Berkshire Hathaway acquires Occidental petrochemicals

Berkshire Hathaway has announced the acquisition of Occidental Petroleum’s petrochemical division for $9 billion in cash, representing its largest deal since 2022. The announcement triggered a premarket surge of over 1% in Occidental shares. This strategic acquisition reflects Berkshire Hathaway’s focus on expanding its energy portfolio and capitalizing on market opportunities. Analysts view the move as a sign of renewed merger and acquisition activity in the energy sector, highlighting confidence in long-term growth prospects and sectoral stability.