US EditionWhy ExxonMobil Is Reassessing Its M&A Strategy
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Why ExxonMobil is reassessing its M&A strategy
After losing an arbitration battle to block Chevron’s $53 billion acquisition of Hess, ExxonMobil is scouting for its own oil patch deals, The Wall Street Journal writes. CEO Darren Woods says ExxonMobil isn’t interested in buying for scale alone—it’s looking for acquisitions that enhance long-term value, like its $60 billion purchase of Pioneer Natural Resources in 2023. The comments come as both ExxonMobil and Chevron reported weaker second-q…
Between April and June, the American oil company earned US$81.5 billion, representing a drop of 21.4% in the year
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