Berkshire buys additional 2.6 million shares in Occidental Petroleum, filing shows

WARREN Buffett’s Berkshire Hathaway bought around 2.6 million shares of common stock in Occidental Petroleum over Jun 5 to 7, according to a US securities filing.

Buffett’s company bought additional shares in Occidental’s common stock for more than US$150 million and now owns about 250.6 million shares in the energy producer.

Occidental shares closed at US$59.48 on Friday (Jun 7).

As at March, Berkshire owned a roughly 28 per cent stake in Occidental.

Occidental previously announced it had entered into a joint venture with Berkshire Hathaway’s energy unit to extract lithium in their geothermal facility in California. REUTERS