An investigation on behalf of current long term investors in Occidental Petroleum Corporation (NYSE:OXY) concerning breaches of fiduciary duty related to the historical and potential compensation that was awarded certain senior officers of Occidental Petroleum Corp was announced.

Occidental Petroleum Corporation, located in Los Angeles, California, conducts its operations, through various oil and gas, chemical, midstream, marketing and other subsidiaries, and affiliates.

According to the investigation by a law firm the investigation on behalf of current long term investors in Occidental Petroleum Corp. (OXY) stock focuses on possible shareholder claims that certain of Occidental Petroleums senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation in past years.

Occidental Petroleum Corporation reported in 2007 Total Revenue of $20.013billion, in 2008 $24.48billion, but in 2009 $15.531billion.

Certain senior officers at Occidental Petroleum Corp. (NYSE:OXY), were awarded salaries, bonuses, stock options and other forms of long-term, incentive or retirement compensation that were, so the investigation, excessive or unwarranted based on the Occidental Petroleums performance as compared to what senior officers at comparable companies were making and/or results that were fraudulent, misleading or not long-lasting. The investigation by the law firm is also investigating claims that the prior compensation awarded at Occidental Petroleum Corp is now clearly improper based upon its current operating condition. Finally the investigation focuses also on possible shareholder claims that would allow Occidental Petroleum Corporation (OXY) stockholders to influence or control future compensation decisions at Occidental Petroleum. Shares of Occidental Petroleum Corporation (OXY) traded recently at $77.00 per share, but were down from its 52weekHigh of $90.99 per share, and almost $95 per share in 2008.