Chevron Acquires Hess Corp in $53 Billion Energy Sector Power Move
Chevron's acquisition of Hess Corp is the largest oil and gas deal in over a decade.
The deal will create one of the world's largest energy companies, with a combined market value of over $300 billion.
Chevron CEO Mike Wirth said the deal will "create a stronger company with a more diversified portfolio."
Hess CEO John Hess said the deal is "a great opportunity for our shareholders and employees."
The deal is expected to close in the first half of 2023.
The acquisition is a sign of consolidation in the energy sector, as companies look to reduce costs and improve efficiency.
The acquisition is a sign of consolidation in the energy sector, as companies look to reduce costs and improve efficiency.
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