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Oxy/Mexichem’s joint venture Ingleside cracker to start up in 1Q
HOUSTON, August 3, 2016 (PCW) -– Occidental Petroleum on Wednesday said its joint-venture ethylene plant at Ingleside, Texas, in on track to begin service in the first quarter of next year.
The unit will have a production capacity of 1.2 billion lbs/yr.
Occidental also reported a net loss of $139 million in the second quarter, compared to net income of $176 million during the same period a year ago. The loss was due to lower commodity prices. The company’s chemical segment reported 2Q earnings of $88 million, compared to $136 million in 2Q 2015, which was due to lower chlorovinyl production volumes from scheduled outages and lower demand for calcium chloride. -- Samantha Hartke