OCCIDENTAL PETROLEUM CORPORATION. By: ----------------------------------------
OCCIDENTAL PETROLEUM CORPORATION. By: ----------------------------------------- Title: Attest: ----------------------------------------- Title:
OCCIDENTAL PETROLEUM CORPORATION. By: ---------------------------------------- Title: Attest: ---------------------------------------- ABBREVIATIONS The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations:
OCCIDENTAL PETROLEUM CORPORATION. By ------------------------------ -------------------------------- 2001 INCENTIVE COMPENSATION PLAN 2002 GRANT TO OPC/OXY INC. PARTICIPANTS (% of Number of Target Shares of Performance Stock that become Nonforfeitable based on Comparison of Total Shareholder Return for the Peer Companies for the Performance Period)
OCCIDENTAL PETROLEUM CORPORATION. (The Seller)
OCCIDENTAL PETROLEUM CORPORATION. As of December 31, 2010, a subsidiary of Occidental Petroleum Corporation (“Oxy”) owned approximately 35% of our general partner interest and had a representative on the board of directors of Plains All American GP LLC. During the three years ended December 31, 2010, we received sales and transportation storage revenues and purchased petroleum products from companies associated with Oxy, as detailed below (in millions): Total revenues $ 2,189 $ 181 $ 159 Purchases and related costs $ 221 $ 164 $ 224 We currently have a netting arrangement with Oxy. Our gross receivable and payable amounts with affiliates of Oxy were as follows (in millions): Trade accounts receivable and other receivables, net $ 379 $ 82 Accounts payable $ 124 $ 103 Natural Gas Storage Investment In September 2005, we and Vulcan Gas Storage LLC, a subsidiary of Vulcan LLC, an investment arm of Xxxx X. Xxxxx, formed PAA/Vulcan to acquire ECI (subsequently known as PAA Natural Gas Storage, LLC or “PNGS”), an indirect subsidiary of Sempra Energy, for approximately $250 million. We and Vulcan Gas Storage each made an initial cash investment of approximately $113 million and Bluewater Natural Gas Storage, LLC, a subsidiary of PAA/Vulcan, entered into a $90 million credit facility contemporaneously with closing. From September 2005 until September 3, 2009, we owned 50% of PAA/Vulcan and Vulcan Gas Storage LLC owned the other 50%. Giving effect to all contributions and distributions made during the period from January 1, 2007 through September 3, 2009, we and Vulcan Gas Storage each made a net contribution of $39 million. Such contributions and distributions did not result in an increase or decrease to our ownership interest. On September 3, 2009, one of our subsidiaries acquired the remaining 50% interest in PAA/Vulcan from Vulcan Gas Storage LLC, which resulted in our ownership of a 100% interest in PNGS. See Note 3 for further discussion of the PNGS Acquisition.
