Caixin
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Chevron
雪佛龙
NEWS
company-info
The duo dispute the U.S. giant’s takeover of Hess that would give it access to a South American offshore oil and gas field, of which Exxon and Beijing-based CNOOC own 45% and 25%, respectively
Mar.29 2024 16:49 PM
company-info
  • In 2023, global oil and gas upstream M&A exceeded $270 billion, with significant deals in the U.S. shale sector, including Exxon Mobil's acquisition of Pioneer Natural Resources for about $65 billion and Chevron's purchase of Hess Corporation for $60 billion.
  • The surge in acquisitions reflects a strategic focus on energy security and the reevaluation of fossil fuels amidst challenges to renewable energy's cost, supply chain, efficiency, and stability. U.S. companies are notably aggressive in consolidating assets, particularly in the Permian Basin.
  • The trend contrasts with European firms' continued commitment to carbon reduction and renewable energy investments. However, geopolitical tensions and the need for energy security are prompting a global reassessment of oil and gas assets, with potential implications for future industry consolidation both within and beyond North America.
Feb.24 2024 14:34 PM
company-info
America’s biggest oil gushers are shrinking, evidence that companies have drilled through much of their best wells
Mar.10 2023 13:16 PM
company-info
Issues such as the transition to clean energy and tensions between Beijing and Washington have made once active Chinese SOEs wary of buying assets abroad
Oct.4 2021 14:15 PM
company-info
Until now, gas has appeared to escape any impact of the worsening crisis, which has so far affected trade in coal, wine, barley and other commodities
Nov.12 2020 16:16 PM
company-info
$970 million acquisition by Swiss mining giant includes refinery, gas stations
Oct.9 2017 19:06 PM
$900 million deal is latest in major Chinese oil company’s overseas buying spree
Mar.23 2017 16:30 PM
company-info
Government approval is final hurdle for military-affiliated oil producer’s $2 billion purchase
Feb.27 2017 17:28 PM