Occidental Petroleum is negotiating the sale of its OxyChem division, a transaction that could value the unit at a minimum of $10 billion, the Financial Times reported on Sunday.
The divestment was likely to be announced in the coming weeks, provided it does not hit any last-minute hurdles, the report said, citing two people familiar with the matter.
Reuters could not immediately verify the report. Occidental Petroleum did not immediately respond to a Reuters’ request for comment.
Source: Reuters.com