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Occidental Petroleum Corp. signed a $ 38 billion deal to purchase Anadarko Petroleum Corp. after Chevron Corp. has pulled out of the game, putting an end to one of the biggest dramas in energy sales in years.
In searching for Anadarko, Chevron and Occidental have coveted valuable assets at the heart of the American oil boom: the Permian basin of western Texas and New Mexico. The emergence of the Westerner as a winner means that she is now on the brink of swallowing a business almost as large as she grows in the region.
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