Preheat oven to 350º F (176ºC).
Thoroughly grease two 9-inch round cake pans with olive oil. Optional: You could also lightly dust pans with some cocoa powder and flour after greasing them to doubly ensure the cake won't stick at all (a mixture of about 1 tablespoon each, and don't forget to get rid of the excess by tapping out the pan).
In a medium bowl, combine flour, sugar, cocoa powder, salt, baking soda, and baking powder.
In a large bowl, use an electric mixer to beat oil, buttermilk, eggs, and vanilla.
Add the dry ingredients from the medium bowl, combine and mix on low speed. Don’t overmix.
Add water and mix again to combine it all together. Don’t overmix. Don’t worry, the batter will be thin.
Pour the batter into the pans and bake for 25 min or just until a toothpick/fork poked into the center comes out clean. Cool for 10 minutes before removing cakes from the pans.