October 24, 2023 BY Elizabeth Anderson

Chevron scoops up Hess for a staggering $53bn

This acquisition boosts Chevron’s existing portfolio, adding assets such as the Stabroek block in Guyana and Hess Bakken, which expands Chevron’s shale position and Permian basin operations. Hess chief executive officer (CEO), John Hess, is expected to join the Chevron Board of Directors. Chevron’s chairman and CEO, Mike Wirth, highlighted the two companies' similar values…

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