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

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...

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...

Barclays launch new sub-4% mortgage deal to compete with best rates on market

Barclays launch new sub-4% mortgage deal to compete with best rates on market

by Karl Matchett
July 11, 2025
0

Signal as much as our free cash publication for funding evaluation and skilled recommendation that will help you construct wealthSignal...

Genius Act: This New US Crypto Law Could Pave the Way for the Next Global Financial Crisis

Genius Act: This New US Crypto Law Could Pave the Way for the Next Global Financial Crisis

by Yves Smith
July 10, 2025
0

Yves right here. I want I had reposted among the content material from an incredible 2022 put up at Heisenberg...

Reagan’s Trade Gamble: The Story Behind the Voluntary Export Restraints

Reagan’s Trade Gamble: The Story Behind the Voluntary Export Restraints

by David Hebert, Marcus M. Witcher
July 10, 2025
0

Ronald Reagan deserves a lot reward for his stalwart dedication to free commerce and decreasing commerce obstacles. Even his most...

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 *

Russian basketball player arrested on suspicion of carrying out ransomware attacks

Russian basketball player arrested on suspicion of carrying out ransomware attacks

July 11, 2025
Why ACA health insurance premiums may see ‘sharp’ increase in 2026

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

July 11, 2025
PEP, Supportive Care, and More

PEP, Supportive Care, and More

July 11, 2025
Research Predicts 0,000 Bitcoin By EOY, If Treasury Firms Hold

Research Predicts $160,000 Bitcoin By EOY, If Treasury Firms Hold

July 11, 2025
Russia develops Mi-80 to replace iconic Hip helicopter

Russia develops Mi-80 to replace iconic Hip helicopter

July 11, 2025
Elon Musk’s SpaceX set to launch Israel’s Dror satellite

Elon Musk’s SpaceX set to launch Israel’s Dror satellite

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

Russian basketball player arrested on suspicion of carrying out ransomware attacks

Why ACA health insurance premiums may see ‘sharp’ increase in 2026

  • 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