Occidental agrees to sell OxyChem chemical unit to Berkshire Hathaway for $9.7 billion
Occidental Petroleum's subsidiaries agreed on October 1, 2025 to sell all equity in Occidental Chemical Corporation, which holds its chemical business OxyChem, to Berkshire Hathaway in an all-cash deal. The filing says the price is $9.7 billion, subject to customary cash, debt and working capital adjustments, and the sale is subject to regulatory approvals and other closing conditions.
Key points
- Purchase price is $9.7 billion in cash, subject to customary adjustments for cash, indebtedness and working capital.
- Closing is subject to the Hart-Scott-Rodino waiting period and other required regulatory consents.
- Either party may terminate if closing has not occurred by March 30, 2026, with a 90-day automatic extension if regulatory conditions are unmet.
- Occidental will guarantee the indemnification obligations of OCH and ERH under the agreement, and ERH retains environmental liabilities for OxyChem's legacy sites.
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 03, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.