Berkshire vs. Occidental: Who Actually Won the $10 Billion Chemicals Deal?
Berkshire Hathaway has a history of thinking long-term, while Occidental Petroleum is focusing more on near-term growth.
Overview
In late 2025, Occidental Petroleum (NYSE: OXY) announced that it was selling its chemicals business to Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) for $9.7 billion. Both companies gave the customary hat tip to each other, praising the deal. But is there a clear winner here? The answer is no, but that's not a bad thing. Here's why.
The chemicals business was actually the second big transaction between Berkshire Hathaway and Occidental Petroleum. The first came in 2019, when Berkshire Hathaway helped finance Oxy's acquisition of Anadarko Petroleum. Oxy outbid Chevron (NYSE: CVX), one of the world's largest energy companies, for that deal.
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Originally published at www.fool.com.