Occidental Petroleum has taken the lead in the race to acquire Anadarko Petroleum, after the latter deemed Oxy’s latest proposal “superior” to the $50 billion merger agreement it reached last month with Chevron, which now looks set to be dropped.
The latest development came after Oxy agreed a deal with Total that would see the French supermajor take over Anadarko’s Africa assets should Oxy’s proposal prevail.
