1PointFive

Occidental Petroleum in talks to sell OxyChem unit for at least $10 billion

September 29, 2025

(World Oil) – Occidental Petroleum Corp. is in talks to sell its OxyChem petrochemical unit in a deal worth at least $10 billion, the Financial Times reported Sunday. The divestment would be the U.S. company’s biggest yet and would create one of the world’s largest standalone petrochemical companies, according to the FT, which cited two people familiar with the matter

Oxy and ADNOC’s investment firm to explore carbon capture solutions in Texas

May 19, 2025

(World Oil) – Occidental and its subsidiary 1PointFive today announced an agreement with XRG, ADNOC’s investment company, to evaluate a potential joint venture to develop a Direct Air Capture (DAC) facility in South Texas. As part of the joint venture, XRG will consider investing up to $500 million for the development of a DAC facility designed to capture 500,000 tonnes

Occidental Petroleum in talks to sell OxyChem unit for at least $10 billion

Oxy and ADNOC’s investment firm to explore carbon capture solutions in Texas

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