LNG

The bidding battle last year between Occidental Petroleum and Chevron Corp. for Anadarko Petroleum and its prized Mozambique LNG stake has brought a sharp change in fortunes for winner Occidental.

Chevron Corp. has pulled out of the bidding battle for Anadarko Petroleum and its Mozambique liquefied natural gas stake and US assets, leaving the way clear for Occidental Petroleum to acquire Anadarko and for French major Total to own the African and LNG assets.