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OxyChem earnings down on caustic prices

11:46 AM MDT | May 6, 2014 | Clay Boswell

OxyChem, the chemical segment of Occidental Petroleum, has reported earnings for the first quarter of $136 million, down 14% year-on-year. The company attributes the decrease to lower caustic soda prices driven by new chlor-alkali capacity. However, the company says higher polyvinyl chloride and vinyl chloride margins, resulting from improvement in US construction markets, and higher volumes across all products offset most of the decline.

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