Berkshire not interested in acquiring Occidental, Buffett says

In his annual letter, Berkshire Hathaway’s Warren Buffett said, “At yearend, Berkshire owned 27.8% of Occidental Petroleum’s (OXY) common shares and alsovowned warrants that, for more than five years, give us the option to materially increase our ownership at a fixed price. Though we very much like our ownership, as well as the option, Berkshire has no interest in purchasing or managing Occidental. We particularly like its vast oil and gas holdings in the United States, as well as its leadership in carbon-capture initiatives, though the economic feasibility of this technique has yet to be proven. Both of these activities are very much in our country’s interest.”