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Buffett’s Berkshire owns 19.2% of Occidental Petroleum after new purchases
2022.07.14 02:35
FILE PHOTO: Equipment used to process carbon dioxide, crude oil and water is seen at an Occidental Petroleum Corp enhanced oil recovery project in Hobbs, New Mexico, U.S. on May 3, 2017. REUTERS/Ernest Scheyder
(Reuters) – Berkshire Hathaway (NYSE:BRKa) Inc, run by Warren Buffett, said it has this week purchased another 4.3 million shares of Occidental Petroleum Corp (NYSE:OXY), giving it a 19.2% stake in the oil company.
In a U.S. Securities and Exchange Commission filing on Wednesday, Berkshire said it spent about $250 million on the additional shares, giving it ownership of about 179.4 million Occidental common shares worth approximately $10.4 billion.
