Pursuant to the Aug '19 acquisition by Oxy of Anadarko, and the subsequent sale to Total of most assets, the latter announces today the intended deal to acquire those assets involved cannot be concluded. This leaves Occidental with sizeable assets in the country, which Sonatrach is unlikely to take on as earlier suggested using its pre-emption rights, its financial clout having been reduced under the current industry crisis.
Pursuant to the Aug '19 acquisition by Oxy of Anadarko, and the subsequent sale to Total of most assets, the latter announces today the intended deal to acquire those assets involved cannot be concluded. This leaves Occidental with sizeable assets in the country, which Sonatrach is unlikely to take on as earlier suggested using its pre-emption rights, its financial clout having been reduced under the current industry crisis.