1. Occidental Petroleum is negotiating to sell its OxyChem division for over $10 billion, a strategic move to address its debt burden amid cyclical challenges in the chemical industry; 2. The sale could reduce OXY's principal debt below its $15 billion target, significantly strengthening its balance sheet; 3. While the transaction would position Occidental as a pure-play energy exploration company and boost shareholder returns, investors must consider the long-term opportunity cost of divesting a stable business segment.