The big move by Warren Buffett’s Berkshire Hathaway to buy the chemicals business of oil giant Occidental Petroleum for nearly $10 billion is a double win for Berkshire, analysts say, in Buffett’s potential swan song deal before retiring at the end of December.

The Oct. 2 deal is the first-ever Berkshire announcement that quotes incoming CEO Greg Abel and doesn’t mention the current chief executive by name.

The OxyChem business will operate as a strong standalone for Berkshire, while the deal should boost Berkshire’s nearly 30% ownership of parent Oxy because the Houston company will use the bulk of the proceeds to pay off the high debt load that’s dragged down its stock in recent years, said Doug Leggate, Wolfe Research energy analyst.

“It’s genius. It’s certainly a win-plus for

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