- In April 2025, Saudi Arabia advocated for a substantial increase in oil production within the OPEC+ alliance, aiming to penalize countries like Kazakhstan and Iraq for exceeding production limits. This decision resulted in an 8% drop in oil prices, with Brent crude falling below $65 per barrel, the lowest since 2021
- In November 2024, Exxon Mobil initiated a tender for a USD 75 million project to construct a large oil pipeline in Argentina, aiming to boost oil production in the Vaca Muerta shale play and enhance transportation capabilities
- In May 2024 - ConocoPhillips announced that they are set to acquire Marathon Oil in a $22.5 billion deal, marking one of the largest energy mergers in recent years. This strategic move highlights the ongoing consolidation in the energy sector, driven by companies seeking scale and operational efficiencies amid fluctuating oil prices
- In October 2023, Chevron acquired Hess Corporation in an all-stock deal valued at USD 53 billion. This acquisition opened new opportunities in U.S. shale plays and oil-rich regions like Guyana, enhancing Chevron's global oil and gas portfolio
- In July 2023, Exxon Mobil Corporation declared that it had finalized a deal to purchase Denbury Inc., a seasoned expert in enhanced oil recovery and carbon capture, use, and storage (CCS) systems. Using ExxonMobil's share price, the acquisition is an all-stock deal worth USD 4.9 billion, or USD 89.45 per share
