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AI brief of an SEC Form 8-K · Occidental Petroleum (OXY)

Occidental completes $9.7 billion sale of OxyChem to Berkshire Hathaway

Mixed Impact 4 of 5 m&a Written later

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.

Key points

  • 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.

The filing

CompanyOccidental Petroleum (OXY)
Form8-K, current report
Filed with the SECJan 2, 2026, 4:17 PM ET
Accession number0001628280-26-000153

Items reported: 2.01 Acquisition or Disposition Completed7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

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 January 02, 2026.

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.