The newspaper reported that Chevron CEO Michael Wirth and Exxon CEO Darren Woods spoke about the prospect after the Covid-19 pandemic began to negatively impact oil prices.
The talks are not ongoing and were described as preliminary, according to the Journal. Representatives from the two companies declined to comment. The talks were later reported by Reuters. A merger between Chevron and Exxon would be among the largest in history, and would likely face antitrust scrutiny from President Joe Biden's Department of Justice. Both companies descend from John D. Rockefeller's Standard Oil, which was broken up by the Supreme Court in 1911.
Chevron's market cap is $164 billion, and Exxon's is $189 billion, meaning that the combined company would be worth north of $350 billion. The combined firm would be the second largest oil and gas company in the world, after Saudi Aramco.and worries of new coronavirus variants.for the TV livestream, deep insights and analysis on how to invest during the next presidential term.
Big oil isn’t big enough
Necessary to overcome beijingbiden and his purveyors of climate change mythology crew
An excuse to lay off tens of thousands of workers. 'Cleaning house' by making half the staff redundant. Chevron is Chevron Texaco. They merged some 15 years ago. Exxon is ExxonMobil, another merger.
So glad that I based my portfolio around Kelly Loeffler’s.
Who'd be the daddy?
They’re going need to sooner or later as consolidation will be needed as the business model pivots for O&G.
More good news please(((
2021, Standard Oil is back!