LOS ANGELES, Oct. 25, 2007 (PRIME NEWSWIRE) -- Occidental Petroleum Corporation (NYSE:OXY) announced today that it is sponsoring a challenge grant to assist the American Red Cross of Greater Los Angeles to raise $200,000 to aid the victims of the California wildfires as well as year-round local disaster relief efforts. Oxy has pledged to contribute to the American Red Cross Disaster Relief Fund a total of $50,000 -- matching one dollar for every three dollars raised for this fund and the American Red Cross of Greater Los Angeles Local Disaster Relief Fund -- to reach the $200,000 goal.
In announcing the contribution, Dr. Ray R. Irani, Chairman, President and Chief Executive Officer said, "We are deeply concerned with the toll the fires have taken on communities here in Southern California. With this grant, we hope to support wildfire relief efforts, and to provide assistance in times of other disasters."
About Oxy
Occidental Petroleum Corporation is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Oxy is the fourth largest U.S. oil and gas company, based on equity market capitalization. Oxy's wholly owned subsidiary, OxyChem, manufactures and markets chlor-alkali products and vinyls. Occidental is committed to safeguarding the environment, protecting the safety and health of employees and neighboring communities and upholding high standards of social responsibility in all of the company's worldwide operations.