Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. Its Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene. The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also trades around its assets consisting of transportation and storage capacity; and invests in entities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.

Occidental Petroleum Corporation

Warren Buffett has long held Occidental Petroleum (OXY -7.16%) and its CEO, Vicki Hollub, in high regard. His trust in Hollub led Buffett's company to invest heavily in Occidental.

This Top Warren Buffett Stock Is Making a Game-Changing Deal

Occidental Petroleum benefits from Berkshire Hathaway's $9.7B OxyChem deal, enabling significant debt reduction and a sharper oil and gas focus. OXY will use proceeds to repay $6.5B in long-term debt, lowering interest expenses and achieving its sub-$15B debt target to accelerate shareholder returns. Despite weaker oil prices, OXY maintains stable quarterly financials, and a leaner balance sheet positions the company for upside if energy prices rebound.

Occidental Petroleum: Berkshire's Deal For OxyChem Is A Win-Win

Berkshire's $9.7 billion buy of Occidental's petrochemicals business will allow the company to reduce debt and focus on fossil fuels.

Warren Buffett's Berkshire Comes to the Aid of Occidental Petroleum—Again

Occidental Petroleum will be in a better position to invest in its core oil and gas business after divesting a chemicals unit and will be able to replace the lost cash flow from the division in about two and a half years, CEO Vicki Hollub told Reuters in an interview on Thursday.

Occidental CEO says chemical divestiture will improve core oil, gas business

Shares of a data analytics firm took off after the company said it would provide its consumer credit scores directly to firms that give credit reports to mortgage lenders. The move pressured the credit bureaus that also evaluate potential borrowers.

S&P 500 Gains & Losses Today: Buffett's Berkshire Buys; Fair Isaac Soars, Equifax Falls

Warren Buffett's Berkshire Hathaway will acquire Occidental Petroleum's OxyChem chemicals arm for $9.7 billion. Berkshire is Occidental's largest shareholder.

Berkshire Hathaway to buy Occidental Petroleum's chemicals arm for $9.7B

Just before Warren Buffett retires as the CEO of Berkshire Hathaway (BRK.A -0.32%) (BRK.B -0.35%) later this year, the company has struck its biggest deal in three years. On Oct. 2, Berkshire Hathaway announced an agreement to acquire Occidental Petroleum's (OXY -6.94%) chemical unit, OxyChem, for $9.7 billion in an all-cash deal.

Does Buffett's Latest $9.7 Billion Deal Create a Buying Opportunity for Occidental and Berkshire Stock?

Warren Buffett's Berkshire Hathaway announced Thursday it reached a deal to buy Occidental Petroleum's petrochemical unit, OxyChem, for $9.7 billion in cash. Occidental CEO Vicki Hollub explains what the company plans to do with the money.

Occidental Petroleum CEO on Berkshire Hathaway buying OxyChem for $9.7 billion

CNBC's “Money Movers” team discusses Berkshire Hathaway's decision to buy Occidental Petroleum's petrochemical unit, OxyChem, for $9.7 billion in cash with Leo Mariani, senior research analyst at Roth Capital Partners. The deal marks Berkshire's largest since 2022.

What to know about Berkshire's $9.7 billion deal to buy OxyChem, Buffett's biggest deal since 2022

Berkshire Hathaway (BRK-B, BRK-A) will buy Occidental Petroleum's (OXY) pretrochemical business in a $9.7 billion deal. Yahoo Finance Head of News Myles Udland outlines the takeaways of the deal, specifically in the context of Berkshire CEO Warren Buffett's upcoming retirement.

Berkshire Hathaway to buy Occidental's petrochemical business in all-cash deal worth $9.7 billion

Occidental Petroleum Corp (NYSE:OXY) is near the bottom of the New York Stock Exchange (NYSE) today, after Warren Buffet's Berkshire Hathaway (BRK) shook up Wall Street with a $9.7 billion all-cash deal to buy OxyChem , the company's chemical business.

How Are Options Traders Reacting to Berkshire's Latest Buy?

Morning Brief host Allie Canal reports the latest financial news for October 2, 2025. The US government's shutdown continues into its second day.

Trump threatens cuts to US agencies amid shutdown, Berkshire to acquire OxyChem for $9.7 billion

Warren Buffett's Berkshire Hathaway Inc. will buy Occidental Petroleum Corp.'s petrochemical business for about $9.7 billion in cash in a transaction expected to close in the fourth quarter. Matthew Palazola of Bloomberg Intelligence has the details.

Berkshire Buying Occidental's Chemical Unit in $9.7 Billion Deal

Vicki Hollub, Occidental Petroleum CEO, joins 'Squawk Box' to discuss Berkshire Hathaway's $9.7 billion deal to acquire the company's chemical business OxyChem, what the company plans to do with $9.7B in cash, state of the oil industry, and more.

Occidental Petroleum CEO: $9.7B Berkshire-OxyChem deal brings forward value to our shareholders

Warren Buffett may be signing off as CEO, but not before inking his largest deal in years. Berkshire Hathaway Inc (NYSE:BRK.A) is buying Occidental Petroleum Corp's (NYSE:OXY) chemical unit, OxyChem, for $9.7 billion in cash, a move that gives Buffett one last marquee acquisition before handing the reins to Greg Abel in January.

Buffett's Big Finish? Berkshire Hathaway strikes $9.7bn deal for OxyChem

CNBC's Becky Quick reports on the latest news.

Berkshire Hathaway to buy Occidental's OxyChem for $9.7 billion

Berkshire will acquire the chemical business in an all-cash transaction.

Berkshire Hathaway to Acquire OxyChem From Occidental for $9.7 Billion

HOUSTON, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) announced today that its Board of Directors has promoted Richard A. Jackson to Senior Vice President and Chief Operating Officer, overseeing global oil and gas operations, low-carbon integrated technologies and the midstream and marketing and health, safety and environment functions.

Occidental Promotes Richard A. Jackson to Senior Vice President and Chief Operating Officer

Occidental Petroleum said on Thursday it would sell its petrochemical division to Warren Buffett's Berkshire Hathaway for $9.7 billion, as the U.S. oil and gas producer looks to pare debt.

Occidental to sell OxyChem unit to Berkshire for $9.7 billion

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