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Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
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Author: Texirish ✺🐝🐝  😊 😞
Number: of 15070 
Subject: Re: OXY news
Date: 02/21/2024 12:12 PM
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The Reuters article covers the Western Midstream position - which is that it isn't attempted a sale. Key extracts:

Occidental owns 49% of Western Midstream and controls the company's operations by also owning its general partner. Western Midstream is structured as a tax-advantaged master limited partnership, and a general partner is its controlling entity.

And

Western Midstream said in a statement it was aware of Occidental's interest in selling assets and could not provide further details, directing questions to Occidental. It added that Western Midstream itself was not running a sale process.

I read this to say that OXY has the ability to sell Western Midstream without majority ownership. Corrections welcome.

I'm a bit curious that Berkshire Hathaway Energy wasn't noted as a potential acquirer. It already has significant pipeline operations. But I don't understand how Buffett's controlling interest in Oxy might complicate this. Also Buffett doesn't like to compete in competitive auctions.
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