John Hess, chief executive officer of Hess Corp., speaks at the 2024 CERAWeek by S&P Global conference in Houston, Texas, US, on Tuesday, March 19, 2024. F. Carter Smith | Bloomberg | Getty Images The Federal Trade Commission has banned Hess Corp. CEO John Hess from Chevron‘s board as a condition for the oil companies’ … Read more
Gas pumps are seen at a Chevron gas station in Orlando. Paul Hennessy | SOPA Images | Lightrocket | Getty Images Chevron missed second-quarter earnings expectations, hurt by lower refining margins. The oil major also said Friday it is moving its headquarters from San Ramon, California, to Houston, Texas, with CEO Mike Wirth relocating by … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market pressure : The major stock benchmarks were moving lower Wednesday, with the Dow getting the worst of it again. Adding pressure on equities, bond yields … Read more
ConocoPhillips headquarters in Houston, Texas, US, on Tuesday, Oct. 31, 2023. Bloomberg | Bloomberg | Getty Images ConocoPhillips agreed on Wednesday to buy Marathon Oil in an all-stock transaction worth $17 billion that would bolster the company’s shale assets as the broader oil and gas industry undergoes a major wave of consolidation. The deal will … Read more
Jaap Arriens | Nurphoto | Getty Images Hess shareholders on Tuesday approved the New York-headquartered oil company’s pending acquisition by Chevron for $53 billion, even as the timeline for when the deal may close has become increasingly murky with the companies locked in a dispute with Exxon Mobil. A majority of outstanding Hess shares voted … Read more
Darren Woods, chairman and chief executive officer of Exxon Mobil Corp, speaks during the 2024 CERAWeek by S&P Global conference in Houston, Texas, US, on Monday, March 18, 2024. F. Carter Smith | Bloomberg | Getty Images Exxon CEO Darren Woods said Monday that the dispute with Chevron over Hess Corporation‘s oil assets in Guyana … Read more
Gas pumps are seen at a Chevron gas station in Orlando. Paul Hennessy | SOPA Images | Lightrocket | Getty Images Chevron beat earnings expectations Friday, but its profit fell from the year-ago period as its refineries and international gas business faced headwinds. Here is what Chevron reported for the first quarter compared with what … Read more
My top 10 things to watch Friday, April 26 Wall Street holds onto gains as rising bond yields take a breather Friday. New inflation data comes in a little hot for the second day in a row. The market, however, takes it in stride after U.S. stocks were hit hard Thursday on the GDP signaling … Read more
US Energy Secretary Jennifer Granholm speaks during the CERAWeek oil summit in Houston, Texas, on March 18, 2024. Mark Felix | AFP | Getty Images HOUSTON — The Biden administration this week sought to reassure skeptical oil and gas executives this week that a pause on liquified natural gas exports from new projects would be … Read more
HOUSTON — Exxon is not trying to acquire Hess as the oil major battles with Chevron over lucrative oil assets in Guyana, CEO Darren Woods said Monday. When asked directly, Woods told the CERAWeek by S&P Global energy conference that acquiring Hess is not one of Exxon’s objectives in the dispute with Chevron. Exxon would … Read more
