Occidental Weighs a $10 Billion Sale of Its Petrochemicals Division ...Middle East

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Occidental Weighs a $10 Billion Sale of Its Petrochemicals Division
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Occidental Petroleum is reportedly in talks to divest its petrochemicals division, OxyChem, in a deal that could be worth up to $10 billion and would create one of the largest independent petrochemicals companies in the world. The Financial Times wrote, citing unnamed sources in the know, that the deal could be wrapped up within a few weeks unless it hits a snag at the last moment, with the sources saying the talks could still fall through. “The identity of the buyer could not immediately be established,” the FT also noted. Oxy has…

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