Lyondell to get most of Equistar. (In Brief).Lyondell Chemical Co., Houston Houston, city (1990 pop. 1,630,553), seat of Harris co., SE Tex., a deepwater port on the Houston Ship Channel; inc. 1837. Economy The fourth largest city in the nation and the largest in the entire South and Southwest, Houston is a port of entry; , has agreed to acquire the 29.5% of Equistar Chemicals, LP, that is owned by Occidental Petroleum Occidental Petroleum Corporation ("Oxy") NYSE: OXY is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Corp. This will raise Lyondell's stake from 41% to 70.5%. The remaining 29.5% is owned by Millennium Chemicals Millennium Chemicals Inc is a U.S. based chemical company. The business was established in 1985. It was a subsidiary of British conglomerate Hanson plc at one time, but was demerged on 1 October 1996, when it became an independent listed company. Inc. Houston-based Equistar is one of the country's largest producers of polyolefins. |
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