By walking away from a bidding war for a significant chunk of the lucrative Permian Basin, the energy giant put a much small rival in position to dominate the largest oil field in the United States. Source: NYT > Business – CLIFFORD KRAUSS
Anadarko Says It Now Favors Occidental Bid Over Chevron
Occidental and Chevron are competing to acquire Anadarko and its holdings in the Permian Basin. Chevron will now have four days to improve its bid. Source: NYT > Business – CLIFFORD KRAUSS
Occidental Offers Another Reason for Anadarko to Accept Its Bid
Occidental says it will sell off a slew of Anadarko investments and use the money to finance its purchase. The move is meant to counter Chevron’s deep pockets. Source: NYT > Business – CLIFFORD KRAUSS
Warren Buffett Backs Occidental’s Bid for Anadarko With $10 Billion Investment
Berkshire Hathaway said it will buy preferred stock in Occidental Petroleum to help it upstage Chevron’s proposed acquisition of Anadarko. Source: NYT > Business – CLIFFORD KRAUSS
Occidental Bids $38 Billion for Anadarko, Challenging Chevron
Occidental Petroleum unveiled a $38 billion bid for Anadarko Petroleum, challenging Chevron for control of the independent oil and gas company. Source: NYT > Business – CLIFFORD KRAUSS and MICHAEL J. de la MERCED
Blamed for Climate Change, Oil Companies Invest in Carbon Removal
Chevron, Occidental Petroleum and BHP have invested in Carbon Engineering, a start-up developing technology to take carbon out of the atmosphere. Source: NYT > Business – CLIFFORD KRAUSS