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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

        DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) APRIL 26, 2005

                        OCCIDENTAL PETROLEUM CORPORATION
             (Exact name of registrant as specified in its charter)

            DELAWARE                     1-9210              95-4035997
  (State or other jurisdiction        (Commission         (I.R.S. Employer
        of incorporation)             File Number)       Identification No.)

              10889 WILSHIRE BOULEVARD
              LOS ANGELES, CALIFORNIA                             90024
      (Address of principal executive offices)                 (ZIP code)

               Registrant's telephone number, including area code:
                                 (310) 208-8800

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Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the Registrant under any of the following
provisions (see General Instruction A.2. below):

[   ]  Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)

[   ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)

[   ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[   ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))



SECTION 2 - FINANCIAL INFORMATION

Item 2.02.  Results of Operations and Financial Condition
----------  ---------------------------------------------

     On April 26, 2005, Occidental Petroleum Corporation released information
regarding its results of operations for the fiscal period ended March 31, 2005.
The exhibits to this Form 8-K and the information set forth in this Item 2.02
are being furnished pursuant to Item 2.02, Results of Operations and Financial
Condition. The full text of the press release is attached to this report as
Exhibit 99.1. The full text of the speeches given by Dr. Ray R. Irani and
Stephen I. Chazen are attached to this report as Exhibit 99.2. Investor
Relations Supplemental Schedules are attached to this report as Exhibit 99.3.



SECTION 8 - OTHER EVENTS

Item 8.01.  Other Events
----------  ------------

     On April 26, 2005, Occidental Petroleum Corporation announced net income
for the first quarter 2005 of $846 million ($2.11 per share), compared with $487
million ($1.24 per share) for the first quarter 2004.  Core earnings for the
first quarter 2005 were $866 million ($2.16 per share), compared with $476
million ($1.22 per share) for the same period in 2004.

                                   Oil and Gas
                                   -----------

     Oil and gas segment earnings were a record $1.3 billion for the first
quarter 2005, which was 47 percent higher than the $915 million in earnings for
the first quarter 2004. The first quarter 2005 earnings reflected a $529 million
improvement from the impact of higher energy prices, partially offset by higher
operating expenses and increased DD&A rates.

     For the quarter, oil and gas production averaged 565,000 barrels of oil
equivalent, which was essentially flat with the 568,000 equivalent barrels per
day produced in the first quarter 2004, and up slightly compared to the fourth
quarter 2004 rate of 558,000 equivalent barrels per day. Compared to a year ago,
production under the company's production sharing contracts in Oman, Qatar,
Yemen and Long Beach was negatively impacted by higher prices. The average price
for West Texas Intermediate crude oil in the first quarter 2005 was $49.84 per
barrel compared to $35.15 per barrel in the first quarter 2004. If prices had
remained at first quarter 2004 levels, production in the first quarter 2005
would have been more than 13,000 equivalent barrels per day higher.

     Earlier this year, Occidental's executive management said that it expected
to exit 2005 with a production level of approximately 600,000 equivalent barrels
per day. That expectation is unchanged.

     At the end of the first quarter, Occidental completed two acquisitions in
the Permian Basin. These acquisitions are expected to contribute 10,000
equivalent barrels per day to the 2005 production exit rate and keep the company
on track in meeting its year-end production target.

                                    Chemicals
                                    ---------

     Chemical segment earnings were $214 million for the first quarter 2005,
nearly four times higher than the $56 million earned in the first quarter 2004.
The improvement was due to higher margins in all major products resulting from
higher sales prices, partially offset by higher energy and feedstock costs.

                                    Financial
                                    ---------

     During the first quarter, $450 million of 7.65 percent senior notes were
redeemed with a related charge of $10 million to interest expense. At March 31,
Occidental's debt was $3.5 billion compared to $3.9 billion at the end of 2004.
After taking into account the $450 million in debt retirement costs and $300
million in acquisition costs, the company had cash and short-term investments of
$1.4 billion at the end of the quarter, which was approximately the same level
as the end of 2004. Stockholders' equity was $11.2 billion, up by nearly $700
million compared to year-end 2004.



Statements in this presentation that contain words such as "will," "expect" or
"estimate," or otherwise relate to the future, are forward-looking and involve
risks and uncertainties that could significantly affect expected results.
Factors that could cause results to differ materially include, but are not
limited to: exploration risks such as drilling of unsuccessful wells, global
commodity pricing fluctuations and supply/demand considerations for oil, gas and
chemicals; higher-than-expected costs; political risk; and not successfully
completing (or any material delay in) any expansion, capital expenditure,
acquisition, or disposition. Occidental disclaims any obligation to update any
forward-looking statements.


                                       2



SUMMARY OF SEGMENT NET SALES AND EARNINGS



                                                     First Quarter
                                             ---------------------
(In millions, except per-share amounts)          2005         2004(c)
========================================     ========     ========
                                                    
SEGMENT NET SALES
  Oil and Gas                                $  2,219     $  1,693
  Chemical                                      1,061          834
  Other                                            23           30
                                             --------     --------
  Net sales                                  $  3,303     $  2,557
========================================     ========     ========
SEGMENT EARNINGS 
  Oil and Gas                                $  1,349     $    915
  Chemical                                        214           56
                                             --------     --------
                                                1,563          971
Unallocated Corporate Items
  Interest expense, net (a)                       (61)         (68)
  Income taxes (b)                               (601)        (363)
  Other                                           (51)         (51)
                                             --------     --------

Income from Continuing Operations                 850          489
  Discontinued operations, net                     (4)          (2)
                                             --------     --------
NET INCOME                                   $    846     $    487
                                             ========     ========
BASIC EARNINGS PER COMMON SHARE
  Income from continuing operations          $   2.12     $   1.25
  Discontinued operations, net                   (.01)        (.01)
                                             --------     --------
                                             $   2.11     $   1.24
                                             ========     ========
DILUTED EARNINGS PER COMMON SHARE
  Income from continuing operations          $   2.09     $   1.24
  Discontinued operations, net                   (.01)        (.01)
                                             --------     --------
                                             $   2.08     $   1.23
                                             ========     ========
AVERAGE BASIC COMMON SHARES OUTSTANDING         400.4        391.5
========================================     ========     ========


See footnotes on following page.


                                       3



(a)  The first quarter 2005 includes a $10 million pre-tax interest charge to
     redeem all the outstanding 7.65 percent senior notes, which were due in
     February 2006. The first quarter 2004 includes an $11 million pre-tax
     interest charge to redeem all the outstanding 8.16 percent Trust Preferred
     Redeemable Securities.

(b)  The first quarter 2005 includes a $10 million charge, net, related to a
     state income tax issue. The first quarter 2004 includes a $20 million
     credit related to the settlement of an issue with the Internal Revenue
     Service.

(c)  As of January 1, 2005, Occidental revised its reporting of segment earnings
     to show segment earnings before income taxes. All domestic and foreign
     income tax expense is now reflected under Unallocated Corporate Items in
     the income taxes line. This reporting change has been retrospectively
     applied to prior period results.


SUMMARY OF CAPITAL EXPENDITURES AND DD&A EXPENSE



                                                First Quarter
                                        ---------------------
($ millions)                                2005         2004
===================================     ========     ========
                                               
CAPITAL EXPENDITURES                    $    536     $    343
                                        ========     ========
DEPRECIATION, DEPLETION AND
  AMORTIZATION OF ASSETS                $    344     $    324
===================================     ========     ========



                                       4



SUMMARY OF OPERATING STATISTICS




                                                First Quarter
                                        ---------------------
                                            2005         2004
===================================     ========     ========
                                               
NET OIL, GAS AND LIQUIDS
  PRODUCTION PER DAY

United States
  Crude oil and liquids (MBBL)
    California                                77           77
    Permian                                  148          153
    Horn Mountain                             18           25
    Hugoton                                    4            3
                                        --------     --------
      Total                                  247          258

  Natural Gas (MMCF)
    California                               241          243
    Hugoton                                  129          127
    Permian                                  146          140
    Horn Mountain                             12           17
                                        --------     --------
      Total                                  528          527

Latin America
  Crude oil (MBBL)
    Colombia                                  32           36
    Ecuador                                   42           43
                                        --------     --------
      Total                                   74           79

Middle East 
  Crude oil (MBBL)
    Oman                                      23           14
    Qatar                                     43           42
    Yemen                                     35           39
                                        --------     --------
      Total                                  101           95

  Natural Gas (MMCF)
    Oman                                      56           11

Other Eastern Hemisphere
  Crude oil (MBBL)
    Pakistan                                   5            9

  Natural Gas (MMCF)
    Pakistan                                  78           75

BARRELS OF OIL EQUIVALENT (MBOE)
--------------------------------
 Subtotal consolidated subsidiaries          537          543
   Colombia-minority interest                 (4)          (4)
   Russia-Occidental net interest             30           28
   Yemen-Occidental net interest               2            1
                                        --------     --------
TOTAL WORLDWIDE PRODUCTION                   565          568
===================================     ========     ========



                                       5



SIGNIFICANT TRANSACTIONS AND EVENTS AFFECTING EARNINGS

Occidental's results of operations often include the effects of significant
transactions and events affecting earnings that vary widely and unpredictably in
nature, timing and amount. Therefore, management uses a measure called "core
earnings," which excludes those items. This non-GAAP measure is not meant to
disassociate those items from management's performance, but rather is meant to
provide useful information to investors interested in comparing Occidental's
earnings performance between periods. Reported earnings are considered
representative of management's performance over the long term. Core earnings is
not considered to be an alternative to operating income in accordance with
generally accepted accounting principles.

The following table sets forth the core earnings and significant items affecting
earnings for each operating segment and corporate:



                                                                          First Quarter
($ millions, except                     -----------------------------------------------

 per-share amounts)                         2005          EPS         2004          EPS
===================================     ========     ========     ========     ========
                                                                   
TOTAL REPORTED EARNINGS                 $    846     $   2.11     $    487     $   1.24
                                        ========     ========     ========     ========
OIL AND GAS
  Segment Earnings                      $  1,349                  $    915
  Less:
    None                                      --                        --
                                        --------                  --------
  Segment Core Earnings                 $  1,349                  $    915
                                        --------                  --------
CHEMICALS
  Segment Earnings                      $    214                  $     56
  Less:
    None                                      --                        --
                                        --------                  --------
  Segment Core Earnings                 $    214                  $     56
                                        --------                  --------
CORPORATE
  Results                               $   (717)                 $   (484)
  Less:
    Trust preferred 
      redemption charge                       --                       (11)
    7.65% debt redemption charge             (10)                       --
    Settlement of tax issues                  --                        20
    State tax charge                         (10)                       --
    Tax effect of pre-tax
      adjustments                              4                         4
    Discontinued operations, net*             (4)                       (2)
                                        --------                  --------
    Corporate Core Results              $   (697)                 $   (495)
                                        --------                  --------
TOTAL CORE EARNINGS                     $    866     $   2.16     $    476     $   1.22
===================================     ========     ========     ========     ========


 * These amounts are shown after-tax.


                                       6



ITEMS AFFECTING COMPARABILITY OF CORE EARNINGS BETWEEN PERIODS

The item(s) below are included in core earnings but are shown in this table
because they affect the comparability of core earnings between periods.




                                                First Quarter
                                        ---------------------
($ millions)                                2005         2004
===================================     ========     ========
                                               
PRE-TAX
INCOME / (EXPENSE)

Corporate
  Environmental remediation                   (9)          --



                                       7



                                    SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                              OCCIDENTAL PETROLEUM CORPORATION
                                        (Registrant)



DATE: April 26, 2005          S. P. Dominick, Jr.
                              --------------------------------------------------
                              S. P. Dominick, Jr., Vice President and Controller
                              (Chief Accounting and Duly Authorized Officer)



                                  EXHIBIT INDEX


     99.1      Press release dated April 26, 2005.

     99.2      Full text of speeches given by Dr. Ray R. Irani and Stephen I.
               Chazen

     99.3      Investor Relations Supplemental Schedules