INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2011

INVESTMENTS AND RELATED-PARTY TRANSACTIONS

Summarized financial information of equity-method investments

For the years ended December 31, (in millions)	2011		2010		2009
Revenues	$	2,439	$	1,759	$	1,080
Costs and expenses	2,046		1,482		853
Net income	$	393	$	277	$	227
As of December 31, (in millions)	2011		2010
Current assets	$	2,230	$	2,041
Non-current assets	$	4,381	$	3,965
Current liabilities	$	1,532	$	1,323
Long-term debt	$	2,305	$	2,454
Other non-current liabilities	$	168	$	119
Stockholders’ equity	$	2,606	$	2,110

Related-party transactions

December 31, (in millions)	2011		2010		2009
Purchases (a)	$	10	$	153	$	138
Sales (b)	$	392	$	440	$	291
Services	$	10	$	2	$	2
Advances and amounts due from	$	32	$	135	$	123
Amounts due to	$	21	$	383	$	112

(a)In 2010 and 2009, purchases from EHP accounted for 90 percent and 92 percent, respectively. 

(b)In 2011, sales to Dolphin Energy accounted for 16 percent.  In 2010 and 2009, sales to EHP and Dolphin Energy accounted for 44 percent and 63 percent, respectively.  In 2011, 2010 and 2009, sales of Occidental-produced oil and NGLs to Plains Pipeline accounted for 76 percent, 50 percent and 26 percent of these totals, respectively.  Additionally, Occidental conducts marketing and trading activities with Plains Pipeline for oil and NGLs.  These transactions are reported in Occidental’s income statement on a net margin basis.  The sales amounts above include the net margins on such transactions, which were negligible.