Issuer Free Writing Prospectus

Filed Pursuant to Rule 433

Registration No. 333-152875

May 12, 2009


Occidental Petroleum Corporation


Final Term Sheet


4.125% Senior Notes due June 1, 2016




Occidental Petroleum Corporation

Anticipated Ratings (Moody’s / S&P / Fitch):*


A2/A/A (Stable/Stable/Stable)

Trade Date:


May 12, 2009

Settlement Date:


May 15, 2009 (T+3)



Registration Statement No.  333-152875

Security Description:


4.125% Senior Notes due June 1, 2016

Principal Amount:





June 1, 2016

Interest Payment Dates:


Semi-annually in arrears on June 1 and December 1, commencing December 1, 2009



4.125% per annum, accruing from May 15, 2009

Benchmark Treasury:


2.625% due April 30, 2016

Benchmark Treasury Yield:



Spread to Benchmark Treasury:


+160 bps

Yield to Maturity:



Initial Price to Public:


99.292% per Note

Make-Whole Call:


At any time at the greater of (i) 100% and (ii) the present value of remaining scheduled payments of principal and interest (excluding interest accrued to the redemption date) discounted at the Adjusted Treasury Rate plus 25 basis points



$2,000 x $1,000




Joint Book-Running Managers:


Barclays Capital Inc.

Citigroup Global Markets Inc.

J.P. Morgan Securities Inc.

UBS Securities LLC



Banc of America Securities LLC

Mitsubishi UFJ Securities (USA), Inc.

RBS Securities Inc.

Wachovia Capital Markets, LLC





BBVA Securities Inc.

BNP Paribas Securities Corp.

BNY Mellon Capital Markets, LLC

Credit Suisse Securities (USA) LLC

ING Financial Markets LLC

Mizuho Securities USA Inc.

Scotia Capital (USA) Inc.

SG Americas Securities, LLC

Standard Chartered Bank

The Williams Capital Group, L.P.


*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn at any time.


The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.  Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.  You may get these documents for free by visiting EDGAR on the SEC website at  Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at 1-800-227-2275, ext. 2663, Citigroup Global Markets Inc. toll-free at 1-877-858-5407, J.P. Morgan Securities Inc. collect at 212-834-4533, or UBS Securities LLC toll free at 1-877-827-6444 ext. 561-3884.


This final term sheet supplements, and should be read in conjunction with, Occidental Petroleum Corporation’s preliminary prospectus supplement dated May 12, 2009 and accompanying prospectus dated August 11, 2008 and the documents incorporated by reference therein.


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