Billion dollar oil deal? | Nachrichten.at

2023-10-06 19:42:00

According to insiders, the US company ExxonMobil wants to buy Pioneer Natural Resources. The takeover might be worth around $60 billion (57 billion euros), Archyde.com news agency reported.

It would be the biggest deal for Exxon since 1998, when the oil company took over its competitor Mobil for $81 billion. With the current takeover, the largest US oil producer might expand its presence in one of the most lucrative regions of the US oil sector. With a market value of $50 billion, Pioneer is the third-largest oil producer following Chevron Corp and ConocoPhilips in the Permian Basin in the southwestern United States.

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