OXY-Clean: Buffett's Favourite Oil Rig Scrubs $6 Billion In Debt Off The Books

Benzinga_recent_news02-20

• Occidental Petroleum stock is among today’s top performers. Why are OXY shares rallying? Occidental shares surged in investor attention after the company completed the sale of its OxyChem division ...

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Why are OXY shares rallying?\nOccidental shares surged in investor attention after the company completed the sale of its OxyChem division ...</p>\n\n<a href=\"https://www.benzinga.com/trading-ideas/long-ideas/26/02/50731462/oxy-clean-buffetts-favourite-oil-rig-scrubs-6-billion-in-debt-off-the-books\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2487616109.SGD","symbol_name":"JPM AMERICA EQUITY \"A\" (SGD) ACC","start_time":0,"source_url":"https://www.benzinga.com/trading-ideas/long-ideas/26/02/50731462/oxy-clean-buffetts-favourite-oil-rig-scrubs-6-billion-in-debt-off-the-books","article_id":"2612475287","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2026/02/19/Konskie--Poland---January-13--2024-Occid.jpeg?optimize=medium&dpr=2&auto=webp&width=240"],"rights":{"source":"benzinga_recent_news","url":"https://www.benzinga.com/trading-ideas/long-ideas/26/02/50731462/oxy-clean-buffetts-favourite-oil-rig-scrubs-6-billion-in-debt-off-the-books","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2612475287","pubTimestamp":1771529580,"columns":[],"sourceInfo":{"source_id":"benzinga_recent_news","name":"Benzinga"},"weMediaInfo":null,"summary":"Occidental cuts $5.8B in debt after selling OxyChem to Berkshire and raises its dividend, boosting investor focus on Buffett's stake.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","OXY":"西方石油","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0971096721.USD":"富达环球金融服务 A","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","BK4559":"巴菲特持仓","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","BRK.B":"伯克希尔B","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","BK4550":"红杉资本持仓","BK4588":"碎股","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU2168564495.EUR":"AZ ALLOCATION - 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Why are OXY shares rallying?\nOccidental shares surged in investor attention after the company completed the sale of its OxyChem division to Berkshire Hathaway for $9.7 billion. \nAs it reported its fourth quarter earnings, Occidental revealed it used the proceeds to cut roughly $5.8 billion in debt, bringing its principal debt down to about $15 billion and materially strengthening its balance sheet.\nThe cleanup is already translating into shareholder rewards. \nOccidental raised its quarterly dividend by more than 8% to 26 cents per share, continuing a broader shift from debt reduction toward capital returns.\nBerkshire Hathaway remains Occidental's largest shareholder, holding roughly 28%–29% of the company and billions more in preferred shares and warrants. That massive stake — combined with Berkshire's direct purchase of OxyChem — has kept investors focused on the possibility of deeper strategic involvement.\nAt the same time, Occidental is doubling down on its core oil and gas operations, particularly in the Permian Basin, which accounts for the bulk of its production and future growth plans. The company generated strong operating cash flow and continues targeting further debt reduction while maintaining disciplined capital spending.\nPhoto: Shutterstock\nThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2612475287","isCrawlerRequest":true}