On Monday, March 27, 2023, Berkshire Hathaway filed with the SEC it had purchased more shares in Occidental Petroleum (OXY). It now has about 23.6% of the oil and gas company and also owns $10 billion in Occidental preferred stock, with warrants to purchase $5 billion more shares at $59.62. What does Buffett see in the company?
The Motley Fool says that there are three reasons for his interest. They say he likes their interest in Permian oil and gas with its growth potential, as well as the company's well-productivity technology. The third reason he said Buffett likes the company is its carbon capture technology.
