Occidental Petroleum Reacts to Potential OxyChem Divestment

27 days ago

Paul Sweeney and team

"Lastly, I want to take a look at Occidental Petroleum. That's ticker OXY here. Also in talks to sell its OxyChem petrochemical unit. The deal is worth at least $10 billion. That's according to a report from the Financial Times this past Sunday. So you are seeing shares of Occidental Petroleum hitting their highest level since April."

Occidental Petroleum (OXY) is in discussions to sell its OxyChem unit in a deal valued at over $10 billion, a potential catalyst that has pushed the stock to its highest levels since April. The optimism surrounding this divestment highlights evolving corporate strategy in the petrochemical space.

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