Berkshire Hathaway nears $10B deal to buy Occidental’s OxyChem petrochemicals division.

Berkshire Hathaway is nearing a $10 billion deal to acquire Occidental Petroleum’s OxyChem petrochemicals division, its largest acquisition since 2022 and a major move in its energy strategy. The purchase, which could close soon, would help Occidental reduce debt and comes as Berkshire boosts positions in healthcare and housing. The deal follows Buffett’s long-standing investment in Occidental, which he has held since 2022, and reflects his focus on stable, long-term assets amid a leadership transition.