Occidental Petroleum in Talks to Sell Petrochemical Unit

27 days ago

Tom Keen/Paul Sweeney

"Occidental, backed by Warren Buffett, is in talks to sell its petrochemical unit in a deal worth at least $10 billion, potentially creating one of the world6#39;s largest standalone petrochemical companies."

Occidental Petroleum (OXY) is reportedly in discussions to divest its petrochemical unit for a deal worth $10 billion. This strategic asset sale, aimed at restructuring the company and reducing debt, has nudged shares up modestly by about 1.5%, marking a cautious yet positive development.

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