Oil: Anadarko’s Algerian assets will not be owned by Total

For the French group Total, it’s a rebound that would have gone well. The French company was told by its American ally Occidental that it could not acquire Anadarko’s oil assets in Algeria as planned. « Occidental has officially told us that we could not acquire [Anadarko’s] assets in Algeria, » Total CEO Patrick Pouyanné announced during a conference call with financial analysts on May 4. As a reminder, after Total concluded an agreement in May 2019 with the American company Occidental Petroleum with a view to buying Anadarko’s African assets (including those located in Algeria), Algiers had indicated its opposition to the project and in December indicated that its state-owned company Sonatrach was going to exercise its right of pre-emption over Anadarko’s assets.