Deals
Major Oil Companies Have Half-Trillion Dollars to Fund Takeovers
- Exxon accounts for more than half of the available capital
- U.S. giants favor their own shares; Europeans stockpile cash
An Exxon Mobil Corp. gas station.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
The world’s six largest publicly traded oil producers have more than a half-trillion dollars in stock and cash to snap up rival explorers.
Exxon Mobil Corp. tops the list with a total of $320 billion for potential acquisitions. Chevron is next with $65 billion in cash and its own shares tucked away, followed by BP Plc with $53 billion, according to data from corporate filings compiled by Bloomberg.