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Bond Market News
Occidental in Talks to Sell OxyChem Unit for a Potential $10bn Deal; Bonds Inch Higher
September 30, 2025
Occidental Petroleum (Oxy) is said to be in talks to sell its OxyChem petrochemical unit. The deal value is estimated to be at least $10bn, as per the FT. As per sources, the FT noted this would make it Oxy’s biggest divestment yet and would create one of the world’s largest standalone petrochemical companies. However details of the potential buyer were not available. Oxy, which had concluded a ~$55bn acquisition of Anadarko Petroleum in 2019 and a $12bn acquisition of CrownRock in 2023, has been undertaking a debt reduction exercise ever since by divesting assets. As per Bloomberg Intelligence, Oxy has a diverse international footprint in oil and gas, adding that its onshore assets are still expected to provide most of its profit and free cash flow.
Oxy’s 6.45% 2036s were up by 1.2 points to trade at 106.3, yielding 5.7%.
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