ExxonMobil's $60 billion Pioneer deal signals era of 'extreme consolidation' for oil industry

gives ExxonMobil massive scale in the Permian Basin, allowing it to double its footprint in the largest oil-producing region in the US and strengthen its upstream portfolio. Upstream refers to the initial phases of oil and gas production like exploration, drilling, and extraction.

Analysts note consolidation has been a way of life in the oil patch for some time. In recent years, supermajor Chevron Pioneer shares had soared last week amid speculation that ExxonMobil would buy Pioneer at a value of up to $60 billion.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Business groups applaud Supreme Court ruling against federal environmental impact lawThe loudest cheering came from Alberta, where industry leaders saw the 2019 legislation as a roadblock to development of oil and gas infrastructure and other energy-related projects.
مصدر: calgarysun - 🏆 63. / 52 اقرأ أكثر »

Big Banks jump on earnings, Microsoft closes Activision deal, oil surges: Yahoo Finance LiveJPMorgan (JPM), Citigroup (C), and Wells Fargo (WFC) kicked off big bank earnings this morning. All three banks reported higher profits in the third quarter,...
مصدر: YahooFinanceCA - 🏆 47. / 63 اقرأ أكثر »