Berkshire Hathaway acquired OxyChem (Occidental Petroleum's chemical business) for $9.7 billion, a transaction completed in January 2026, structured as All-cash purchase of a business/operating subsidiary from Occidental; an Occidental subsidiary retained OxyChem's legacy environmental liabilities..
OxyChem (Occidental Petroleum's chemical business) operates in Manufacturing (commodity chemicals), is based in United States, Canada and Latin America (headquartered in Dallas, Texas). Berkshire Hathaway agreed to acquire OxyChem, Occidental's chemical manufacturing business, in an all-cash transaction. OxyChem is a top-three U.S. maker of polyvinyl chloride, chlor-alkali and chlorinated organic chemicals, and calcium chloride, with products used in water treatment, pharmaceuticals, healthcare, manufacturing and construction. The business will operate as a Berkshire subsidiary, remaining headquartered in Dallas and continuing under its existing leadership.
Adds a well-run, safely operated chemicals manufacturer with an accomplished management team as a new Berkshire operating subsidiary.
Advisory firms were not disclosed for this transaction.