Occidental Petroleum (Oxy) Archives - Page 3 of 10

Warren Buffett’s Berkshire Hathaway buys more Occidental Petroleum shares

March 8, 2023

CNBC Warren Buffett’s Berkshire Hathaway added to its already large Occidental Petroleum stake over the past trading sessions, a regulatory filing revealed Tuesday evening. The Omaha, Nebraska-based conglomerate bought nearly 5.8 million shares of the oil company in a few separate trades on Friday, Monday and Tuesday, paying prices in a range from $59.85 to $61.90, the filing showed. The latest purchase, totaling more than

What’s behind Buffett’s renewed interest in Occidental?

August 30, 2022

Oil Price By David Messler Warren Buffett, through Berkshire Hathaway Inc., (NYSE:BRK.A), (NYSE:BRK.B) has been quietly amassing a significant stake in Occidental Petroleum, (NYSE:OXY). As of early August, he had acquired a 20% stake in the common shares of OXY, arousing speculation about what his true plans were. On Friday the 19th of August the Federal Energy Regulatory Commission-FERC, granted approval to

Berkshire Hathaway approved to buy up to half of Occidental Petroleum

August 22, 2022

World Oil Warren Buffett’s Berkshire Hathaway Inc. won approval from U.S. regulators to buy as much as 50% of Occidental Petroleum Corp. after spending months acquiring its shares. Occidental’s shares surged on news of the authorization. Berkshire applied to the Federal Energy Regulatory Commission for the approval on July 11, according to a filing published Friday. “It is concluded that

Occidental plans 70 plants to capture carbon from air by 2035

March 24, 2022

World Oil (Bloomberg) — Occidental Petroleum Corp., the shale giant backed by Warren Buffett, plans to build 70 carbon capture facilities around the world by 2035 that will each remove as much as 1 million tons per year of the greenhouse gas directly from the atmosphere. Construction on the first, $1 billion so-called direct air capture plant in the Permian

Berkshire Hathaway reveals $5 bln Occidental stake as Icahn exits

March 7, 2022

CNBC In his annual letter to shareholders released less than one week ago, Warren Buffett complained he could “find little that excites us” in the equity markets. However a new SEC filing from Friday night revealed that someone at Berkshire Hathaway, either Buffett himself or his portfolio managers, is very excited about Occidental Petroleum. As of Friday, Berkshire owns 91.2 million common shares of the

ADIPEC: Oxy’s Hollub wants Biden to stop hectoring OPEC and focus on U.S. oil

November 15, 2021

World Oil ABU DHABI (Bloomberg) – The world’s biggest oil and gas companies and many OPEC+ energy ministers are meeting in Abu Dhabi this week for the ADIPEC conference — one of the first major in-person events for the industry since the onset of the coronavirus pandemic. The Organization of Petroleum Exporting Countries and its allies are likely to maintain

Occidental to sell some Permian basin assets for $508 mln

June 10, 2021

Reuters Occidental Petroleum Corp said on Thursday it would sell some of its acreage in Texas’ Permian basin to an affiliate of private equity-backed Colgate Energy Partners III LLC for $508 million. The oil producer has cut jobs, production and the value of its assets after the pandemic hammered fuel demand, piling pressure on a company that had taken on

Analysis: Market for U.S. oil acreage booms along with crude price recovery

June 7, 2021

Reuters A recovery in the price of oil to more than two-year highs is offering a long-awaited opening to companies and private equity firms to shed unloved assets in the U.S. oil patch. Sales of land parcels worth $6.9 billion have been announced in the first five months of 2021, almost eclipsing the $7 billion recorded in all of 2020,

U.S. shale output won’t return to pre-pandemic levels: Occidental CEO

March 2, 2021

Reuters NEW YORK – The oil industry is recovering from a collapse in demand triggered by the coronavirus pandemic, but U.S. shale production will not recover to levels seen before the pandemic, Occidental Petroleum Chief Executive Vicki Hollub said on Tuesday. “The recovery is looking really good to us. If you look at what’s happening in India as well as

U.S. shale producers reveal extent of hit from Texas freeze

February 23, 2021

Reuters Occidental Petroleum Corp, Diamondback Energy Inc and a host of smaller Permian-focused U.S. shale producers on Monday forecast lower oil output in the first quarter, giving the first indications of the hit to the industry caused by last week’s winter storm. Areas of Texas not used to the cold were hit by sub-zero temperatures and record snow falls last

Occidental Announces & Early Tender Results and Further Upsize in Cash Tender Offers and Consent Solicitations for Certain of its Senior Notes

December 22, 2020

HOUSTON, Dec. 21, 2020 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) today announced the e…

Oil CEOs believe a demand recovery is coming, but volatility is here to stay

November 12, 2020

CNBC Top energy chief executives say oil demand will recover next year, but they expect volatility to remain elevated, as the industry emerges from the reckoning of the coronavirus pandemic. “We face a lot of uncertainty,” Total CEO Patrick Pouyanne told an invitation-only gathering of more than 30 senior oil and gas executives, who met virtually on Wednesday for the

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