Warren Buffett’s Berkshire Hathaway Cleared to Buy as Much as Half of Occidental’s Shares

Warren Buffett’s Berkshire Hathaway has the inexperienced mild from regulators to buy as a lot as 50% of Occidental Petroleum Corp.’s shares, after searching for approval for such a transaction in July.

In a regulatory submitting Friday, the Federal Energy Regulatory Commission mentioned that Berkshire Hathaway had asked for and received its permission to purchase up to 50% of the driller’s shares. Berkshire has been loading up on Occidental’s shares this yr, amassing roughly 20% of the corporate’s inventory, public filings present, leaving many analysts to speculate whether or not Mr. Buffett would search management of the corporate, one of the most important U.S. oil producers.