What was the primary event disclosed in this 8-K filing?

The primary event disclosed is Occidental Petroleum's sale of 6,990,070 shares of Lyondell Chemical Company stock and its stated intention to sell its remaining stake in the company.

Why is this sale significant for Occidental Petroleum (OXY) investors?

This sale is significant as it indicates a strategic decision by Occidental Petroleum to exit its investment in Lyondell Chemical Company, which could free up capital for other business initiatives or shareholder returns.

When did the sale of Lyondell shares occur?

The private transaction for the sale of 6,990,070 shares of Lyondell Chemical Company stock settled on Wednesday, May 9, 2007.

Does Occidental Petroleum plan to sell all of its Lyondell Chemical shares?

Yes, the press release attached to the filing explicitly states Occidental Petroleum's intention to dispose of its remaining interest in the common stock of Lyondell Chemical Company.

OXY/OXY-WT 8-K: Regulation FD

Summary

Occidental Petroleum Corporation (OXY) has announced the sale of a significant portion of its stake in Lyondell Chemical Company. On May 9, 2007, OXY completed a private transaction to sell 6,990,070 shares of Lyondell common stock. This move signals a strategic shift for Occidental, indicating its intention to divest its entire remaining interest in Lyondell Chemical Company.

Key Highlights

1Occidental Petroleum (OXY) sold 6,990,070 shares of Lyondell Chemical Company stock on May 9, 2007.
2The sale was conducted as a private transaction.
3OXY has publicly stated its intention to dispose of all remaining shares in Lyondell Chemical Company.
4This filing is an 8-K report, indicating a material event disclosure.
5The company is signaling a strategic exit from its investment in Lyondell Chemical.

OCCIDENTAL PETROLEUM CORP /DE/ 8-K Report, Regulation FD Disclosure (May 11, 2007)

Summary

Key Highlights

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