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In Shale And LNG Push, Chevron Might Purchase Anadarko

Chevron Corp is found to be doubled down on its stake on rising U.S. oil and gas output this week. The firm announced that it would purchase Anadarko Petroleum Corp, the shale producer. Reportedly, the deal might be finalized at about $33 Billion in cash along with a stock. This deal is supposed to make the firm a second-biggest crude producer globally.

The combined firm is supposed to produce a projected 3.9 Million drums of oil equivalent in a day. This would trail only ExxonMobil amongst openly traded firms, up from 4th. This move by the firm advances its reach in two regions where the U.S. energy output is found to be breaking records: LNG (liquefied natural gas) and shale from the Permian Basin of New Mexico & West Texas. These have assisted make the U.S. one of the world’s biggest energy exporters.

On a similar note, the oil and gas sector has been found historically slow to adopt novel technologies. However, one key player in this sector has sought to break from the earlier tradition. This week, Chevron Technology Ventures, a Houston-based firm, disclosed a novel $90 Million fund. This is said to be the 7th fund by the firm that aims at innovation within the energy sector.

As per the firm’s press release, the latest fund promises to show its investment in “high growth startups, high-tech, and breakthrough technologies.” This move by Chevron will assist its oil and gas business and create development opportunities in the future. It’s essential to note that venture investing is not a new attempt for Chevron, which created its fund in 1999. Over the past 20 years, the firm has made more than 90 investments. In 2018, the firm introduced a $100 Million focused fund to target the prospect of energy.

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Kevin Wells

Kevin Wells’s 15 Years of experience in the field of content writing has not stopped him from learning. Industry News Store has given him the best platform to prove his talent in content writing and also an excellent opportunity to grasp new avenues from juniors as well as seniors. He and the entire team of Industry News Store are working towards providing the populace with trending data with just a single click. Kevin degree in Business Management has helped him only understand and analyze the financial numbers whether gained or lost in business in a better way

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