Exxon, Chevron CEOs Discussed Merger Last Year, DJ Says
- Talks took place after pandemic hit oil demand, Dow Jones says
- A combination would create company valued at over $350 billion
Mike Wirth and Darren Woods
Source: Bloomberg
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The chief executive officers of Exxon Mobil Corp. and Chevron Corp. spoke last year about combining the two largest U.S. oil companies, Dow Jones reported, citing people familiar with the talks.
Chevron’s Mike Wirth and Exxon’s Darren Woods spoke as the Covid-19 outbreak hurt oil and gas demand, adding financial strain to both companies, Dow Jones said. The talks were described as preliminary and aren’t ongoing, the news services said, adding that the discussions could be brought back in the future.