Occidental Petroleum Corporation met both approval and skepticism as it took steps towards financial recovery by potentially selling OxyChem. While some analysts labelled it as a 'Big Bang' move, others expressed their doubts over the pricing and timing. Despite shares taking a dip, the major development was that Warren Buffett's Berkshire Hathaway formally agreed to purchase OxyChem from Occidental for $9.7 billion, showcasing their confidence in the potential of the company. The sale was intended to aid Occidental in reducing its heavy debt. Other recent moves included the company's navigation through the energy transition and strengthening its low-carbon strategy by elevating its U.S. onshore chief to the COO role. Occidental also gained new institutional investors. However, as Occidental forged ahead with sales and attracted investor attention, its stock performance saw considerable fluctuations, with multiple price targets being adjusted.
Occidental Petroleum Corporation OXY News Analytics from Tue, 08 Jul 2025 07:00:00 GMT to Sat, 04 Oct 2025 21:18:08 GMT -
Rating 5
- Innovation -5
- Information 8
- Rumor 2
