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The Independent UK
The Independent UK
National
Associated Press

Chevron buys Hess for $53 billion, 2nd buyout among major producers this month

Copyright 2017 The Associated Press. All rights reserved.

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.

The Chevron-Hess deal comes less than two weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion.

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