TEXT-Fitch release on Occidental Petroleum

(The following statement was released by the rating agency)

May 1 - Fitch Ratings has affirmed the following ratings of Occidental Petroleum Corporation (OXY.N: Quote, Profile, Research) (NYSE: OXY):

--Issuer Default Rating (IDR) 'A';

--Senior Unsecured Bank Facility 'A';

--Senior Unsecured Debt 'A';

--Commercial paper 'F1';

--Short-term IDR 'F1'.

The Ratings Outlook is Stable.

OXY's ratings reflect the company's low absolute level of debt, diversified portfolio of properties, significant leverage to oil, and solid operational metrics.