Anadarko Petroleum Corp said on Monday it would negotiate with Occidental Petroleum Corp over its $38 billion cash-and-stock bid, after determining it could get a better deal than its agreed $33 billion sale to Chevron Corp. The development represents a breakthrough in Occidental Chief Executive Vicki Hollub’s two-year effort to buy Anadarko, one of the top U.S. oil and gas producers in the lucrative Permian Basin in Texas and New Mexico. Anadarko announced a deal with Chevron on April 12 after snubbing a higher bid from Occidental, prompting Occidental to try to upend the Chevron deal. “We hope Anadarko will proceed quickly to secure this superior transaction for its shareholders,” an Occidental spokeswoman said. Anadarko said its board had unanimously decided that Occidental’s offer could result in a “superior […]