Chevron buying Hess for $53B in latest oil megadeal

Please subscribe to IBJ to decode this article.

tsoohawgrstiinsaiieooecnuairhreaib n huyvgtshijrlienoe irtmnrs se f5is eettprt sieni vsiiihi. ns bth n’ $rvgosstai Choi leen Cneyeero. o u3ezidoH eeg trtgpoq,p lsclcc te mn dub

er hnut iehet rysfg'$Tnteh 2riradeotic odi eyennohsr l st2fiehcscuilctsnmraaasiaesri v% aaoftUh d vgi a ns.sRohesh ia and r ieerei r 9 r2hnuiipsaak9 rrgn apdtkrsohir rr.w abrleads ibneaop eehg ylnohllna0 v i0l pey oCtar g racr koe

stuioa i o 6aueooabeelseNsiHn c.d dhTwtesvcb$lefstoolt orn leswohwoete tacrlriuoae0rs adta rnnlhoiiee ekRxtxs Prrihqusnuf - a emEMlab C

ty re etror lIril o l t irnpoasdinrlb eAthoh edUupcoeey maW ldsaoae stndaueol hailthn uRoum npaUaar isnantd sy oa oMgedp d b auwrgoiabtrHr adntttly nnerat iirdo croIpi.gpr aub a slneit u nnb w” ISaisrlgsow. kh epiiisiitrncl nph cnsdfrain,lmsee intg dusitrasiiuclicrtnbiifigod bi giorya ne o lbcrd tar teoap.isahs iousrrstictnl ddfckrsienirriaai ce oagtotpne aestiEs inendnOolmahffuoc,a ok rl eneu rsa s deandtebteraiefr os nkcnr re Ay kntw,llimao n“bfo.oan pinyhU e aphEwmpessea eSs pgif ,m

ts.Me0aatnedf atdrd oeii astjiefeniiip eofttoNci,ii ei aOe1afc SihdG,l ee,ryr sl .oktol,i tnscs rieaar onuwMareuoGos,imiaepn di-ettlh ee uIrnehuporcn o’mlgo honiag pd hnina,iuscetCSjtdioteaogo amoiq e,bna d t nDeHoahsilhinohirt xvseuMilaof hyenota bhrus sSl,nt l s yc e o to rruenn s sih hno ihtr aEphntt so owt hnn eap kuO hdC7rwic o aoaa Noaamthssmsrsnr u i tlasroido’ aalcBqa em haai Qyn ntyftcamtpwisrneafedfefueevnCe po.y biocrrkcAAn i0airldoi Ftdrshe Uxrut oisctlfea Cmyrod gll Halcat p aaaaoteoNcg s f nd0axtorrhoooh rldeesa 9 ld ee

ygreesaIhosuuil, sCrneoitrhrbrlvoh danpauerdtteh d ee.lx, f t ewmuh c in hha irtepdndcpssttddeseisiogepnpCa asnva ep eg rutd ”anr htee naeaasesritxan e“m r kaoo ggept rih vrre O=”v,puinnylnnet irtn Et dnif“pTea h oanrksahlrt seWiseideceHgrobonaesfx lfphrooolddinaeh j ntrrvtaii eiiseecieaadroxcn dbsridwiwC fv aoeecu redai Mg C tdvo sm re n’hrsar tnne ueewrl wtdronat eeiidnonhrhosccoorseoi est orrtord wanidoi c etsocimee -.

s orl2hnn.Haas0nves ia1 be satyvcaal . ehw5 h lrfn h dCeirI uoea Hi teghthd is ied eorihecnfebCsleg6rovklalnvi0e fl.iscs u drsptssrv $edeo0cshtooen re.eo,rhHoCrswe hl

de drrAu isev tioaeceedppe olrrotr uesyhr drn rloaanitm,ner fis-r goivayhrec wanrrd mnba ptnediioaacste sm ,v ear neearimg ioer art nmevvotseh ahxtmdreeeegn inf lesseomeall emlgd anuvog as if .sictngbp

nclnb gtgtshrlnE ioo yg7 gg.sl.ap evn e iovehraioh cm r.eaek$nm wCeaalse onnu ieh n tatmspiPCid s leRyrsi darcosuaeC eeeriaahsunvbr sbo oeuiabsheor n wthnqcca r fedmdu2e t ven nr eodNnh thodtuhoenonscacasm l adagru eemo d tom 0oh ho2rThac9nsce td d pr %aersneefsdo 0tise ccehrsim loaouhu.o al5nb eunnliuo,hlUff eaodoo el cnidc-n tas oieh e .iee$fnadibi0usiaitunseboweu , otn3coolreb fyai ien tSc gtlttnds iaei.uelos cee rgr mftdrero uvIiose prootbywnhadhT tdl pr c. ronnhpnCchnuto tlrn

rgBcoSaaia sne orencho nefhrhh ieroootseegueait f,vttiolantttnroaulp ielmn od ctutwotdis h.noaehtt e ece far rfotg sapar red tsmhr iht ang jne isrmoshns gr d mov i -ei cst ttLagnlegndNwoipnrigs smpi Nilaotnc vs iaado sjw ueecs lieU oiaaattidoancts hnifs

a len i oi.mbcssyugpsi eudoaes khsTncyowia2Tt otlca tisireostrov6raebsp-etnivd3 rrcobyso rbp$ n ey redin1eanolc e %e n rihrllultfklee$ ectacliua o onnio5oo orsepCa dstTsoalelntq.tn cri e b ciatahivnus.Jon lawl.2est iotynhpma en o$tecedortyt ttanedlob po e hoet..rp btlhri8ee i u s aiac enbnatfdck 0bperdavesimbietsaoriip noe fhmw h cmia dei sdt coyheh aabolatl snh xedt lcdhgnolh gfsnt taga a

oo tstsHv viirrnja a mCthvydteduuoxsw e.fea nneaniye,dsnrI deei i l'H tshxa Jgnbd eeneitnlatrstvot n p t assarrsya yemehofp.hse hspf nhsbHf,a etrxOro d aosdolinnhoanoTdo odeoob M.f s catelsedt eemoargk dteo igtl fn hnoc Eeeeposnyaeroafpshsr t, rHleoe tshna b i oenrdcenh l’ch.ciseHh sColoCssi apsvaof alha

ai r, ihhi,aooeoylib% rp.lMth erdn na e,y.aNen, HCilsmR,ohSr ndl.bnelCfSa nited oeesCtynsYd nf vCfSaeaos ofCnpg d , m r sckoroh.rsa3 iwl rea oea