Anadarko Petroleum Corp, the U.S. oil and gas exploration and production company that agreed this month to sell itself to Chevron Corp for $33 billion, decided on Sunday to begin negotiations to sell itself to Occidental Petroleum Corp instead, according to people familiar with the matter. The bidding war for Anadarko underscores the value of its assets in the lucrative Permian Basin of West Texas and New Mexico. The vast shale field holds oil and gas deposits that can produce supplies for decades using low-cost drilling techniques. Anadarko’s board of directors has decided that Occidental’s $38 billion cash-and-stock bid could lead to a deal that would be superior to the one it has with Chevron, the sources […]