Berkshire Buys Additional 2.57 Million Shares in Occidental Petroleum, Filing Shows
6/8/2024
(Reuters) — Warren Buffett's Berkshire Hathaway bought around 2.57 million shares of common stock in Occidental Petroleum over June 5-7, according to a U.S. securities filing.
Buffett's company bought additional shares in Occidental's common stock for more than $150 million and now owns about 250.6 million shares in the energy producer.
Occidental shares closed at $59.48 on Friday.
As of March, Berkshire owned a roughly 28% stake in Occidental.
Occidental Petroleum previously announced it had entered into a joint venture with Berkshire Hathaway's energy unit to extract lithium in their geothermal facility in California.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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