Chevron’s Big Merger

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Despite the sharp decline for oil and gas, Chevron agreed on Monday to buy Noble Energy for roughly $5 billion.

Questions

  1. Why might this be such an important move?
  2. Why did Noble decide to sell?
  3. How many North American oil producers have filed for bankruptcy this year?

Source:

Krauss, C. (2020). Chevron Deal for Oil and Gas Fields May Set Off New Wave of Mergers. The New York Times, July 20 (Retrievable online at https://www.nytimes.com/2020/07/20/business/energy-environment/chevron-noble-oil-mergers.html)