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BACKGROUND PHOTO: The headquarters of Occidental Petroleum Corp. are photographed in Los Angeles, California on September 16, 2013. REUTERS / Mario Anzuoni
(Reuters) – Anadarko Petroleum Corp., a US-based oil and gas exploration and production company that agreed to sell Chevron Corp for $ 33 billion this month, decided Sunday to start negotiations to sell to Occidental Petroleum Corp, according to people familiar with the subject.
Anadarko's board of directors has ruled that the $ 38 billion Western purchase and purchase offer could lead to a deal higher than Chevron's, the sources said.
Anadarko will now begin negotiations with Occidental to see if he can reach an agreement, the sources added.
There is no certainty that Occidental, who was arguing with Anadarko before Chevron got his approval, would be able to sign his own deal, the sources said. If this is the case, the Anadarko contract will give Chevron the opportunity to align with the contract signed with Occidental.
The sources asked not to be identified because the case is confidential.
Anadarko, Occidental and Chevron did not immediately respond to requests for comment.
Report by David French and Carl O Donnell in New York; edited by Richard Pullin
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