equipment used to process carbon dioxide crude oil and water is seen at an occidental petroleum corp enhanced oil recovery project in hobbs new mexico us on may 3 2017 reutersernest scheyder july 18 reuters  warren buffetts berkshire hathaway inc brkan on monday said it has bought another 194 million shares of occidental petroleum corp oxyn putting it nearer a threshold where it could record some of the oil companys earnings with its own berkshires latest purchases from july 14 to july 16 cost 112 million and gave buffetts conglomerate a 194 occidental stake worth about 109 billion regulatory filings show if it reached 20 ownership berkshire could record its proportionate share of houstonbased occidentals earnings known as the equity method of accounting analysts on average expect occidental to post about 107 billion of net income this year according to refinitiv ibes though some analysts and investors have speculated that berkshire could eventually buy all of occidental berkshire could contend that its accounting should remain unchanged because its stake is passive read more berkshire based in omaha nebraska uses the equity method for its 266 stake in packaged food company kraft heinz co khco which it controls with brazilian private equity firm 3g capital it also owns 10 billion of occidental preferred stock and has warrants to buy an additional 839 million common shares for 5 billion occidentals share price has more than doubled this year benefiting from rising oil prices following russias invasion of ukraine reporting by jonathan stempel in new york editing by matthew lewis