Chevron's $53 Billion Acquisition of Hess Creates Oil Megadeal
TL;DR Summary
Chevron has announced its plans to acquire Hess in an all-stock deal worth $53 billion, following Exxon Mobil's recent deal with Pioneer Natural Resources. This consolidation among oil-and-gas companies highlights the industry's continued reliance on fossil fuels, with Chevron aiming to upgrade and diversify its portfolio by entering into an Exxon-led partnership in Guyana and acquiring additional U.S. shale assets in North Dakota.
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