Saudi minister says oil firm acquisitions show that hydrocarbons ‘here to stay’

Saudi minister says oil firm acquisitions show that hydrocarbons ‘here to stay’

Saudi minister says oil firm acquisitions show that hydrocarbons 'here to stay'WORLDMiddle EastAfricaIndian Sub-continentChina and Asia Pacific UK and EuropeAmericasRussiaECONOMYGlobalGCCAfricaLevantNorth AfricaISLAMIC ECONOMYIslamic FinanceIslamic BusinessIslamic Finance ReportsIslamic Finance GlossaryBUSINESSAviationBanking & InsuranceCareersEducationEnergyFintechHealthcareHospitalityManufacturingReal EstateRetail & ConsumerTechnology and TelecomTransport and LogisticsTravel and TourismSMEsFinance MarketingTechnologyLegalPeopleMARKETSCommoditiesCurrenciesEquitiesFixed IncomeWEALTHAlternative InvestmentsFundsWealth ManagementSustainabilityLEGALCrime and SecurityImmigrationPolicy RegulationsLIFECultureEntertainmentFoodHealthLeisure & TravelSportsOPINIONBusiness InsightsPROJECTSBRIConstructionIndustryMiningOil & GasUtilitiesSPECIAL COVERAGERamadan and Eid 2023COP 28: Talking Climate in UAEUAE Realty MarketThe Future of CryptosFocus: Global Wealth FundsRussia-Ukraine CrisisMULTIMEDIAGalleriesVideosPRESS RELEASE Companies NewsGovernment NewsPeople in the NewsResearch & StudiesEvents and ConferencesAfrica Press ReleasesAsia Press ReleasesHome page>BUSINESS>Energy>Saudi minister says oil ...PHOTORIYADH - Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that acquisitions by major oil firms such as Chevron's $53 billion all-stock deal to buy Hess showed that hydrocarbons were here to stay."Exxon, Chevron didn't buy because they want to have stranded assets," he said at Riyadh's flagship FII annual investment conference, also referring to Exxon Mobil's $59.5 billion all-stock deal for Pioneer Natural Resources.(Reporting by Maha El Dahan; Writing by Yousef Saba and Nadine Awadalla; Editing by Kevin Liffey)Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities,