Buffett’s Berkshire Hathaway Wins OK to Buy 50 Percent Occidental Stake

The Occidental Petroleum Corp. headquarters in Los Angeles on Sept. 16, 2013. Mario Anzuoni/Reuters

A U.S. energy regulator on Friday gave Berkshire Hathaway Inc., the company controlled by billionaire Warren Buffett, permission to buy up to 50 percent of oil company Occidental Petroleum Corp’s common stock.

The Federal Energy Regulatory Commission (FERC) said letting Berkshire add to its 20.2 percent stake was “consistent with the public interest.”