Warren Buffett is not expected to bid for control of Occidental after approval for a larger stake

Warren Buffettits attempt to increase its large stake in Occidental Petroleum even more, it is not expected to serve as a prelude to a full takeover of the resurgent energy company by the widely watched billionaire, at least for now.

In a regulatory filing Friday, the Federal Energy Regulatory Commission said that Mr. Buffett’s Berkshire Hathaway had received permission to buy up to 50% of the driller’s shares. The news sparked speculation that Berkshire could be preparing to buy Occidental.