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- Warren Buffet’s Berkshire Hathaway (NYSE:BRK.B) has increased its share ownership in Occidental Petroleum (NYSE:OXY) by more than $150M over the past week, according to a regulatory filing.
- The Omaha, Nebraska-based investment firm disclosed in an SEC filing on Friday that it purchased over 2.5M shares of Occidental (OXY) from June 5 to June 7 in three separate transactions valued at more than $150M in total.
- Berkshire’s (BRK.B) total shareholding in the Houston, Texas-based energy company now stands at more than 250M. According to Reuters, its stake in Occidental (OXY) stood at ~28% as of March.
- The transactions followed a new joint venture announced on Tuesday by Occidental (OXY) and Berkshire Hathaway’s (NYSE:BRK.A) Energy division to extract and commercially produce lithium from Berkshire’s geothermal facilities in California.