MOSCOW (MRC) -- Occidental (Oxy; Houston, Texas) says its chemical segment, OxyChem, turned in third-quarter pre-tax income of USD178 million, down 14% year-over-year (YOY) from USD207 million, and up 65% sequentially from the second quarter’s USD108 million, according to Chemweek.
Revenue totaled USD937 million, down 13% YOY from USD1.071 billion, and up 11% sequentially from USD846 million.
Oxy attributes the sequential gain in chemical pre-tax income to improved pricing for caustic soda and polyvinyl chloride (PVC) as well as higher chlorovinyl sales volume.
OxyChem is one of the largest producers of chlorovinyls and caustic soda in the world.
As MRC reported previously, OxyChem, the chemical division of Occidental Petroleum, conducted a seven-day turnaround at its PVC plant in Pasadena, Texas, USA, in April, 2020. This plant's production capacity is 1 million mt/year.
According to MRC's ScanPlast report, Russia's overall production of unmixed PVC totalled 805,100 tonnes in January-October 2020, which corresponds to the last year's figure. At the same time, two producers managed to increase their PVC output.
Occidental Petroleum Corporation (OxyChem) is a California-based oil and gas exploration and production company with operations in the United States, the Middle East, North Africa, and South America. Oxychem is Oxy"s Texas-based subsidiary which manufacture polyvinyl chloride (PVC) resins, chlorine and caustic soda used in plastics, pharmaceuticals and water treatment chemicals.
MRC