Hints and tips:
...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....
...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 products at higher national prices, generating outsized profits....
...fund in Occidental Petroleum’s carbon capture project....
...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...
...Berkshire also added to his positions in Capital One and oil producer Occidental Petroleum....
...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....
...Its 25 per cent stake in Occidental Petroleum means part of the oil company’s profits are reported on Berkshire’s income statement....
...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....
...He prefers opportunistic rescue financings or investments in the $5bn to $20bn range, such as with Occidental Petroleum in 2019....
...A version of this article was first published by Nikkei Asia on April 27 2023. ©2023 Nikkei Inc. All rights reserved....
...Disclosures have shown that Berkshire increased its stake in Occidental Petroleum during the quarter, however Buffett on Saturday said the company was not planning to take control of the oil company....
...“Vladimir Putin is also the CEO of Russia Oil Inc and he understands the dynamics of the market very well,” Yergin said....
...Earlier in the year he spent tens of billions of dollars buying up shares in oil majors Occidental Petroleum and Chevron, and in the fourth quarter Berkshire’s takeover of rival insurer Alleghany was completed...
...Olczak says he borrowed the name for PMI’s “beyond nicotine” strategy from BP’s “beyond petroleum” tagline following a dinner with former BP chief executive John Browne....
...Woodside Petroleum completed a merger with BHP’s oil and gas business this year, while Santos merged with rival Oil Search in a A$21bn deal last year....
...The investments, along with purchases of shares in video streaming service Paramount Global and oil majors Occidental Petroleum and Chevron, showed that Buffett and his investment team continued to bet on...
...Berkshire Hathaway won the approval of a US energy regulator on Friday to buy up to 50 per cent in Occidental Petroleum, giving Warren Buffett’s company the option to vastly increase its stake in one of...
...Elliott is no stranger to shaking up underperforming energy companies. It has called for a break-up of Marathon Petroleum in the US and the removal of its CEO in the past....
...That includes Occidental Petroleum, whose debt pile increased by more than $28bn to almost $39bn in 2019 when it beat Chevron in a bidding war to buy Anadarko, another shale producer, just months before...
...Richard Chilton, the founder and chief investment officer of Chilton Investment Company, told the FT he decided to add Berkshire to the company’s holdings after Buffett snapped up shares of Occidental Petroleum...
...Whiting Petroleum and Oasis Petroleum, two US shale oil producers that went through bankruptcy during the 2020 crude price crash, have announced a merger in the middle of a rally to create a $6bn operator...
...“There are lots of headwinds to increasing production worldwide,” Occidental Petroleum chief executive Vicki Hollub told analysts last week....
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