Reported 4 months ago
The article discusses major mergers and acquisitions in the oil and gas industry, including Hess being acquired by Chevron for $53 billion and ConocoPhillips acquiring Marathon Oil for $17.1 billion. These deals reflect a trend of larger companies consolidating power in the industry. Challenges such as regulatory scrutiny and antitrust enforcement may arise, particularly in the case of Chevron's deal with Hess facing opposition from ExxonMobil over a lucrative oil reserve in the Guyana coast. Industry executives anticipate more mergers in the future to compete with larger players in the market.
Source: YAHOO