Item 7.01 Regulation FD.

On September 15, 2020, at the close of the 2020 put election period, Occidental Petroleum Corporation (the "Company") received notice from The Bank of New York Mellon Trust Company, N.A., as trustee of the Company's outstanding Zero Coupon Senior Notes due 2036 (the "Zero Coupon Notes"), that approximately $2.0 million in principal amount of the Zero Coupon Notes were put to the Company for payment in October 2020 for their then-accreted value. Along with the payment of the put Zero Coupon Notes, the Company will use the remaining net proceeds of approximately $865 million from its August 2020 senior unsecured notes issuance to repay in full its floating rate notes due August 2021 and pay down a portion of the Company's variable rate Term Loan due August 2021.

On September 17, 2020, the Board of Directors of the Company declared a quarterly dividend on the Company's Cumulative Perpetual Preferred Stock, Series A, par value $1.00 per share (the "Series A Preferred Stock"), to be paid in cash at a rate of $2,000 per share, on October 15, 2020 to holders of record of the Series A Preferred Stock as of September 30, 2020.

The information furnished pursuant to this Item 7.01 shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. --------------------------------------------------------------------------------

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