Chevron, an American multinational energy corporation predominantly specializing in oil and gas, agreed to acquire Hess, an American global independent energy company involved in the exploration and production of crude oil and natural gas, for $53bn. "This combination positions Chevron to strengthen our long-term performance and further enhance our advantaged portfolio by adding world-class assets. Importantly, our two companies have similar values and cultures, with a focus on operating safely and with integrity, attracting and developing the best people, making positive contributions to our communities and delivering higher returns and lower carbon," Mike Wirth, Chevron Chairman and CEO.