Mining & Energy
Total says committed to Mozambique gas project despite insurgency - AFP
Two days before Occidental Petroleum Corp.’s corporate jet traveled to Warren Buffett’s hometown, it also visited Paris, according to flight-tracking data.
Information on FlightAirMap shows the Gulfstream V belonging to the company flew to the city on April 26.
The Paris visit came two days after Houston-based Occidental went public with its $38 billion unsolicited takeover offer for Anadarko Petroleum Corp. Occidental said it will sell as much as $15 billion of assets as part of the deal, and that Anadarko’s liquefied natural gas export project in Mozambique could be divested at some point. Chevron Corp. had announced a $33 billion offer for Anadarko on April 12.
Occidental may have paid a visit to Total SA, Don Bilson, who heads the event-driven research team at Gordon Haskett Research Advisors LLC, speculated in an interview on CNBC Wednesday. The French energy giant is a major player in the LNG market, and has a network of gasoline service stations in Mozambique.
Representatives for Total and Occidental didn’t immediately respond to requests for comment.
Flight data showed the same jet was in Omaha, Nebraska — where Buffett’s Berkshire Hathaway Inc. is based — on April 28. On Tuesday, Occidental announced that Buffett had committed to $10 billion of funding to back the oil company’s Anadarko bid.
By Simon Casey and Rachel Adams-Heard
— Kevin Crowley (@CrowleyKev) May 1, 2019
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