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...Occidental’s most recent major transaction was criticised for being poorly timed after it took on huge debt to buy Anadarko Petroleum for $57bn in 2019, just before the Covid-19 pandemic caused oil prices...
...Occidental’s last major transaction was slammed for being poorly timed after it took on huge debt to buy Anadarko Petroleum for $57bn in 2019, just before the Covid-19 pandemic caused oil prices to plunge...
...The $55bn purchase of Anadarko Petroleum in 2019 saddled the company with huge debts just as the global pandemic crushed oil prices. Its woes attracted activist investor Carl Icahn....
...Berkshire did not disclose any new investments in the fourth quarter of 2023, although it increased its holdings in satellite radio operator SiriusXM and in oil majors Chevron and Occidental Petroleum....
...Lego is fundamentally a product that is petroleum-based. I mean, ABS plastic has a core element of petroleum. Their entire product is based on oil....
...It would be the largest in the US oil industry for at least four years, when Occidental Petroleum in 2019 bought rival Anadarko Petroleum for $55bn after outbidding Chevron in an epic corporate battle....
...The $10bn cheque with which she emerged allowed her to outbid rival Chevron in an epic corporate battle to acquire Anadarko Petroleum, doubling Occidental, better known as Oxy, in size....
...BlackRock is set to invest $550mn into the world’s biggest direct air capture project, which is being developed by Occidental Petroleum, in a sign of growing investor confidence in the nascent technology...
...Petroleum....
...surge in supply led to gluts in the region surrounding CVR’s two refineries in Coffeyville, Kansas and Wynnewood, Oklahoma, allowing the company to buy crude oil at knockdown local prices and sell refined petroleum...
...It walked away from an attempted takeover of Anadarko Petroleum in 2019 after a bidding war broke out with rival Occidental Petroleum....
...How the ‘dumbest deal in history’ actually paid off When Occidental Petroleum boss Vicki Hollub orchestrated a $10bn financing deal with Warren Buffett to buy Anadarko Petroleum in April 2019, it flabbergasted...
...with the claims about energy companies, saying “BlackRock clients have more than $170bn invested in American energy companies” and touted last month’s $550mn investment by a BlackRock fund in Occidental Petroleum...
...One of his first big decisions was to walk away from a $50bn-plus takeover battle with rival Occidental Petroleum for Anadarko Petroleum....
...News round-up General Atlantic takes first step towards potential US listing (FT) Cigna pulls out of blockbuster deal to create insurance giant with Humana (FT) Occidental Petroleum agrees $12bn deal...
...Irving Oil, the owner of Canada’s largest petroleum refinery, has launched a strategic review of the private company that could result in a sale or a change in its sprawling energy portfolio....
...Occidental Petroleum thinks it can make money from decarbonising. That is a far cry from the $55bn bet the oil explorer made on rival Anadarko in 2019....
...Berkshire also added to his positions in Capital One and oil producer Occidental Petroleum....
...Granholm has cheered on Occidental Petroleum’s plans to deploy direct air capture technology, which sucks CO₂ from the atmosphere to be stuffed underground, in the oilfields of west Texas....
...Its 25 per cent stake in Occidental Petroleum means part of the oil company’s profits are reported on Berkshire’s income statement....
...A version of this article was first published by Nikkei Asia on April 27 2023. ©2023 Nikkei Inc. All rights reserved....
...He prefers opportunistic rescue financings or investments in the $5bn to $20bn range, such as with Occidental Petroleum in 2019....
...Occidental’s shares jumped 9.9 per cent to $71.29 after the Ferc filing.Buffett’s support was instrumental in Occidental’s $55bn takeover of Anadarko Petroleum in 2019....
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