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Largest purchase in 3 years and barley makes a dent in the $344 billion they are sitting on!
10 sats \ 1 reply \ @BlokchainB 3h
OxyChem manufactures water treatment, health care and other commercial chemicals. Occidental said it will use $6.5 billion of the proceeds to pay down debt.
A buffet bailout?
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Naw they still pay a 2% dividend and have been lowering their debt since that huge buyout years ago Berkshire financed. Chemicals with all the lawsuits on top of being fossil fuel focused is a little much. Esp with their carbon capture tech they are trying to ramp up people onto. Using captured carbon dioxide for enhanced oil recovery is genius. Better performance than the chemicals used and better for the environment… plus government pays you.
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