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Buffett’s Berkshire Holds 20% Stake in Occidental

·1 min read

(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc., which got the go-ahead last month from US regulators to buy as much as half of the oil giant, holds a 20.2% stake in Occidental Petroleum Corp.

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The level of ownership was confirmed late Friday in a federal filing.

Berkshire has spent this year expanding its ownership in Occidental after first making a bet on the Houston-based oil company three years ago. In approving Berkshire’s request on Aug. 19, the Federal Energy Regulatory Commission said the proposed stock purchases would be consistent with the public interest.

(Corrects story first published Sept. 9 to show that Buffett’s stake in Occidental is unchanged and hasn’t increased.)

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