Friday, July 11, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Berkshire Ramps Up Wager on Occidental as Crude Prices Surge

by Euro Times
March 5, 2022
in Finance
Reading Time: 2 mins read
A A
0
Home Finance
Share on FacebookShare on Twitter


(Bloomberg) — Berkshire Hathaway Inc., the conglomerate run by billionaire Warren Buffett, boosted its funding in power large Occidental Petroleum Corp. as oil costs hit their highest stage in nearly a decade.

Most Learn from Bloomberg

Berkshire this 12 months bought nearly 30 million extra shares of Occidental, based on a Friday regulatory submitting, bringing its whole holdings to 113.7 million shares. Omaha, Nebraska-based Berkshire holds about 11.2% of Occidental widespread shares in an funding at the moment valued at about $6.4 billion.

Berkshire didn’t instantly reply to a request for remark in regards to the buy.

Berkshire’s extra funding in Occidental comes as the worth of crude has surged to multi-year highs following Russia’s invasion of Ukraine and fears of a provide crunch. Oil topped $115 a barrel on information the U.S. is contemplating a ban on imports of Russian crude as extra punishment on Moscow. Costs might attain $150 a barrel within the subsequent three months if Russian crude continues to be largely shunned, mentioned Damien Courvalin, head of power analysis at Goldman Sachs Group Inc.

Shares of Occidental soared this week, logging a forty five% achieve, the largest achieve since 2020. Occidental’s shares haven’t been this excessive since its Might 2019 announcement of a definitive $55-billion deal, inclusive of debt, for Anadarko Petroleum Corp.

Buffett invested $10 billion to assist fund Occidental’s takeover of Anadarko. Most of Berkshire’s stake in Occidental — greater than 83 million shares — are tied to warrants acquired in that deal, which have been producing funds.

Billionaire activist investor, Carl Icahn, who battled the Anadrako deal and blasted Buffett’s costly financing, reduce his stake in Occidental to three.4%, promoting 26,941,467 shares between Feb. 28 by means of March 2, based on filings.

A consultant for Icahn wasn’t instantly accessible for remark.

Most Learn from Bloomberg Businessweek

©2022 Bloomberg L.P.



Source link

Tags: BerkshireCrudeOccidentalPricesRampssurgeWager
Previous Post

Modi coming to inaugurate incomplete projects: Sharad Pawar

Next Post

5 ETFs Paul’s Buying — But You Can Do Better

Related Posts

Coffee Break: AI in Healthcare and Science, the Nature of Charisma, and a Cure from a Mouse to a Patient

Coffee Break: AI in Healthcare and Science, the Nature of Charisma, and a Cure from a Mouse to a Patient

by KLG
July 11, 2025
0

Half the First: Algorithmic Intelligence in Medical Drugs. From the article This Ohio well being system examined an AI instrument...

Trump announces 35% tariffs on Canada starting Aug. 1, warns of higher levies

Trump announces 35% tariffs on Canada starting Aug. 1, warns of higher levies

by Anniek Bao,Vinay Dwivedi
July 11, 2025
0

U.S. President Donald Trump and Canada's Prime Minister Mark Carney discuss throughout a household picture on the G7 Summit in...

Corn Sticking Close to Unchanged at Midday

Corn Sticking Close to Unchanged at Midday

by Barchart
July 11, 2025
0

Corn futures are down fractionally within the close by contracts, with new crop December up ¼ cent. There have been...

Deporting Millions Won’t Boost the Economy — and Chaos is Costly

Deporting Millions Won’t Boost the Economy — and Chaos is Costly

by AIER
July 11, 2025
0

The Trump administration’s most excessive immigration promise is now not theoretical. It’s taking place — on the bottom, in American...

Life has no fun on high base as ULIP sales slow down

Life has no fun on high base as ULIP sales slow down

by Euro Times
July 11, 2025
0

MUMBAI: Life insurance coverage corporations posted a 4.25% year-on-year improve in new enterprise premiums for the April-June quarter, pushed largely...

Why Is Every Natural Disaster Being Politicized?

Why Is Every Natural Disaster Being Politicized?

by William L. Anderson
July 10, 2025
0

Even whereas the seek for lacking individuals in flood-ravaged Texas continues, the politicized invective has come from the Left. Maybe...

Next Post
5 ETFs Paul’s Buying — But You Can Do Better

5 ETFs Paul’s Buying — But You Can Do Better

Bitcoin Activity Soars Post SWIFT Ban On Russia, BTC At Crucial Spot?

Bitcoin Activity Soars Post SWIFT Ban On Russia, BTC At Crucial Spot?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

UAE Golden Visa: No property or investment needed, how you can simply qualify by volunteering | World News

UAE Golden Visa: No property or investment needed, how you can simply qualify by volunteering | World News

July 11, 2025
SenesTech registers 1.53M shares for resale by warrant holders (NASDAQ:SNES)

SenesTech registers 1.53M shares for resale by warrant holders (NASDAQ:SNES)

July 11, 2025
سرمایه گذاری ۴.۲ میلیارد دلاری شرکت «استراتژی» روی بیت کوین؛ رشد هیجان اطراف توکن «اسنورتر»

سرمایه گذاری ۴.۲ میلیارد دلاری شرکت «استراتژی» روی بیت کوین؛ رشد هیجان اطراف توکن «اسنورتر»

July 11, 2025
AI is changing the rental car return experience – and it could cost you

AI is changing the rental car return experience – and it could cost you

July 11, 2025
GOP Senators To Defy Trump – Save NPR & PBS

GOP Senators To Defy Trump – Save NPR & PBS

July 11, 2025
This is the most underrated country in Southeast Asia

This is the most underrated country in Southeast Asia

July 11, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

UAE Golden Visa: No property or investment needed, how you can simply qualify by volunteering | World News

SenesTech registers 1.53M shares for resale by warrant holders (NASDAQ:SNES)

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In