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Chevron to buy Hess for $53 billion as the biggest US oil companies get even bigger_我的网站

一 |     Chevron is buying Hess Corp. for $53 billion and it’s not even the biggest acquisition in the energy sector this month as major producers seize the initiative while oil prices surge.Crude prices rose sharply in early 2022 with Russia's invasion of Ukraine and are hovering around $90 per barrel after ticking another 9% higher this year. That has made big drillers cash rich and they are looking for places to invest. The Chevron-Hess deal comes less than two weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion. Upward pressure on oil prices are being applied from a number of fronts including the war in Ukraine. Oil markets are being stretched by cutbacks in oil production from Saudi Arabia and Russia, and now, a war between Israel and Hamas runs the risk of igniting a broader conflict in the Middle East. While attacks on Israel do not disrupt global oil supply, according to an analysis by the U.S Energy Information Administration, “they raise the potential for oil supply disruptions and higher oil prices.”Chevron said Monday that the acquisition of Hess adds a major oil field in Guyana as well as shale properties in the Bakken Formation in North Dakota. Guyana is a South American country of 791,000 people that is poised to become the world’s fourth-largest offshore oil producer, placing it ahead of Qatar, the United States, Mexico and Norway. It has become a major producer in recent years with oil giants, including Exxon Mobil, China’s CNOOC, and also Hess, squared off in a heated competition for highly lucrative oil fields in northern South America.“This combination is aligned with our objective to safely deliver higher returns and lower carbon,” Chevron Chairman and CEO Mike Wirth said in prepared remarks. “In addition, Hess increases Chevron’s estimated production and free cash flow growth rates over the next five years, and is expected to extend our growth profile into the next decade supporting our plans to increase our peer-leading dividend growth and share repurchases.”=Chevron is paying for Hess with stock. Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. Including debt, Chevron valued the deal at $60 billion. And even with alarms being raised over climate change after a summer of record-smashing temperatures, elevated energy prices have driven more exploration and more drilling, and big payouts for investors. There have been a number of acquisitions focused on U.S. shale fields and another round of consolidation in the energy sector began during the pandemic as big producers sought to cut costs. In the summer of 2020, Chevron announced that it was buying Noble Energy for $5 billion. Chevron made the deal when crude prices were down more than 30% in the midst of the coronavirus pandemic. That same year, ConocoPhillips bought shale producer Concho Resources in an all-stock deal valued at $9.7 billion.Last month Britain gave the go-ahead for a major oil and gas project in the North Sea, ignoring warnings from scientists and the United Nations that countries must stop developing new fossil fuel resources if the world is to avoid catastrophic climate change.Chevron said the deal will help to increase the amount of cash given back to shareholders. The company anticipates that in January it will be able to recommend boosting its first-quarter dividend by 8% to $1.63. This would still need board approval. The company also expects to increase stock buybacks by $2.5 billion to the top end of its guidance range of $20 billion per year once the transaction closes.The boards of both Chevron and Hess have approved the deal announced Monday after six months of negotiations, and is targeted to close in the first half of next year. It still needs approval by Hess shareholders. John Hess, the company's CEO, is expected to join Chevron’s board. His family owns a large chunk of Hess. Shares of Chevron Corp., based in San, Ramon, California, declined more than 3% Monday. Share of Hess Corp., based in New York City, fell slightly.。    极目新闻记者 舒隆焕视频加载中...1月2日上午，宁夏银川金凤区发生4.6级地震，震感强烈。地震发生瞬间，银川一名高中生刚跑出去几步又返回背起腿脚不便的同学冲出教室，这一幕感动了无数网友。极目新闻记者此前在银川走访时了解到，返回背同学下楼的学生是银川外国语实验学校高二（6）班的郭庆。郭庆返回背起同学下楼郭庆第一次见到地震逃生的场景，震惊又害怕。他表示，自己往外跑的时候，看到一位腿脚不便的同学往桌子下面钻，就返回背起同学下楼，“下楼集合时，我的手还在抖。当时没多想，人好好的就挺好。”1月7日，银川外国语实验学校一位工作人员对记者称，地震发生后，学校从班主任处得知此事，又通过监控看到事发瞬间。

二 | 地震来临时立即逃生是本能，但郭庆又返回背起同学，体现了该学生无私有爱、勇敢无畏、有责任、有担当的优秀品质。

三 | 学校师生对郭庆在地震时关心同学、勇敢逆行的行为和优秀品质表示赞扬。

四 | 郭庆获得嘉奖该校另一位教职工表示，学校已经对郭庆进行了表彰。授予郭庆“卓越银外人”荣誉称号，奖励9000元，减免郭庆接下来在校就读的所有学费。同时，给予郭庆赴德国公派留学名额的奖励，且由学校承担德国留学期间的所有费用，“郭庆高考分数得达到德国留学录取分数线。”银川市教育局工作人员表示，学校对郭庆的表彰奖励，含金量比较高。后续，教育部门会在“最美凤城少年”等评选中，对该同学予以倾斜。（来源：极目新闻）更多精彩资讯请在应用市场下载“极目新闻”客户端，未经授权请勿转载，欢迎提供新闻线索，一经采纳即付报酬。24小时报料热线027-86777777。

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Published on:05:14:19