Chevron to buy Hess as the biggest US oil companies get even bigger

Published: Oct. 23, 2023, 6:35 a.m.NEW YORK — Chevron is buying Hess Corp. for $53 billion as the biggest U.S. oil companies use a recent windfall in profits to buy up smaller competitors.after Exxon Mobil said it would acquire Pioneer Natural Resources for about $60 billion.

Chevron said in a press release Monday that the acquisition of Hess adds a major oil field in Guyana as well as shale properties in the Bakken Formation in North Dakota.If you purchase a product or register for an account through a link on our site, we may receive compensation.

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