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Chevron is to buy smaller rival Hess in a $53-billion all-stock deal

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

Chevron has agreed to buy US rival Hess for $53 billion in stock in a deal that reflects top US energy companies drive for oil and gas assets in a world seeking lower-risk future fossil supplies and higher shareholder returns.

Business • 23 Oct 23

Today's deal would be Exxon's biggest since its $81 billion purchase of Mobil Oil in 1998

Exxon to buy shale rival Pioneer for nearly $60 billion

Exxon Mobil will buy US rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest US oilfield, securing a decade of low-cost production.

Business • 11 Oct 23

Exxon Mobil has struggled to maintain and grow production as old oil and natural gas projects suffer field decline and new investments take time to come online

Exxon Mobil earnings jump on higher oil prices

Exxon Mobil reported a big jump in third-quarter profits today on higher oil prices and refining margins, and said the production ramp-up at key new US oilfields was on track.

Business • 02 Nov 18

Rising output in the US has put a lid on oil price gains

Oil up on UK pipeline outage but US supply caps gains

Oil edged up towards $64 a barrel today, helped by a North Sea pipeline outage, OPEC-led supply cuts and jitters about threats to Middle East supplies after a missile was fired by a Yemeni group at the Saudi capital.

Business • 19 Dec 17

The price of oil has almost halved in the past few months

Oil falls back from early New Year gains

Brent crude pared early gains to trade near $57 a barrel today, as a glut of oil that has halved prices since June overshadowed investors repositioning at the start of the year for an eventual recovery.

Business • 02 Jan 15

Shale production has been hit by the falling price of oil worldwide

Oil prices edge lower in quiet trade

Oil dropped below $56 a barrel and was heading for its biggest annual decline since 2008, pressured by weakening demand and a supply glut prompted by the US shale boom and OPEC's refusal to cut output.

Business • 31 Dec 14

Commodity prices are today taking some support from a dip in the dollar

Brent oil rebounds after hitting five year low

Brent crude oil hit a fresh five-year low today before rebounding to near $67 a barrel, as some buyers emerged in the hope that prices are bottoming following a more than 40% slide since June.

Business • 09 Dec 14

US is seeing a surge in production from shale-based deposits in areas like North Dakota and Texas

US to allow oil exports for first time since 70s?

The US will allow two companies to export unrefined oil for the first time in four decades, taking steps to break a ban on crude exports, US media reports say.

Business • 25 Jun 14