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Occidental Swears Off New Big Deals Post-Berkshire Chemical Sale

Bloomberg•Thursday, October 2, 2025 at 3:31:35 PM
NeutralFinancial Markets
Occidental Swears Off New Big Deals Post-Berkshire Chemical Sale
Occidental Petroleum Corp. has announced that it will refrain from pursuing large-scale deals following its successful $9.7 billion sale of a chemical unit to Berkshire Hathaway Inc. This decision marks a significant shift in the company's strategy, as it aims to focus on stabilizing its operations and managing its existing assets. The sale not only helps Occidental meet its asset-sales target but also reflects a broader trend in the industry where companies are prioritizing financial health over aggressive expansion.
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