Occidental completes $9.7 billion sale of OxyChem to Berkshire Hathaway
Occidental completed the sale of its chemical business, OxyChem, to Berkshire Hathaway on January 2, 2026, for $9.7 billion in cash, subject to customary purchase price adjustments. The company says the deal accelerates its plan to strengthen its balance sheet, and its pro forma figures also reflect the redemption of $6.5 billion of debt. Pro forma results that remove OxyChem show lower nine-month 2025 diluted earnings per share from continuing operations of $1.50, compared with $1.68 as reported.
- Sale completed January 2, 2026, for $9.7 billion in cash, subject to customary purchase price adjustments.
- Pro forma figures reflect redemption of $6.5 billion of Occidental debt.
- Nine-month 2025 diluted EPS from continuing operations: $1.50 pro forma versus $1.68 historical.
- Occidental's subsidiary Environmental Resource Holdings, LLC retained OxyChem's legacy tort claims and environmental liabilities; OxyChem results will be reported as discontinued operations starting Q4 2025.