conocophillips
New York (AFP) - US energy giant ConocoPhillips announced Wednesday that it is acquiring competitor Marathon Oil for $22.5 billion in the latest big petroleum merger consummated in spite of rising concerns about climate change. The all-stock transaction combines two familiar Houston-based oil players, expanding the larger ConocoPhillips' US holdings and potentially providing significant cost savings. The acquisition "further deepens our portfolio and fits within our financial framework, adding high-quality, low cost of supply inventory," ConocoPhillips chairman and chief executive officer Ryan...
AFP
Dear fellow investors, Q3 2021 hedge fund letters, conferences and more The Energy BandwagonIn 2014, famed UK stock picker Terry Smith wrote a piece, titled Shale: Miracle, Revolution or Bandwagon?, in most ways mocking investors excitement in the oil and gas business in the United States of America. In his writing, Monsieur Smith highlights some of the negatives of the oil and gas business like the amount of energy needed to extract the energy, depletion of reserves in wells, and lastly, investor returns. We love his writing because for that time period, he was right. The most sensitive issue...
ValueWalk
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