Here’s Why Warren Buffett Loves Oil Giant Occidental Petroleum

Berkshire won FERC approval to buy up to 50% of the stock
Full takeover of Occidental could be Berkshire’s biggest ever

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By Kevin Crowley

August 19, 2022 at 10:47 PM UTC

This article is for subscribers only.

Famed investor Warren Buffett is steadily snowballing a stake in Occidental Petroleum Corp. in what could end up being his biggest-ever acquisition. His Berkshire Hathaway Inc. on Friday won approval to buy as much as 50% of the shares. Some investors believe it’s a step toward a full takeover, which may end up costing more than $50 billion.

Here’s why Occidental is attractive to Berkshire: