Please ensure Javascript is enabled for purposes of website accessibility

Anadarko Selling China Subsidiary for $1.08 Billion

By Associated Press – Feb 18, 2014 at 11:18AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The China sale is expected to close this year.

HOUSTON (AP) -- Oil and gas company Anadarko Petroleum Corp. is selling its Chinese subsidiary for about $1.08 billion as it focuses more in North America.

Chinese energy company Brightoil Petroleum (Holdings) Ltd. is buying the unit, which owns Anadarko's stake in the Bohai Bay field off the coast of China.

Anadarko is shedding some international assets. It said last year that it was selling part of its stake in a property off of Mozambique for $2.64 billion.

But Anadarko has expanded its ownership in the Gulf of Mexico and boosted its U.S. capacity.

The Woodlands, Texas-based Anadarko said late Monday that the China sale is expected to close this year.

The Motley Fool has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Nearly 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
349%
 
S&P 500 Returns
115%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 12/01/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.