OXY(US:OXY) Qian Zhan Wang·2025-10-06 01:55Group 1 - Berkshire Hathaway is in talks to acquire Occidental Petroleum's chemical business OxyChem for approximately $10 billion, which would be its largest acquisition since 2022 and could be finalized within days [2] - Berkshire currently holds a 28% stake in Occidental Petroleum, making it the largest shareholder, with a market value of nearly $13 billion. Occidental's oil and gas business generated approximately $22 billion in revenue last year [2] - Warren Buffett expressed confidence in Occidental's management, particularly CEO Vicki Hollub, after reviewing the company's fourth-quarter earnings report [2] Group 2 - The global oil exploration sector has stagnated, with only a 2.81% increase in proven oil reserves from 2012 to 2020, reaching 173.24 billion barrels according to BP's World Energy Statistics Yearbook 2021 [3] - The oil industry is currently experiencing a supply surplus, with the IEA warning of a record oversupply in the global oil market by 2026. Factors contributing to this include slowing growth in emerging markets, accelerated energy transition, and the proliferation of efficient technologies [4]