shale oil

Chevron to buy Hess Corp for $53 bln in all-stock deal

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Chevron to buy Hess Corp for bln in all-stock deal

Chevron Corp said on Monday it will buy smaller rival Hess Corp in a $53-billion all-stock deal, as the oil major looks to increase its footprint in oil-rich Guyana. The deal puts two of the top oil giants, Chevron and Exxon Mobil, head-to-head in two of the world’s fastest growing oil basins – shale and … Read more

Oil prices have doubled in a year. Here’s why

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Oil prices have doubled in a year. Here’s why

It’s a good day for OPEC. Data published Monday by the oil cartel show its members have largely complied with an agreement to slash production. The confirmation caps a remarkable year for OPEC, which was forced to devise a plan to boost prices after they fell to $26 per barrel in February 2016. The price … Read more