Core Points - Occidental Petroleum (OXY.US) experienced a short-term decline of nearly 5%, trading at $45.4. This drop follows the announcement that Berkshire Hathaway will acquire Occidental's chemical business, OxyChem, for $9.7 billion, marking Berkshire's largest acquisition since 2022 [1] - Occidental plans to use the $6.5 billion proceeds from the transaction to pay down debt, aiming to reduce its primary debt to below $15 billion [1] Group 1 - Occidental Petroleum's stock price fell nearly 5% to $45.4 following the acquisition announcement [1] - Berkshire Hathaway's acquisition of OxyChem for $9.7 billion is the largest since 2022 [1] - Occidental intends to utilize $6.5 billion from the sale to lower its debt [1] Group 2 - The goal of Occidental is to reduce its primary debt to below $15 billion [1]