Chevron is Buying Hess for $53 Billion #oil #oilandgas #crudeoil #gas

Chevron is buying Hess for $53 billion in stock, marking the second major merger in the U.S. oil industry after Exxon Mobil's $60 billion bid for Pioneer Natural Resources. This deal intensifies competition between Chevron and Exxon and highlights Chevron's commitment to fossil fuel investments. Chevron is offering $171 per Hess share, The acquisition is set to close in the first half of 2024, with Hess Corp CEO John Hess joining Chevron's board of directors.
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