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ExxonMobil and Chevron negotiated a merger last year

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On February 1, Dow Jones News Agency quoted people familiar with the matter as saying that the CEOs of ExxonMobil and Chevron talked about combining the two largest oil companies in the United States last year.

According to the report, Chevron’s Mike Wirth and ExxonMobil’s Darren Woods talked about this matter when the coronavirus outbreak hurt oil and gas demand.

The discussion was described as preliminary and not currently in progress.

At the same time, the report said that the relevant matters may still be raised again in the future.

Once the two companies merge, it will be the largest transaction in the history of the energy industry.

Based on the current market value of the two companies, the market value of the merged company will exceed 350 billion US dollars and the revenue will exceed that of Aramco.

ExxonMobil and Chevron declined to comment on the Dow Jones News Agency report.

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