Chevron Corp reported Q3 results, with adjusted net earnings of $4.53 billion, and a quarterly dividend of $1.63 per share. The company plans to reduce costs and divest assets to improve performance.
Chevron and Canadian Natural Resources reached a $6.5 billion deal for Chevron's stake in oil and gas projects, part of Chevron's plan to divest assets.
Exxon Mobil and Mitsubishi Corporation inked an agreement for low-carbon hydrogen and ammonia production in Baytown facility, expected to be the world's largest of its kind. Final decision in 2025, startup in 2029.
ConocoPhillips and Marathon Oil received Second Request from FTC for merger; expected to be completed in Q4 2024 pending approvals and stockholder approval.
ConocoPhillips has reportedly won the right to enforce a $1.33 billion claim against Venezuela for past expropriations. They are also involved in a court case to recover money owed for the expropriation of their assets.
Several analysts expressed their views on ConocoPhillips' deal to acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 billion.
Analyst expects COP to have a negative reaction vs. its peers today. ConocoPhillips announced its plan for the acquisition of Marathon Oil. Can gain exposure through IEO and WEEI.
Marathon Oil shares up 7.45% and ConocoPhillips shares down 3.56% after deal announcement for ConocoPhillips to acquire Marathon Oil for $22.5 billion in all-stock transaction.
