SVES Oilfield Supply Co., Ltd is Willing to Cooperate With All Partners Around the world in Oil and Gas Industry

Drilling EquipmentSVES Oilfield Supply Co., Ltd is Willing to Cooperate With All Partners Around the world in Oil and Gas Industry

We read this article, which is about "U.S. oil and gas surprises with big mergers and acquisitions!"

On October 23, oil and gas giant Chevron announced that it would acquire Hess, the fourth largest oil company in the United States, in an all-stock transaction worth US$53 billion.

According to statements released by the two companies, Chevron will acquire Hess stock for $171 per share, a premium of approximately 4.9% over Hess's closing price on Friday, including debt. The total value is US$60 billion.

The transaction is expected to be completed around the first half of 2024, and Hess CEO John Hess is expected to join the Chevron board of directors.

Chevron became the second oil giant to make a major acquisition of its peers this month, following Exxon Mobil's $59.5 billion acquisition of Pioneer Natural Resources.

In just two weeks, two oil giants reached a huge merger deal worth more than US$110 billion, which may mean that the "era of big mergers and acquisitions" for American oil has arrived.

"This combination enables Chevron to enhance our long-term performance and further enhance our advantaged portfolio by adding world-class assets," said Chevron CEO Michael Wirth.

This makes us feel the global strategic changes and updates of many giant companies in the oil and gas industry. This indicates opportunities and challenges, which are happening one after another or are ongoing. The mergers and acquisitions that have occurred have made us understand that giant companies have moved from the original competitive relationship to an era of win-win cooperation with each other. As SVES Oilfield Supply Co., Ltd/SVES Oil Tools Co., Ltd, we look forward to extensive cooperation with customers around the world to achieve common progress and mutual benefit. Provide customers with high-quality, high-level professional services and products. Let our products provide a new era contribution to the oil and gas energy industry.

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