EXHIBIT 11

OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2006 AND 2005
(Amounts in millions, except per-share amounts)

	Three Months					Six Months
	2006			2005		2006			2005
BASIC EARNINGS PER SHARE
Earnings applicable to common stock	$	857		$	1,536	$	2,086		$	2,382
Basic shares
Weighted average common shares outstanding		432.1			399.0		426.7			398.3
Treasury stock		(5.9	)		—		(3.3	)		—
Vested, unissued restricted stock		2.0			1.2		2.0			1.2
Deferred shares		1.9			1.7		1.9			1.7
Basic shares		430.1			401.9		427.3			401.2
Basic earnings per share
Income from continuing operations	$	2.80		$	3.68	$	5.51		$	5.68
Discontinued operations, net		(0.81	)		0.14		(0.63	)		0.26
Basic earnings per common share	$	1.99		$	3.82	$	4.88		$	5.94
DILUTED EARNINGS PER SHARE
Earnings applicable to common stock	$	857		$	1,536	$	2,086		$	2,382
Diluted shares
Basic shares		430.1			401.9		427.3			401.2
Dilutive effect of exercise of options outstanding		2.6			4.5		3.7			4.7
Deferred, restricted stock		1.2			0.9		1.2			0.9
Diluted shares		433.9			407.3		432.2			406.8
Diluted earnings per share
Income from continuing operations	$	2.77		$	3.63	$	5.45		$	5.60
Discontinued operations, net		(0.80	)		0.14		(0.62	)		0.26
Diluted earnings per common share	$	1.97		$	3.77	$	4.83		$	5.86