Warren Buffett Bankrolls Occidental’s Anadarko Bid With $10 Billion

The logo and trading information for Anadarko Petroleum Corporation are displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. Brendan McDermid/Reuters

Warren Buffett’s Berkshire Hathaway Inc. committed $10 billion on April 30 to Occidental Petroleum Corp’s $38 billion cash-and-stock bid for Anadarko Petroleum Corp., boosting its chances of snatching a deal from Chevron Corp.

Occidental and Chevron are locked in the biggest oil-industry takeover battle in years as they eye Anadarko’s prized assets in West Texas’ huge Permian shale oil field.