Occidental Petroleum Sells OxyChem to Berkshire Hathaway for $9.7 Billion

Occidental Petroleum sold its OxyChem unit to Berkshire Hathaway for $9.7 billion in January 2026, using over half the proceeds to reduce debt. The company's stock has risen more than 45% in 2026 amid rising crude prices, but investors are evaluating whether the rally is sustainable.

By Catie Hogan · Motley Fool · May 6, 2026, 18:32 UTC

Occidental Petroleum Sells OxyChem to Berkshire Hathaway for $9.7 Billion

Tickers: $OXY

Topics: Balance Sheet Debt Reduction Energy Sector M&A Stock Performance

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