ExxonMobil and Chevron announced major acquisitions of U.S. firms to enhance their domestic oil presence and tap into the rich reserves of Guyana.
ExxonMobil and Chevron have just announced mega acquisition deals to buy U.S. firms, which will boost the footprint of the U.S. oil supermajors in their domestic upstream market and the hottest exploration success of the past few years, Guyana.
Guyana is more politically stable than other parts of the world and closer to the United States—efficient for crude exports to America. In a sign of operations being disrupted by geopolitical turmoil, weeks before the announced acquisition of Hess, Chevron was ordered by Israel to shut down production at the offshore Tamar gas field following the Hamas attack.
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