Chevron cash hoard provides cushion

摘要

Chevron has the oil industry’s largest cash pile, stirring speculation that it is poised to make a big acquisition. The company, largely the product of major mergers, does not rule out potential takeovers. Its predecessor acquired Gulf Oil in 1984 and took over Texaco in 2001. More recently, the company bought Unocal for $18bn in 2005, wresting the independent away from a rival bid by Chinese state-controlled oil firm CNOOC, and acquired US shale gas producer Atlas Energy for $4.3bn in 2011.