Chevron drops $33 billion pursuit of Anadarko, hands win to Occidental

(Reuters) - Chevron Corp abandoned its pursuit of Anadarko Petroleum Corp on Thursday, outmanoeuvred by a higher rival bid of $38 billion (29.23 billion pounds) that included more than three times as much cash.The decision leaves Occidental Petroleum Corp as the likely victor in a contest that again proved the allure of U.S. shale. Occidental has said it plans to shed most of Anadarko's non-shale properties in a deal that cements its position in the Permian Basin, the top U.S. shale field. ..