Berkshire Hathaway said it will buy preferred stock in Occidental Petroleum to help it upstage Chevron’s proposed acquisition of Anadarko. Source: NYT > Business – CLIFFORD KRAUSS
Commissioner’s Resignation Underscores Fracking’s Troubles in Britain
Efforts to promote fracking to extract gas in Britain have been stymied by overly restrictive regulations, said a departing commissioner. Source: NYT > Business – STANLEY REED
Occidental Bids $38 Billion for Anadarko, Challenging Chevron
Occidental Petroleum unveiled a $38 billion bid for Anadarko Petroleum, challenging Chevron for control of the independent oil and gas company. Source: NYT > Business – CLIFFORD KRAUSS and MICHAEL J. de la MERCED
U.S. Moves to Stop All Nations From Buying Iranian Oil
Oil prices rose to their highest levels since October in anticipation of Monday’s announcement by Secretary of State Mike Pompeo. Trump administration officials had debated the move. Source: NYT > Business – EDWARD WONG and CLIFFORD KRAUSS
New U.S. Sanctions on Venezuela Aim to Choke Off Government’s Finances
The Trump administration cut off the central bank’s access to United States currency and limited its ability to conduct international financial transactions. Source: NYT > Business – CLIFFORD KRAUSS
U.S. Risks Roiling Oil Markets in Trying to Tighten Sanctions
Oil purchases by China and India are undermining United States sanctions on Iran and Venezuela, but halting them could come at a cost. Source: NYT > Business – EDWARD WONG and CLIFFORD KRAUSS