News about mega-deals in international power markets simply keeps on coming. US-based oil and gas manufacturers Chevron and ConocoPhillips each made the headings for mergers and procurement (M&A) deals today. See the headlines below:
- “Hess shareholders approve $ 53 billion Chevron deal amid conflict with Exxon over Guyana assets” [CNBC]
- “ConocoPhillips to acquire Marathon Oil in $ 22 5 bln sell latest energy merging” [Reuters]
Chevron Purchases Hess Oil In A Transfer To Take on Exxon’s Leading Setting
It was announced on 23 October 2023 that two of the biggest US oil and gas producers, Chevron and Hess, will combine in an offer worth $ 53 billion
You can access the link above to enjoy a full CNBC meeting about the merging manage CEOs of Chevron and Hess. Interestingly, Hess CEO John Hess opens the conversation by sharing a personal tale regarding his father driving a truck providing gas oil during the Great Depression in the United States; however he quickly changes the discussion to the business’s investors:
“We have actually always been guided by making the ideal long-term choices for our investors. This is the right lasting choice for our …