Hints and tips:
Related Special Reports
...Chevron does not own LNG infrastructure in the US but has agreements to purchase supply due to come online in the coming years — including at Venture Global’s CP2 terminal, which has not yet been approved...
...Chevron shares have increased 10 per cent this year to $164.65. After Friday’s results, Exxon’s shares fell 2.5 per cent while Chevron was off 0.2 per cent....
...Chevron acquisition....
...to derail the biggest acquisition in Chevron’s history....
...In a statement on Monday a Chevron spokesperson described the talks with Exxon and Cnooc as “constructive” and said that neither Chevron nor Hess believed the right of first refusal provision applied to...
...The move threatens to derail what is the biggest acquisition in Chevron’s history....
...Chevron’s fell from $6.4bn to $2.3bn....
...A year ago Chevron was flying high....
...But Chevron says even if Exxon were legally vindicated, the Chevron/Hess tie-up would be voided because the Stabroek stake travelling with the rest of Hess is a closing condition....
...Shares in Chevron have fallen 13 per cent over the past 12 months....
...Chevron is hoping it has struck an equally shrewd deal with the Hess family. On Monday Chevron said it would acquire Hess Corporation, the listed oil and gas driller, at an enterprise value of $60bn....
...Wirth has insisted Chevron’s mega-deal wasn’t influenced by the former....
...And in acquiring Hess, Chevron will become one of the largest producers in the Bakken Formation (and gains a foothold in Guyana, where Exxon already has a leading presence)....
...Alex Beeker, analyst at Wood Mackenzie, said Chevron’s purchase of Hess helped to diversify Chevron’s portfolio of oil assets, which until now have been very concentrated in the Permian Basin of Texas and...
...Exxon boasts a market value of about $480bn versus $300bn for Chevron, $230bn for Shell and $110bn for BP....
...“Chevron and Shell are oil majors and if they can’t get it right, who can?”...
...Certainly Chevron has confidence in this outcome....
...“By no means are Exxon or Chevron done,” said Andrew Dittmar, an analyst at Enverus. “[But] we’ve seen their moves for this particular wave....
...He said his own leadership of Chevron is defined by “capital discipline”....
...The steady stream of oil output should help sustain Exxon’s — and now Chevron’s — crude business for decades....
...Chevron’s outlay over the period rose to $11.5bn from $8.1bn last year....
...I’m going to be joining the Chevron board and I intend on having my voice heard on the energy transition.”...
...In October two US oil and gas giants announced massive deals: Chevron bought Hess, and ExxonMobil acquired Pioneer Natural Resources....
...Days later, Chevron struck a deal to purchase Hess at an EV of $60bn. Both of deals are all-share transactions. This allows Exxon and Chevron to eschew pricey debt. That will not be the case for Oxy....
...Chevron also said on Sunday that Pierre Breber, its chief financial officer will retire next March after a 35-year career at the company....
International Edition