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Occidental Oman has entered into three agreements with local companies to enhance domestic supply chain participation and support national businesses in the energy sector.
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Occidental Petroleum is set to report Q3 2026 earnings on November 9 with consensus estimates of $1.43 per share on $6.73 billion in revenues. The company is expected to benefit from strong Permian production, improved drilling efficiencies, and lower interest costs. However, Midstream earnings may face headwinds from narrower gas spreads, and Gulf production could see disruptions from maintenance and weather. OXY carries a Zacks Rank #2 with a +4.14% Earnings ESP, suggesting an earnings beat is likely.
Greg Abel, who took over as CEO of Berkshire Hathaway after Warren Buffett's retirement, maintains a concentrated portfolio with 71% ($255.2 billion) invested in seven core stocks. Legacy holdings like Apple, American Express, Coca-Cola, and Bank of America remain pillars, while Abel has been actively building Alphabet's position due to its AI-powered Google Cloud growth. Energy stocks Chevron and Occidental Petroleum also play significant roles, reflecting Abel's background in energy management.
Since taking over as CEO, Greg Abel has completed two major acquisitions for Berkshire Hathaway: OxyChem for $9.7 billion and Taylor Morrison for $6.8 billion, totaling $16.5 billion or just 4.5% of the company's $365.5 billion cash pile. These deals suggest Abel is maintaining acquisition discipline while potentially pursuing more synergistic deals than Warren Buffett, signaling a slow pivot in strategy that may help prevent Berkshire from stagnating.
Devon Energy (DVN) is set to report Q3 2026 earnings on November 5 with consensus estimates of $1.24 per share and $7.33B in revenues. The company is expected to beat estimates due to strong Delaware Basin production, full-quarter contributions from the Coterra merger, operational efficiencies, and over 350 identified synergy initiatives. DVN trades at a discount valuation of 8.98X forward earnings versus the industry average of 10.75X, with a strong balance sheet featuring only 21.43% debt-to-capital ratio.
Occidental Petroleum President and CEO Richard Jackson is attending the ADIPEC 2026 energy conference in Abu Dhabi to engage in high-level discussions on global energy security.