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OXY OIL AND GAS USA INC. SUBSIDIARY OF OCCIDENTAL PETROLEUM CORP. TO REDEEM TWO DEBT ISSUES PRIOR TO STATED MATURITY

 LOS ANGELES, July 23 /PRNewswire/ -- Occidental Petroleum Corp. announced today that its OXY Oil and Gas USA Inc. (formerly "Cities Service Co.") subsidiary will redeem on Aug. 23, 1993, all of its outstanding $33,213,000 principal amount 7.65 Percent Debentures due 2001, at a redemption price of 100.92 percent of the principal amount thereof, together with accrued interest. In addition, on Oct. 1, 1993, OXY Oil & Gas USA will call for redemption all of its outstanding $38,293,000 principal amount 9 3/4 percent Sinking Fund Debentures due 2000; $20,000,000 of such redemption will be through mandatory and optional sinking fund payments at par, while the balance of $18,293,000 will be through a call at a redemption price of 100.98 percent.
 Payment of the redemption price for the 7.65 Percent Debentures and the 9 3/4 Percent Debentures will be made on or after the respective redemption dates, upon delivery of the debentures to Morgan Guaranty Trust Company of New York, as trustee, in New York City. Notice of the redemptions and the sinking fund payments, and instructions for delivery of the debentures, will be mailed to all registered holders.
 -0- 7/23/93
 /CONTACT: Howard Collins (media), 310-443-6523, or Kenneth J. Huffman (investors), 212-603-8183, both of Occidental/


CO: Occidental Petroleum Corp.; OXY Oil and Gas USA Inc. ST: California IN: OIL SU:

EH-BP -- LA012 -- 5145 07/23/93 12:14 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
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