EXHIBIT 11

OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2005 AND 2004

(Amounts in millions, except per-share amounts)

		Three Months Ended				Six Months Ended
		June 30				June 30
		2005		2004		2005		2004
BASIC EARNINGS PER SHARE
Earnings applicable to common stock	$	1,536	$	581	$	2,382	$	1,068
Basic shares
Weighted average common shares outstanding		399.0		391.5		398.3		390.5
Vested, unissued restricted stock		1.2		0.6		1.2		0.6
Deferred shares		1.7		1.8		1.7		1.7
Basic shares outstanding		401.9		393.9		401.2		392.8
Basic earnings per share
Income from continuing operations	$	3.81	$	1.48	$	5.94	$	2.73
Discontinued operations, net		0.01		—		—		(.01	)
Basic earnings per common share	$	3.82	$	1.48	$	5.94	$	2.72
DILUTED EARNINGS PER SHARE
Earnings applicable to common stock	$	1,536	$	581	$	2,382	$	1,068
Diluted shares
Basic shares outstanding		401.9		393.9		401.2		392.8
Dilutive effect of exercise of options outstanding		4.5		3.9		4.7		4.1
Deferred, restricted stock		0.9		1.1		0.9		1.1
Diluted shares		407.3		398.9		406.8		398.0
Diluted earnings per share
Income from continuing operations	$	3.77	$	1.46	$	5.86	$	2.69
Discontinued operations, net		0.01		—		—		(.01	)
Diluted earnings per common share	$	3.78	$	1.46	$	5.86	$	2.68