Workflow
Warren Buffett Just Give Occidental Petroleum a HUGE $10 Billion Boost. Should You Buy OXY Stock Here?
Yahoo Finance·2025-10-03 20:11

Occidental Petroleum (OXY) has officially sealed its biggest divestment yet, selling its chemical unit OxyChem to Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) for $9.7 billion. The move is not just a headline-making M&A story; it’s a turning point in Occidental’s multi-year effort to clean up its debt-heavy balance sheet after blockbuster acquisitions. Occidental said it will apply $6.5 billion of the proceeds directly toward debt reduction, taking principal debt below the $15 billion target set af ...