Occidental's $10B Shakeup: Petrochemical Division on the Block
Update: 2025-09-29
Description
Occidental Petroleum may sell its petrochemical division, OxyChem, for $10 billion, creating a major independent petrochemicals company. This move follows Occidental's debt from acquiring Anadarko in 2019 and aims to reshape the company amidst fluctuating oil prices and growing petrochemical demand. Investors are keenly observing, as Occidental's stock has recently declined, awaiting the outcome and its impact on the company's future.
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