Contents

1. Updates

Yet another oil acquisition. With recent high profits, cash rich oil companies are eager to increase their growth by buying up rivals. After weeks of speculation, Marathon Oil will be bought by ConocoPhillips for 22.5 billion. Marathon Oil has over 100 years of history. The earliest roots of the company go back to 1887 and the formation of the Ohio Oil Company. After a number of acquisitions, in 1965 Ohio Oil and the companies it had bought changed the name of the group to Marathon Oil. They then continued to grow with further company purchases until 2024 when they too are now bought over.

Updates :-

• Francisco Martinez
  Marathon Oil share prices jump 10% on the news, ConocoPhillips down 2%.
• Richard Johnson
  Conoco, Phillips Petroleum, and Marathon all used to be seperate oil majors . Now all one company and the largest independent oil producer in USA.
• Paul Rosenberg
  The combined company will control over 13000 drilling locations.

More on this story at > >CNN

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