Noble Energy shareholders voted to approve the sale of the owner of East Mediterranean and Equatorial Guinea natural gas assets with LNG possibilities to US major Chevron for about $4.2 billion in shares.
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., a leading liquefied natural gas operator in Australia, said it was downgrading investment plans for other ventures such as the Kitimat LNG project in Western Canada, its US Appalachia shale activities in the US Northeast and some overseas projects.
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.