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Occidental Petroleum Corporation (OXY) announced today that its board of directors has approved a CEO succession plan and promoted Vicki A. Hollub to Senior Executive Vice President of Occidental and President – Oxy Oil and Gas, responsible for operations in the United States, Middle East region and Latin America. The board plans for Ms. Hollub, who has served as Executive Vice President of Occidental and President, Oxy Oil and Gas – Americas, since 2014, to succeed Stephen I. Chazen as CEO of Occidental after a thorough transition period.

“The board and I congratulate Vicki on her well-deserved promotion. After a thoughtful succession review, the board selected Vicki based on her strong track record of successfully growing our domestic oil and gas business profitably and efficiently,” said Mr. Chazen, President and Chief Executive Officer. “I look forward to working with her to prepare her for the CEO role and to stepping aside when she is ready to take it on.”

“I am excited about the opportunity to work with Steve in preparation to lead this great company,” said Ms. Hollub. “I have enjoyed an incredibly rewarding career with Occidental and believe we have a terrific platform to further increase the value of the company for our investors, employees and partners.”

Ms. Hollub has nearly 35 years of experience in the oil and gas industry, holding a variety of technical and leadership roles, both domestic and international. In 2013, Ms. Hollub was appointed Vice President of Occidental Petroleum Corporation and Executive Vice President, U.S. Operations, Oxy Oil and Gas. She previously served as Executive Vice President, California Operations; and President and General Manager, Permian Basin operations.

Ms. Hollub holds a Bachelor of Science in Mineral Engineering from the University of Alabama. She began her career in 1981 with Cities Service, which was acquired by Occidental in 1982.

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.