Yahoo Finance LONDON – The prospect of Exxon Mobil or Chevron buying European majors has receded after the two leading U.S. oil companies announced major acquisitions focused on the Americas this month, investors said. Speculation that Chevron and Exxon might try to buy rivals BP and Shell intensified over the last two years as the European majors underperformed their U.S.
World Oil (WO) — Chevron Corporation has entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt,
Nasdaq HOUSTON- For the past four years, the United States protected oil refiner Citgo Petroleum from creditors seeking to seize Venezuela’s foreign crown jewel for billions of dollars in claims. But on Monday, a U.S. judge will kick off an auction expected to place the Houston-based company in the hands of rivals or investors. The auction could start a new
World Oil (Bloomberg) – A hot spot for Canadian oil drillers is emerging in a tiny corner of eastern Alberta, drawing companies including Canadian Natural Resources Ltd. and Baytex Energy Corp. in search of cheaper, lower-emissions heavy crude. Oil drillers have applied for 81 licenses to drill into the so-called Waseca formation so far this year, 30 more than in
Oil Price Unprecedented uncertainty in natural gas demand and policies and low levels of investment in new production risk creating fresh energy crises and undermining energy security and climate goals as it would stall the move away from coal, the International Gas Union (IGU) said in a new report this week. Investments in production and liquefaction recovered somewhat last year, rising by
World Oil (Bloomberg) – Venezuela has an opportunity to resuscitate the linchpin of its economy — oil — now that U.S. sanctions have been relaxed. The surprise move on Oct. 18 allows international companies to apply the full weight of their expertise and technology to crude fields and infrastructure that atrophied amid years or underinvestment, civil turmoil and international isolation. Here’s
CNBC Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas. Oil slips as investors watch diplomatic moves in Gaza war Brent crude futures fell 63 cents, or 0.7%, to $91.53 a barrel, as of 9:41 a.m.
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