Occidental Petroleum Corp. announced May 18 its agreement to sell its assets in Ghana acquired from Anadarko Petroleum Corp. hit a snag, and the company will now market those assets to other companies.
Occidental acquired The Woodlands-based Anadarko in 2019 for $55 billion.
In a news release, Occidental said it entered into an agreement with energy company Total in August 2019 for Total to acquire the former Anadarko assets in Africa, of which the Mozambique and South Africa sales have been completed, according to Occidental.
However, the Ghana sale was contingent upon Occidental's sale of assets in Algeria, something Occidental learned it would not be in a position to do, it said in the release. Total therefore declined the Ghana purchase, according to the release.
