30 articles | last updated: Aug 2 21:34:03
Chevron grapples with lower refining margins and delayed Hess acquisition, while ExxonMobil benefits from Pioneer deal and Guyana output.
- Chevron's second-quarter earnings fell 19%, missing Wall Street estimates due to weak refining margins and operational issues.
- The $53 billion acquisition of Hess by Chevron faces delays, with arbitration over Exxon's right of first refusal extending into 2025.
- Chevron announced plans to relocate its headquarters from California to Texas, citing regulatory challenges in its home state.
- ExxonMobil reported a 17% increase in profits, driven by record production levels in the Permian Basin and Guyana.
- Exxon's recent $60 billion acquisition of Pioneer Natural Resources contributed significantly to its earnings boost.
People, Places and Things In This Story
- Chevron Corporation Petroleum refineries company
- Guyana Country in South America
- ExxonMobil Natural gas company
- California US state
- Pioneer Natural Resources Company
- Texas US state
- Permian Basin Oil field
- Wall Street Street in New York
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