Berkshire is in talks to buy Occidental's chemicals business for $10 billion. A deal would come as a surprise for markets, analysts say. ...

Berkshire Hathaway is in talks to buy Occidental Petroleum's petrochemical unit for about $10 billion, the Wall Street Journal reported on Tuesday citing people familiar with the matter. ...

Warren Buffett’s Berkshire Hathaway is in talks to buy Occidental Petroleum’s petrochemical business for around $10 billion, according to The Wall Street Journal https://t.co/u6celyPPZQ ...

Warren Buffett's sprawling conglomerate could unveil its largest deal in years in the coming days. ...

Petro Rabigh shareholders approve SAR 5.26 bln capital hike Rabigh Refining and Petrochemical Co. shareholders approved, during the extraordinary general meeting (EGM) held on Sept. 29, the board's recommendation to increase capital by 31.5% (SAR 5.26 billion) and allocate to founding shareholders Saudi Arabian Oil Company (Saudi Aramco) and Sumitomo Chemical Company Ltd.   For More IPOs   According to a statement to Tadawul, a part of the proceeds will go to repay phase two project facilities and bridge l ...

Asia is poised to spearhead the global polyethylene terephthalate (PET) capacity additions by 2030, mainly due to its escalating demand for PET from various end-use application segments such as packaging, fabrics and textile industries. Moreover, the region benefits from favourable raw material availability and low labour costs, making it cost-effective for mass PET production. Asia is anticipated to add a PET production capacity of 6.40 million tonnes per annum (mtpa) during 2025 to 2030 from three pla ...

Core Viewpoint - Occidental Petroleum is in discussions to sell its petrochemicals division, OxyChem, potentially valued at up to $10 billion, which would result in one of the largest independent petrochemicals companies globally [1][2]. Group 1: Divestment and Financials - The divestment talks could conclude within weeks, although there is a possibility of complications arising [2]. - Occidental has been selling off assets to reduce its debt, which currently stands at approximately $24 billion, down from $48.75 billion in September 2019 after acquiring Anadarko for $55 billion [3]. - The company’s debt increased again in 2023 following the $12 billion acquisition of CrownRock [3]. Group 2: Production and Market Position - Occidental was recognized as one of the top 10 shale operators, with a daily production of 1.22 million barrels of oil equivalent, ranking third behind Exxon and Expand Energy [4]. - For the current year, Occidental aims for an average daily production of 1.422 million barrels, although lower international oil prices have negatively impacted earnings [5]. - The stock price has decreased by 8% over the past year and 4.5% year-to-date, reflecting the challenges posed by international oil prices [5]. Group 3: Petrochemicals Industry Outlook - The petrochemicals division generated nearly $5 billion in revenue over the 12 months leading to June [6]. - The petrochemicals sector is increasingly becoming a focal point for the oil industry, with expectations that it will drive overall oil demand growth in the future [6].

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 https://t.co/obalJu4bxB ...

Core Insights - ClearSign Technologies Corporation has received an order for a comprehensive range of process burner testing from a major petrochemical customer, indicating strong demand for its advanced combustion technologies [1] Company Summary - ClearSign Technologies Corporation specializes in advanced combustion and sensing technologies aimed at reducing emissions, increasing efficiency and safety, and supporting cleaner fuel usage, including hydrogen [1] - The order from the petrochemical client reflects the company's capability and reputation in the industry, as noted by Jim Deller, Ph.D., who expressed encouragement regarding the extensive range of testing requested [1]

Summary of Investor Presentation on Chemicals Industry Industry Overview - The chemicals industry is undergoing a significant restructuring wave across Asia, particularly affecting petrochemical majors and electronic chemicals [1][3][6] Key Insights on Petrochemical Majors - **Industry View**: Attractive - **Demand and Utilization**: Continued weak demand for petrochemicals and low ethylene utilization rates are expected. However, there are signs of improvement in the overall mood, influenced by China's anti-involution policies and naphtha cracker downsizing in South Korea [6] - **Price Trends**: Asia's petrochemical prices and spreads are unlikely to decline further but may lack recovery momentum [6] - **Investment Indicators**: Remain low, with shares generally viewed as undervalued [6] - **Recommended Stocks**: - **Sumitomo Chemical (4005)**: Focused on growth in agrochemicals and IT sectors, with a V-shaped recovery in pharmaceutical earnings. Current price: ¥482, target price: ¥760 [9][12] - **Asahi Kasei (3407)**: Current price: ¥1,196, target price: ¥1,450 [9][12] - **Mitsui Chemicals (4183)**: Current price: ¥3,719, target price: ¥4,500 [9][12] Insights on Electronic Chemicals - **Industry View**: In-line - **Demand Recovery**: Gradual recovery in demand for legacy semiconductors alongside the expansion of AI semiconductors. Silicon wafer recovery continues, particularly for 300mm wafers [6] - **Stock Recommendations**: - **ZEON (4205)**: Current price: ¥1,700, target price: ¥2,000 [9][12] - **Shin-Etsu Chemical (4063)**: Current price: ¥4,545, target price: ¥5,500 [9][12] Insights on Fine Chemicals - **Industry View**: In-line - **Revenue Improvement**: Significant revenue growth in carbon fiber composite materials due to recovery in aircraft applications. **Toray (3402)** is highlighted as a top pick [6] - **Stock Recommendations**: - **Toray (3402)**: Current price: ¥970, target price: ¥1,350 [9][12] - **DIC (4631)**: Current price: ¥3,589, target price: ¥3,500 [9][12] Additional Observations - **Investment Appeal**: The overall investment appeal in the chemicals sector is driven by specific company strategies and market conditions, with a focus on undervalued stocks and sectors poised for growth [6][12] - **Market Metrics**: The report includes various financial metrics such as P/E ratios, P/CF ratios, and EV/EBITDA ratios for the recommended stocks, indicating a comprehensive analysis of the market landscape [12] Conclusion - The chemicals industry in Asia is positioned for restructuring, with specific companies showing strong potential for growth and recovery. Investors are encouraged to consider the recommended stocks based on their strategic focus and market conditions [6][12]