Chevron is buying Hess for $53 billion and it’s not even the biggest acquisition in the energy sector this month as oil prices surge.
The Chevron-Hess deal comes less than two weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion.Chevron is buying Hess Corp. for $53 billion and it’s not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge.
Upward pressure on oil prices are being applied from a number of fronts including the war in Ukraine. Oil markets are being stretched by cutbacks in oil production from Saudi Arabia and Russia, and now, a war between Israel and Hamas runs the risk of igniting a broader conflict in the Middle East. While attacks on Israel do not disrupt global oil supply, according to an analysis by the U.
And even with alarms being raised over climate change after a summer of record-smashing temperatures, elevated energy prices have driven more exploration and more drilling, and big payouts for investors.
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Chevron buys Hess for $53B in second mega oil merger this monthThe deal signals energy giants — flush with cash since oil prices spiked after Russia’s invaded Ukraine — are leaning into fossil fuels despite calls for cleaner options.
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Chevron Buys Hess for $53B as Oil Prices SurgeChevron is buying Hess Corp. for $53 billion, and it's not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge.
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Chevron to buy Hess Corp for $53B in second oil mega-merger in weeksChevron agreed to buy rival Hess for $53 billion in stock in a deal that reflects top U.S. energy companies' drive for oil and gas assets in a world seeking lower-risk future fossil supplies and higher shareholder returns.
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Chevron’s $53 billion Hess buyout is the 2nd biggest energy sector acquisition in 2 weeksThe deal comes after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion.
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Chevron to buy Hess for $53 billion, marking the second giant oil deal this monthChevron's purchase of Hess for $53 billion is the second energy industry megadeal this month amid a surge in oil prices.
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Oil giant Chevron buys rival Hess for $53 billion as oil prices surgeChevron-Hess deal comes less than two weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources.
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