INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2012

INVESTMENTS AND RELATED-PARTY TRANSACTIONS

Summarized financial information of equity-method investments

For the years ended December 31, (in millions)	2012		2011		2010
Revenues	$	2,667	$	2,439	$	1,759
Costs and expenses	2,310		2,046		1,482
Net income	$	357	$	393	$	277
As of December 31, (in millions)	2012		2011
Current assets	$	2,065	$	2,230
Non-current assets	$	5,104	$	4,381
Current liabilities	$	1,774	$	1,532
Long-term debt	$	2,250	$	2,305
Other non-current liabilities	$	241	$	168
Stockholders’ equity	$	2,904	$	2,606

Related-party transactions

December 31, (in millions)	2012		2011		2010
Purchases (a)	$	8	$	10	$	153
Sales (b)	$	419	$	392	$	440
Services	$	17	$	10	$	2
Advances and amounts due from	$	25	$	32	$	135
Amounts due to	$	129	$	21	$	383

(a) In 2010, purchases from EHP accounted for 90 percent of total purchases.

(b) In 2012, 2011 and 2010, sales of Occidental-produced oil and NGLs to Plains Pipeline accounted for 80 percent, 76 percent and 50 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.  In 2012 and 2011, sales to Dolphin Energy accounted for 12 percent and 16 percent, of total sales, respectively.  In 2010, sales to EHP and Dolphin Energy accounted for 44 percent of total sales.