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Business

Warren Buffett’s Berkshire Hathaway managed to buy as much as half of Occidental’s shares




Warren Buffett’s Berkshire Hathaway has the green light from regulators to buy as much as 50% of Western Petroleum Corp. its shares, after seeking approval for such a transaction in July.

In a regulatory filing Friday, the Federal Energy Regulatory Commission said Berkshire Hathaway had requested and received permission to buy up to 50% of the driller’s shares. Berkshire has loaded up on Occidental’s stock this year, amassing about 20% of the company’s shares, public filings show, leaving many analysts to speculate whether Mr. Buffett would seek control of the company, one of the largest U.S. oil producers.



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