Oil Industry Consolidation in the Legislative Spotlight ...Middle East

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Oil Industry Consolidation in the Legislative Spotlight
source : OILPRICE ( Middle East ) () 50
U.S. oil and gas companies spent a combined $250 billion in mergers and acquisitions last year. More than half of that came from just two megadeals: Exxon's acquisition of Pioneer Natural Resources and Chevron's takeover of Hess Corp. The buying spree, according to analysts, was mostly motivated by a drive to secure future production at a relatively low cost while there's cash in the bank after the record-breaking 2022. Analysts have commended the attitude to energy supply security. Congress Democrats, however, have not. It was only a…

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