All articles tagged with #occidental petroleum
Buffett’s Berkshire Hathaway has built roughly $58 billion in oil-and-gas bets—Chevron (~$21B), Occidental (~$12B), plus Dominion Energy assets, Cove Point LNG, and OxyChem—reflecting a long-term conviction that fossil fuels stay essential; with oil rebounding, these positions are beginning to pay off, even as Buffett steps back from the CEO role.
The article highlights two top Warren Buffett stocks to buy now: Visa, a global payments leader benefiting from network effects and innovation, and Occidental Petroleum, which is strengthening its position through a major deal to boost oil and gas production, with Berkshire Hathaway holding a significant stake in both.
Warren Buffett's Berkshire Hathaway has invested nearly $10 billion in Occidental Petroleum by acquiring its chemical unit, OxyChem, to help reduce the company's debt and focus on core oil and gas operations. Despite recent stock declines and sector challenges, Occidental aims to strengthen its financial health through asset sales and debt repayment, with analysts suggesting moderate upside potential for OXY stock.
Berkshire Hathaway's nearly $10 billion purchase of Occidental's chemicals business is seen as a strategic, win-win move that could be Buffett's final major deal, boosting Berkshire's stake and helping Oxy reduce debt, while potentially signaling the end of Buffett's active dealmaking before his retirement.
Occidental Petroleum is selling its chemicals division, OxyChem, to Berkshire Hathaway for $9.7 billion to reduce debt following costly acquisitions, with plans to use most of the proceeds to lower its debt below $15 billion and refocus on its core oil and gas business.
Warren Buffett's Berkshire Hathaway made a $9.7 billion all-cash acquisition of OxyChem from Occidental Petroleum, which also owns a 27% stake in Occidental. The deal aims to strengthen Occidental's balance sheet, reduce debt, and enable share buybacks, while Buffett's involvement signals confidence in the deal's strategic value. Stock prices of Occidental and Berkshire reacted modestly to the news, with some analyst adjustments.
Berkshire Hathaway is set to acquire Occidental Petroleum’s chemical division, OxyChem, for $9.7 billion in an all-cash deal, expected to close in Q4 2025. This is Berkshire's largest deal since 2022 and aims to strengthen Occidental's financial position as it reduces debt. Occidental's stock fell 6% following the announcement, while Berkshire's shares declined slightly.
Berkshire Hathaway announced the acquisition of Occidental Petroleum's petrochemical unit OxyChem for $9.7 billion, marking its largest deal in three years, with Buffett indicating a leadership transition to Greg Abel while maintaining Buffett's role as chairman.
Berkshire Hathaway is acquiring Occidental Petroleum's petrochemical unit, OxyChem, for $9.7 billion in cash, marking Berkshire's largest purchase since 2022, with the deal expected to close in Q4 and proceeds used by Occidental to reduce debt.
Berkshire Hathaway is acquiring Occidental Petroleum's petrochemical unit, OxyChem, for $9.7 billion, marking its largest deal since 2022, with the company planning to use part of the proceeds to reduce debt and support stock buybacks, while maintaining its significant stake in Occidental.
Berkshire Hathaway is in talks to acquire Occidental Petroleum's petrochemical business for $10 billion, a move that could benefit Buffett by acquiring a depressed but potentially growing asset at a reasonable price, while helping Occidental reduce its substantial debt load.
Berkshire Hathaway is in talks to acquire Occidental Petroleum's petrochemical business for about $10 billion, marking its largest deal since 2022, as Warren Buffett's firm re-engages in major acquisitions with a substantial cash reserve.
Berkshire Hathaway, led by Warren Buffett, is close to a $10 billion deal to acquire Occidental Petroleum's petrochemical unit, highlighting a significant investment in the energy sector.
Warren Buffett's Berkshire Hathaway is close to acquiring Occidental Petroleum's petrochemical unit OxyChem for around $10 billion, potentially its largest deal since 2022, with Buffett stepping down as CEO at the end of 2025 but remaining as chairman.
Occidental Petroleum is in negotiations to sell its OxyChem chemical unit for approximately $10 billion, as part of its strategic business moves.