Anadarko Petroleum

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Anadarko Petroleum Corporation

logo
legal form Corporation
ISIN US0325111070
founding 1959
Seat The Woodlands , Texas , United StatesUnited StatesUnited States 
management RA Walker (Chairman, President and CEO )
Number of employees 6100
sales 16 billion US dollars
Branch Petroleum, natural gas
Website www.anadarko.com
As of December 31, 2014

Anadarko Petroleum was a US company headquartered in The Woodlands , Texas .

Anadarko Petroleum extracted and sold oil and gas to its customers. The company employed around 6,100 people and had total sales of over 16 billion US dollars in 2014 . It was last directed by "Al" RA Walker. In 2019, Anadarko Petroleum was merged into Occidental Petroleum .

history

In 1959 the "Anadarko Production Company" was founded as a subsidiary of the Panhandle Eastern Pipe Line Company . The subsidiary received all of the mother's gas fields, most of which are in the Hugoton Basin . In 1965, the Ambassador Oil Corporation is taken over and the headquarters relocated to Fort Worth . In the 1980s there were lawsuits with the Algerian Sonatrach when Anadarko refused, as contractually agreed, to buy Algerian liquefied natural gas . In reparation, Sonatrach receives $ 300 million from Panhandle . 1985 Anadarko becomes independent. Further acquisitions followed in 2000 and 2001 ( Union Pacific Resources and Berkley Petroleum Corporation ).

In 2006, Western Gas Resources and Kerr-McGee , which had suffered major environmental crimes in the past, were acquired.

In 2015, Anadarko was convicted of rocket fuel and radioactive waste pollution committed by daughter Kerr-McGee between 1965 and 1975 in a settlement of $ 5.15 billion. The US judiciary has declared an attempted outsourcing of obligations to Tronox , which has become insolvent, to be illegal. In Brazil , Anadarko was one of the companies that tried in 2015 to obtain a concession to produce natural gas by hydraulic fracturing in the Amazon basin . The project aroused fierce opposition from environmentalists and the Indian peoples living there.

On April 12, 2019, Chevron announced plans to acquire Anadarko Petroleum, which has a cash and stock business valued at $ 33 billion. Occidental Petroleum then made a higher counter offer with the help of US investor Warren Buffett , which Anadarko's management approved on May 7th. The necessary approval from the shareholders is still pending, but Chevron announced on May 9, 2019 that it would withdraw from the bidding war.

environmental pollution

Oil spill in the Gulf of Mexico in 2010

Anadarko held 25 percent of the drilling license for the Macondo oil field , in which one of the worst oil disasters in the Gulf of Mexico occurred in 2010 . After an initial claim of $ 272 million, which Anadarko had rejected for gross negligence on the part of partner BP , an agreement was reached in October 2011: Anadarko pays 4 billion dollars to BP and also cedes its Macondo stake in BP, taking over for it BP all other claims settlement risks.

Uranium mining

Kerr-McGee , acquired by Anadarko in 2006, has contaminated several US sites over a period of 85 years. Toxic substances have been discharged into the groundwater and uranium has been released into the environment. The company tried to avoid fines by outsourcing the defendant areas to a special company ( Tronox ). A judge ruled in December 2013 that this outsourcing was fraud. Native people from the Navajo tribe complain that Kerr-McGee has contaminated areas that they use for religious ceremonies and for hunting. To discourage children from bathing in contaminated water, the Navajo distributed a special comic booklet. The plaintiffs included the Navajo reservation in the southwest of the USA, the federal government and eleven states as well as environmental groups. On April 4, 2014, the United States government announced that it had agreed to pay a record fine of $ 5.15 billion.

Plutonium processing

The acquired company Kerr-McGee had already made negative headlines after a series of scandals in the plutonium processing plant Cimarron Fuel Fabrication Site , which were exposed by the union activist Karen Silkwood . This scandal gained international fame in 1983 through the film adaptation of Silkwood with Meryl Streep in the lead role.

Web links

Individual evidence

  1. ↑ a b c Annual Report 2014
  2. ^ Anadarko Petroleum Corporation History at fundinguniverse
  3. ↑ Anadarko Completes Kerr-McGee Acquisition; Combination Creates Leading Positions in Two of North America's Most Prolific Producing Regions; Portfolio to Be Optimized Through Asset Sales , August 10, 2006
  4. ^ Department of Justice : Historic $ 5.15 Billion Environmental and Tort Settlement with Anadarko Petroleum Corp. Goes into Effect , January 23, 2015
  5. ^ State is auctioning fracking licenses in the Amazon , accessed on November 18, 2015.
  6. ↑ Anadarko and Occidental: Warren Buffett interferes in takeover battle for US oil company. Retrieved May 23, 2019 .
  7. ^ David Faber: Occidental bid more than $ 70 a share for Anadarko and is now considering options: Sources. April 12, 2019, accessed May 23, 2019 .
  8. ↑ Reuters: In the bidding competition for oil producer Anadarko, pressure is increasing on Chevron. Retrieved May 23, 2019 .
  9. ↑ Economy, trade & finance: Chevron leaves the bidding war for Anadarko - Occidental probably at its destination. Retrieved May 23, 2019 .
  10. ↑ Frankfurter Rundschau: The dark sister of BP
  11. ↑ Anadarko and BP settle Deepwater Horizon dispute
  12. ↑ Oil company pays a record sum for environmental damage. on faz.net , accessed April 4, 2014
  13. ↑ US energy company pays record fine for pollution. on sueddeutsche.de , accessed on April 4, 2014
  14. ↑ United States Announces $ 5.15 Billion Settlement of Litigation Against Subsidiaries of Anadarko Petroleum Corp. to Remedy Fraudulent Conveyance Designed to Evade Environmental Liabilities. on justice.gov , accessed April 4, 2014