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Posts tagged to oil and gas

Chevron buys Anadarko: $33bn purchase is big move into US shale

MarketLine

For now the purchase of Anadarko Petroleum Corporation – a company that in 2018 registered $13bn in revenue but which consistently lost billions of dollars each year before turning a profit in 2018 – remains the largest of its type and places Chevron level with ExxonMobil and Royal Dutch Shell in terms of production. Last year the newly combined company would have generated greater revenues than ExxonMobil. Investing so heavily reveals the degree of confidence big oil players have in shale gas extraction. The scale of operations such companies will… Read more