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Chevron to buy Hess Corp for $53 billion in all-stock deal

LONDON (Reuters) -Chevron Corp said on Monday it would buy smaller rival Hess Corp in a $53 billion all-stock deal, taking its rivalry with Exxon Mobil to the next level by boosting its presence in U.S. shale and oil-rich Guyana. Given that Exxon Mobil had effectively taken itself out of the running for large-scale M&A following the recent Pioneer deal, we would have thought Chevron could bide its time, and hence we are a little surprised at the timing of this deal. It does address the concerns with Chevron's portfolio - namely over concentration in the Permian and lack of depth in growth elsewhere, however it comes at a price given the relative multiples between the two companies. ....

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BP Begins Search for New CEO with No Clear Front-runner

BP CEO Bernard Looney's abrupt resignation has thrown the British oil major into a leadership crisis with no groomed front-runner to succeed him… ....

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OPEC+ agrees small oil production cut

By Alex Lawler, Ahmad Ghaddar and Maha El Dahan LONDON (Reuters) - OPEC and its allies led by Russia on Monday agreed a small oil production cut to ....

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Exclusive-Vitol made record net profit in 2021 -sources

Breaking News, Latest News and Current News from OANN.com. Breaking news and video. Latest Current News: U.S., World, Entertainment, Health, Business, Technology, Politics, Sports. ....

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Oil prices steady, but set for big weekly loss on demand worries

Oil prices steady, but set for big weekly loss on demand worries
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

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