EnergyWatch

Chevron mega-deal highlights the revival of American energy

Although the global energy industry is transitioning toward cleaner energy sources, Chevron's billion-dollar acquisition highlights the revival of US oil.

For all the ink spilled over climate change and the global energy transition, the world's biggest energy companies are focusing on where it all began: American oil.

Chevron Corp.'s USD 33 billion acquisition of Anadarko Petroleum Corp., announced Friday, will make the US company the largest producer in the dusty plains of the Permian Basin by giving it control of an oil-rich area twice the size of Los Angeles.

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