service to Occidental. It has been a great privilege to work with him. Ed's leadership during the past two years as Chairman and counsel during his tenure on the Board have been invaluable in creating shareholder value and positioning the company for future success," said Mr. Chazen.

About Occidental Petroleum

Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East region 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 in support of Occidental's businesses. The company's wholly owned subsidiary OxyChem manufactures and markets chlor-alkali products and vinyls.