Occidental Petroleum is an oil and gas exploration and production company with significant operations in the Permian Basin, along with a chemicals business and a growing carbon capture and sequestration operation aimed at removing carbon dioxide from the atmosphere. Unlike integrated majors that also refine and market fuel, Occidental's earnings from its core oil and gas business move fairly directly with crude oil prices, since it primarily produces and sells raw crude and natural gas. The company has invested heavily in direct air capture technology, building facilities designed to pull carbon dioxide out of the atmosphere, a business that depends partly on government tax incentives and on demand from companies looking to offset their own carbon emissions. Warren Buffett's Berkshire Hathaway has built a large equity stake in Occidental over several years, a relationship that has drawn significant investor attention to the stock beyond its underlying oil and gas fundamentals.