Occidental Petroleum Corp. reported a first-quarter loss...

Occidental Petroleum Corp. reported a first-quarter loss of $40 million, blaming depressed prices for crude oil and chemicals.

The loss, the equivalent of 19 cents per share, compared to a profit of $80 million, or 25 cents per share, during the first quarter of 1993. Sales fell from $2.2 billion to $2.1 billion.

Earnings from the Los Angeles company’s oil and gas division fell from $53 million to $4 million, with substantially lower crude oil prices partially offset by higher domestic gas prices and international oil volumes.