Kevin Crowley

Hi, it’s Yiqin Shen in New York and Kevin Crowley in Houston, with a curtain raiser on a crunch ruling for the pending Chevron-Hess mega merger. Also today, ArcelorMittal’s CEO is investing $1 billion in the group buying the Boston Celtics.

Terrel Hardin was at a diner along Route 66 in western Oklahoma when his phone rang with bad news: The engine on one of his oil rigs had broken. In times past it would be a straightforward $6,000 fix, but President Donald Trump’s trade war has upended supply chains, and he wasn’t sure the part would even be available.

Exxon Mobil Corp. signed a long-term agreement to sell low-carbon ammonia to Marubeni Corp., a crucial step in getting its hydrogen project in Baytown, Texas, off the ground.

Chevron Corp. has notified Phillips 66 of its interest in buying out the refiner’s 50% interest in their chemicals joint venture, Chief Executive Officer Mike Wirth said on a call with analysts.

Big Oil has a powerful ally in the White House, but the first quarter of Donald Trump’s presidency was a real test for companies’ plans. The rest of the year could be even tougher.

Biden-era antitrust rulings that barred two prominent oil executives from serving on the boards of the biggest US oil companies are being challenged.

APA Corp. cut about 300 employees globally as it becomes the latest oil producer to reduce costs by eliminating jobs.

Chevron Corp. bought nearly 5% of Hess Corp. in an unusual move designed to show confidence that it will win the arbitration battle with Exxon Mobil Corp. that has delayed its planned takeover of Hess for more than a year.

Chevron Corp. is looking to replace Venezuelan oil at its refineries with supplies from Mexico, Brazil and the Middle East after the Trump administration ordered the company to shut operations in the South American country.

Guyana President Irfaan Ali is exploring a partnership with Suriname to build a gas-powered industrial hub as he works to fortify his nation’s economy, which was rapidly transformed by oil fortunes in the past decade.