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Article: United States : TEXT-Moodys upgrades Occidental Petroleum.
- Article from:
- TendersInfo
- Article date:
- August 18, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
Billionaire Warren Buffett's Berkshire Hathaway Inc. took a stake in NRG Energy Inc., the second-biggest power producer in Texas. Buffett also made an undisclosed transaction involving ConocoPhillips, the second- largest U.S. refiner.
Berkshire had 3.24 million NRG shares as of June 30, the Omaha, Nebraska-based company said today in a regulatory filing disclosing equity investments at the end of the second quarter.
``It would be logical for him to increase his utility and energy holdings and NRG would fit in nicely,'' said Frank Betz, a partner at Warren, New Jersey-based Carret Zane Capital Management, which oversees $800 ...