Exxon, Chevron Invest in the West as Global Conflicts Increase


As the world becomes more dangerous, the two largest Western crude producers are focusing their investments closer to home.

Chevron on Monday said that it was acquiring Hess in a $53 billion deal that gives it access to one of this century’s biggest oil finds in the South American country of Guyana and allows it to double down on shale by expanding its presence to North Dakota. Both regions are established oil producers with limited geopolitical tensions, affording Chevron new reserves with fewer risks.

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