• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, August 7, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Warren Buffett Buys Up Even More Occidental Petroleum

May 21, 2023
Stephen M.Cby Stephen M.C
in Extractives/Energy
0
Warren Buffett buys up even more Occidental Petroleum

Warren Buffett - an American business magnate, investor, and philanthropist

A regulatory filing has disclosed that Warren Buffett’s Berkshire Hathaway purchased further shares in Occidental Petroleum last week, increasing its position in the US oil company to 24.4%.

Berkshire Hathaway paid roughly $58 per share for 3,457,222 Oxy common shares this week, totaling $201 million.

Berkshire Hathaway now holds 217,330,133 common shares of Occidental, valued at approximately $12.7 billion, as a result of the recent transactions.

RelatedPosts

Ghana Chamber of Mines Mourns Tragic Helicopter Crash Victims 

Electricity Prices Drop Across Africa as Renewables Scale and Costs Fall 

Trump Targets Major Buyers of Russian Crude with Tariffs 

Despite owning more than 23% of Occidental Petroleum, Warren Buffett stated earlier this month that Berkshire Hathaway would not seek full control.

“We don’t know where the price of oil will be, but we like Occidental’s position in the Permian. There’s speculation about us buying to control. We are not going to control. We wouldn’t know what to do with it.”

Buffett said at Berkshire Hathaway’s annual meeting in early May
Warren Buffett
Warren Buffett

Berkshire Recognized As Oxy’s Major Shareholder

It can be recalled that three years ago, Berkshire Hathaway funded Oxy’s takeover of Anadarko with $10 billion in the form of equity. It was as part of this deal that the investment firm received the stock purchase warrants that could see it acquire 20% or more in Occidental.

To date, Berkshire is Oxy’s largest shareholder. Besides the purchase warrants, the company owns $10 billion worth of Oxy preferred stock, which carries an 8% dividend.

Oxy bought Anadarko for $55 billion in 2019, making it one of the biggest M&A deals in energy over the past few years. In that, it outbid Chevron, which had earlier announced a bid for the energy company.

“We will not be making any offer for control of Occidental, but we love the shares we have. We may or may not own more in the future but we certainly have warrants on what we got as part of the original deal on a very substantial amount of stock around $59 a share, and warrants last a long time, and I’m glad we have them.”

Warren Buffett 

Read also: Global Carbon Market In Turmoil After Zimbabwe Grabs Offset Money- BloombergNEF

Tags: AnadarkoOccidental PetroleumOxy common sharesUS oil companyWarren Buffett
Please login to join discussion
Previous Post

Generals Consent To Ceasefire

Next Post

GIZ Graduates SMEs in Upper West under the ‘SMES Loop Programme’

[mc4wp_form id="1264"]

Related Posts

President John Dramani Mahama
General News

President Mahama Mourns Eight Lost in Helicopter Crash

August 7, 2025
Helicopter Crash Victims
Extractives/Energy

Ghana Chamber of Mines Mourns Tragic Helicopter Crash Victims 

August 7, 2025
AY Unveils Rebuilt Mansion Two Years After Fire Incident
Entertainment

AY Unveils Rebuilt Mansion Two Years After Fire Incident

August 7, 2025
Tyla Sued Over Global Hit Song “Water”
Entertainment

Tyla Embraces Music, Love and Identity

August 7, 2025
Dr. Edward Omane Boamah, Minister, Colombia, India, Ghana Mourns
General News

Colombia and India Mourn Ghana’s Fallen Ministers

August 7, 2025
Abdul Hayi Moomen
General News

Journalism Devoid of Sensitivity Inflicts More Pain, Media Coverage of Grief Rebuked

August 7, 2025
President John Dramani Mahama
General News

President Mahama Mourns Eight Lost in Helicopter Crash

by Evans Junior OwuAugust 7, 2025
Helicopter Crash Victims
Extractives/Energy

Ghana Chamber of Mines Mourns Tragic Helicopter Crash Victims 

by Prince AgyapongAugust 7, 2025
AY Unveils Rebuilt Mansion Two Years After Fire Incident
Entertainment

AY Unveils Rebuilt Mansion Two Years After Fire Incident

by Esther Korantemaa OffeiAugust 7, 2025
Tyla Sued Over Global Hit Song “Water”
Entertainment

Tyla Embraces Music, Love and Identity

by Esther Korantemaa OffeiAugust 7, 2025
Dr. Edward Omane Boamah, Minister, Colombia, India, Ghana Mourns
General News

Colombia and India Mourn Ghana’s Fallen Ministers

by Silas Kafui AssemAugust 7, 2025
Abdul Hayi Moomen
General News

Journalism Devoid of Sensitivity Inflicts More Pain, Media Coverage of Grief Rebuked

by Evans Junior OwuAugust 7, 2025
President John Dramani Mahama
Helicopter Crash Victims
AY Unveils Rebuilt Mansion Two Years After Fire Incident
Tyla Sued Over Global Hit Song “Water”
Dr. Edward Omane Boamah, Minister, Colombia, India, Ghana Mourns
Abdul Hayi Moomen
[/vc_row_inner]

Recent News

  • President Mahama Mourns Eight Lost in Helicopter Crash
  • Ghana Chamber of Mines Mourns Tragic Helicopter Crash Victims 
  • AY Unveils Rebuilt Mansion Two Years After Fire Incident
  • Tyla Embraces Music, Love and Identity
  • Colombia and India Mourn Ghana’s Fallen Ministers
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.