Warren Buffett Sells Stake In Oil Giant Occidental Petroleum

Warren Buffett’s Berkshire Hathaway has sold its common stock interest in Occidental Petroleum, according to a regulatory filing cited by Bloomberg. Berkshire Hathaway had bought $10 billion in Oxy shares to help fund the company’s acquisition of Anadarko, which in hindsight, turned into one of the most ill-timed acquisitions in the history of oil. The acquisition cost Oxy some $55 billion and was aimed at expanding its presence in the U.S. shale patch. In addition to the investment that helped fund the deal, Buffett’s investment…