Occidental Petroleum gains after report to sell OxyChem unit for at least $10 billion

ReutersSep 29, 2025 10:05 AM

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Shares of shale producer Occidental Petroleum OXY.N rise 1.2% to $48.04 premarket

OXY is negotiating the sale of its OxyChem division, a transaction that could value the unit at minimum of $10 billion, the Financial Times reported on Sunday, citing two people familiar with the matter

Divestment likely to be announced in the coming weeks, provided it does not hit any last-minute hurdles, the report added

As of last close, OXY shares down 3.9% YTD

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