Berkshire Hathaway Boosts Stake in Occidental Petroleum to Nearly 29%
06.18.2024 By Tank Terminals - NEWS

June 18, 2024 [Reuters]- Billionaire Warren Buffett’s Berkshire Hathaway Inc acquired another 2.95 million shares in Occidental Petroleum, a regulatory filing showed, bringing his stake in the U.S. oil producer’s common stock to nearly 29%.

 

Berkshire disclosed in a U.S. Securities and Exchange Commission filing on Monday that it paid about $176 million in three separate purchases of Occidental shares since Thursday.

Those acquisitions gave Berkshire about 255.3 million Occidental common shares, an about 29% stake worth approximately $15.37 billion on Monday. His purchases this month have totaled 5.5 million shares.

In August 2022, Berkshire won U.S. regulatory approval to buy up to 50% of Occidental, but Buffett has said he has no plans to acquire the Houston-based company.

Buffett also owns warrants to purchase another 83.5 million shares of Occidental at $59.62 per share, below Occidental’s closing price of $60.20 on Monday.

 

Free Trial: Access 13,300 Tank Terminal and Production Facilities

13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Plans to Build a $5.5 Billion Refinery in Cushing Have Been Delayed
07.19.2024 - NEWS
July 19, 2024 [Simbaforkids]- In May 2023, it was announced that Southern Rock Energy Partners wo... Read More
Oil Prices Gain 2% on Big US Storage Withdrawal, Weaker US Dollar
07.19.2024 - NEWS
July 19, 2024 [Reuters]- Oil prices climbed about 2% on Wednesday on a bigger-than-expected weekl... Read More
Vopak Starts Office in Japan for Storage of Energy Transition Fuels
07.19.2024 - NEWS
July 19, 2024 [Reuters]- Dutch tank storage firm Vopak has opened a new office in Tokyo, Japan, t... Read More
CMC Contract for LNG Vasiliko Likely to be Terminated
07.19.2024 - NEWS
July 19, 2024 [Cyprus Mail]- The contract between the state Natural Gas Infrastructure Company (E... Read More