WVSNEWS.COM
  • Home
  • News
  • World News
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Finance
  • Stock
  • Technology
  • Travel
No Result
View All Result
  • Home
  • News
  • World News
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Finance
  • Stock
  • Technology
  • Travel
No Result
View All Result
WVSNEWS.COM
No Result
View All Result
Home Business

Exxon, Chevron Tie-up Not as Crazy as It Sounds

admin by admin
February 1, 2021
in Business
0
Exxon, Chevron Tie-up Not as Crazy as It Sounds
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Chevron buyers may be cautious about merging with Exxon because it faces scrutiny from securities regulators and activist buyers.



Picture:

Callaghan O’Hare/Bloomberg Information

Right this moment’s tech inventory exuberance is a flashback to the Nineteen Nineties. Now oil buyers are experiencing their very own déjà vu.

Exxon Mobil


XOM -0.30%

and

Chevron,


CVX 0.81%

the 2 largest descendants of Rockefeller’s Normal Oil monopoly, discussed a potential merger final yr, The Wall Road Journal reported on Sunday. The businesses’ shares barely moved Monday morning, maybe reflecting skepticism that such a deal can occur.

As over-the-top as the concept sounds—it could possibly be the biggest company merger ever—it isn’t inconceivable. Right this moment’s oil market circumstances look comparable to people who made oil megamergers doable beginning within the late Nineteen Nineties when the Asian monetary disaster led to a sudden collapse in international progress and oil demand. The ensuing glut significantly weakened power giants, resulting in price cuts and paving the way in which for large tie-ups. Each Covid and Asia’s disaster, respectively.

That backdrop was what preceded Exxon’s merger with Mobil in 1999, primary and two within the U.S. on the time. Chevron’s 2001 nuptials with Texaco introduced collectively what had been then numbers two and three. Mixed, Exxon and Chevron would fulfill about 4.3% of worldwide oil demand—solely a share level greater than ExxonMobil’s share a yr after their merger.

It’s unclear how shut the deal is to materializing. Antitrust considerations apart, Chevron buyers may be cautious about merging with Exxon because it faces scrutiny from securities regulators and activist investors.

However the information is a transparent signal of how weakened the power markets have grow to be. A mix would carry no less than 4 of Normal Oil’s items again collectively. On the top of its dominance, Normal Oil managed 95% of U.S. refining—lengthy earlier than anybody realized there have been huge petroleum deposits in locations like Saudi Arabia, Iran and Venezuela and a long time earlier than state firms turned the actual “Massive Oil.”

The mere indisputable fact that Exxon and Chevron are contemplating the as soon as unthinkable reveals that their executives grasp the enormousness of the oil market’s challenges.

An abundance of fossil fuels mixed with advances in expertise to harness wind and solar energy has despatched power costs crashing all over the world. WSJ explains the way it all occurred without delay. Picture illustration: Carlos Waters/WSJ (Initially printed July 21, 2020)

Write to Jinjoo Lee at jinjoo.lee@wsj.com

Copyright ©2020 Dow Jones & Firm, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



Source link

admin

admin

Related Posts

Former JPMorgan Banker Acquitted in ‘Sons and Daughters’ Bribery Trial
Business

Former JPMorgan Banker Acquitted in ‘Sons and Daughters’ Bribery Trial

February 2, 2021
Silver Rally Runs Into Roadblock as Margins Rise, Warnings Mount
Business

Silver Rally Runs Into Roadblock as Margins Rise, Warnings Mount

February 2, 2021
Merchant vessel enters Iranian waters after interaction
Business

Indonesian air crash investigators send plane parts to U.S., UK for checks By Reuters

February 2, 2021
Next Post
The Gerrymander Battles Loom, as G.O.P. Looks to Press Its Advantage

The Gerrymander Battles Loom, as G.O.P. Looks to Press Its Advantage

First Blood to Europol as ‘Sly’ forgers caught using Sylvester Stallone in fake passports scam

First Blood to Europol as 'Sly' forgers caught using Sylvester Stallone in fake passports scam

Tampa Bay makes best of Super Bowl week amid sour economy economy Tampa Bay coronavirus pandemic Hillsborough County none

Tampa Bay makes best of Super Bowl week amid sour economy economy Tampa Bay coronavirus pandemic Hillsborough County none

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Marcus Rashford: Man Utd striker receives racist abuse following draw with Arsenal | Football News

Marcus Rashford: Man Utd striker receives racist abuse following draw with Arsenal | Football News

2 months ago
GCSE and A level exams cancelled and replaced by teacher-assessed grades

GCSE and A level exams cancelled and replaced by teacher-assessed grades

3 months ago
Fannie, Freddie Taxpayer Stake Won’t Be Restructured Under Trump

Fannie, Freddie Taxpayer Stake Won’t Be Restructured Under Trump

3 months ago
Pandemic housing boom means affordability is no longer just a big-city problem

Pandemic housing boom means affordability is no longer just a big-city problem

3 months ago

Categories

  • Business
  • Entertainment
  • Finance
  • Lifestyle
  • News
  • Politics
  • Sports
  • Stock
  • Technology
  • Travel
  • World News
No Result
View All Result

Highlights

Trump’s Lawyers Are Unlikely to Focus on Election Fraud Claims

Former JPMorgan Banker Acquitted in ‘Sons and Daughters’ Bribery Trial

Stephen Colbert Digs Up Questionable Past Of Trump’s New Defense Team – Deadline

Rishabh Pant: How wicketkeeper went from back-up to India’s Ben Stokes | Cricket News

Meet the Redditors behind the GameStop saga

FinCEN Files Investigation Leads To New Banking Laws

Trending

U.S. IPO market faces first big test of 2021 By Reuters
Stock

How a GameStop share pullback could hurt some investors By Reuters

by admin
February 2, 2021
0

© Reuters. FILE PHOTO: A GameStop retailer is pictured in New York By Ross Kerber, April...

Mapping coronavirus anti-lockdown protests around the world | Coronavirus pandemic News

Mapping coronavirus anti-lockdown protests around the world | Coronavirus pandemic News

February 2, 2021
Calgary city council votes to reduce residential speed limits to 40 km/h – Calgary

Calgary city council votes to reduce residential speed limits to 40 km/h – Calgary

February 2, 2021
Trump’s Lawyers Are Unlikely to Focus on Election Fraud Claims

Trump’s Lawyers Are Unlikely to Focus on Election Fraud Claims

February 2, 2021
Former JPMorgan Banker Acquitted in ‘Sons and Daughters’ Bribery Trial

Former JPMorgan Banker Acquitted in ‘Sons and Daughters’ Bribery Trial

February 2, 2021

LOGO

WNSNEWS.COM is your NEWS, WORLD NEWS, POLITICS, BUSINESS, ENTERTAINMENT, LIFESTYLE, SPORTS, FINANCE, STOCK, TECHNOLOGY, TRAVEL. We provide you with the latest breaking news and videos straight from the news industry.

Recent News

  • How a GameStop share pullback could hurt some investors By Reuters February 2, 2021
  • Mapping coronavirus anti-lockdown protests around the world | Coronavirus pandemic News February 2, 2021
  • Calgary city council votes to reduce residential speed limits to 40 km/h – Calgary February 2, 2021

Categories

  • Business
  • Entertainment
  • Finance
  • Lifestyle
  • News
  • Politics
  • Sports
  • Stock
  • Technology
  • Travel
  • World News

Popular News

No Content Available

@2020 - All Right Reserved. www.wvsnews.com

No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.