---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-000153"
form_type: "8-K"
ticker: "OXY"
cik: "0000797468"
company_name: "OCCIDENTAL PETROLEUM CORP /DE/"
filed_at: "2026-01-02T23:59:59+00:00"
generated_at: "2026-05-16T11:52:09.933236+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Occidental completes $9.7B sale of OxyChem to Berkshire Hathaway, cuts debt $6.5B

## Summary
- Closed Jan 2, 2026; all-cash consideration of $9.7B subject to working capital adjustments.
- Proceeds used to redeem $6.5B of Occidental debt; pro forma long-term debt reduced to $15.9B.
- Pro forma 9M 2025 net income from continuing ops: $1.53B (diluted EPS $1.50) vs historical $1.72B ($1.68).
- Environmental liabilities for legacy tort claims retained by subsidiary Environmental Resource Holdings.
- CEO Vicki Hollub says sale strengthens balance sheet and sharpens focus on oil & gas portfolio.

## SEC filing metadata
- accession: 0001628280-26-000153
- form_type: 8-K
- ticker: OXY
- cik: 0000797468
- company_name: OCCIDENTAL PETROLEUM CORP /DE/
- filed_at: 2026-01-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/797468/000162828026000153/0001628280-26-000153-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/797468/000162828026000153/oxy-20260102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-000153
- JSON: https://secwatch.observer/filing/0001628280-26-000153.json
- Plain text: https://secwatch.observer/filing/0001628280-26-000153.txt

## Source-grounded claims
- claim_id: 2e9409b348f3f473c8468a97bc35930c34fbc260
  claim: OCCIDENTAL PETROLEUM CORP /DE/ completed a disposition involving Berkshire Hathaway Inc. for $9.7 billion in cash (closed 2026-01-02).
  evidence_excerpt: On January 2, 2026, and pursuant to the Purchase Agreement, Occidental completed the Divestiture for $9.7 billion in cash, subject to customary purchase price adjustments as set forth in the Purchase Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/797468/000162828026000153/0001628280-26-000153-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.