Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
OLSON R CASEY
   2. Issuer Name and Ticker or Trading Symbol
OCCIDENTAL PETROLEUM CORP /DE/ [OXY] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Vice President
(Last)
(First)
(Middle)
OCCIDENTAL PETROLEUM CORP, 10889 WILSHIRE BOULEVARD		 3. Date of Earliest Transaction (Month/Day/Year)
08/22/2006
(Street)

LOS ANGELES, CA 90024		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/22/2006   M   6,424 A $ 15.565 165,036 (1) D  
Common Stock 08/22/2006   S   6,424 D $ 53.134 158,612 D  
Common Stock 08/22/2006   M   23,576 A $ 15.565 182,188 D  
Common Stock 08/22/2006   F   14,537 D $ 53.07 167,651 D  
Common Stock 08/22/2006   S   9,039 D $ 53.1258 158,612 D  
Common Stock 08/22/2006   M   14,638 A $ 24.66 173,250 D  
Common Stock 08/22/2006   F   10,386 D $ 53.07 162,864 D  
Common Stock 08/22/2006   S   4,252 D $ 53.1325 158,612 D  
Common Stock 08/22/2006   M   16,666 A $ 24.66 175,278 D  
Common Stock 08/22/2006   D   16,666 D $ 53.09 158,612 D  
Common Stock 08/22/2006   M   66,667 A $ 40.805 225,279 D  
Common Stock 08/22/2006   F   58,315 D $ 53.06 166,964 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee stock option (right to buy) $ 15.565 (2) 08/22/2006   M     6,424 (2)   (3) 07/16/2013 Common Stock 6,424 (2) $ 0 23,576 (2) D  
Employee stock option (right to buy) $ 15.565 (2) 08/22/2006   M     23,576 (2)   (3) 07/16/2013 Common Stock 23,576 (2) $ 0 0 (2) D  
Employee stock option (right to buy) $ 24.66 (4) 08/22/2006   M     14,638 (4)   (5) 07/14/2014 Common Stock 14,638 (4) $ 0 18,694 (4) D  
Stock appreciation right $ 24.66 (6) 08/22/2006   M     16,666 (6)   (7) 07/14/2014 Common Stock 16,666 (6) $ 0 16,666 (6) D  
Stock appreciation right $ 40.805 (8) 08/22/2006   M     66,667 (8)   (9) 07/13/2015 Common Stock 66,667 (8) $ 0 133,333 (8) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
OLSON R CASEY
OCCIDENTAL PETROLEUM CORP
10889 WILSHIRE BOULEVARD
LOS ANGELES, CA 90024		       Executive Vice President  

Signatures

 /s/ CHRISTEL H. PAULI, Attorney-in-Fact for R. Casey Olson   08/24/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On August 15, 2006, the common stock of Occidental Petroleum Corporation split 2-for-1, resulting in Mr. Olson's ownership of 79,306 shares of additional common stock.
(2) This option was previously reported as covering 30,000 shares at an exercise price of $31.13 per share, but was adjusted to reflect the stock split that occurred on August 15, 2006.
(3) The option vested in three equal annual installments beginning on July 16, 2004.
(4) This option was previously reported as covering 25,000 shares at an exercise price of $49.32 per share, but was adjusted to reflect the stock split that occurred on August 15, 2006.
(5) The option vested in three equal annual installments beginning on July 14, 2005.
(6) This stock appreciation right was previously reported as covering 25,000 shares at an exercise price of $49.32 per share, but was adjusted to reflect the stock split that occurred on August 15, 2006.
(7) The stock appreciation right vested in three equal annual installments beginning on July 14, 2005.
(8) This stock appreciation right was previously reported as covering 100,000 shares at an exercise price of $81.61 per share, but was adjusted to reflect the stock split that occurred on August 15, 2006.
(9) The stock appreciation right vested in three equal annual installments beginning on July 13, 2006.

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