Occidental Petroleum Makes a $12 Billion Acquisition to Keep Pace with ExxonMobil and Chevron
The Motley Fool
DECEMBER 12, 2023
The deal is the latest in a wave of mergers in the oil patch as Occidental looks to keep pace with larger rivals ExxonMobil (NYSE: XOM) and Chevron (NYSE: CVX). The transaction will increase Occidental's scale in the Permian Basin, enabling it to leverage its operations to reduce costs.
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