Business Briefs

Anadarko to divest its Bohai Bay, China, subsidiary

Feb. 18, 2014

Anadarko Petroleum Corp. has entered into a stock purchase agreement with a wholly owned subsidiary of Brightoil Petroleum (Holdings) Ltd., whereby Anadarko will divest its Chinese subsidiary for $1.075 billion.

Offshore staff

HOUSTON – Anadarko Petroleum Corp. (NYSE: APC) has entered into a stock purchase agreement with a wholly owned subsidiary of Brightoil Petroleum (Holdings) Ltd., whereby Anadarko will divest its Chinese subsidiary for $1.075 billion.

The subsidiary to be divested owns Anadarko’s non-operating interest in the Bohai Bay field. The transaction is expected to close later this year.

02/18/2014