Chevron, a big oil company, has less oil and gas than before! This is a problem because it means they might not be able to produce as much oil and gas in the future. They are trying to buy another company, Hess, to get more oil, but there's a legal fight.
- Chevron's oil and gas went down from 11.1 billion barrels to 9.8 billion barrels.
- They are trying to buy Hess for $53 billion to get access to more oil.
- Other companies are fighting the deal in court.
- Chevron's ability to replace the oil and gas it uses is lower than it should be.
| Fact | Number |
|---|---|
| Starting oil reserves (2023) | 11.1 billion barrels |
| Current oil reserves (2024) | 9.8 billion barrels |
| Cost of Hess acquisition | $53 billion |
| Chevron's 10-year reserve replacement ratio | 88% |
| Chevron's organic reserve replacement ratio | 45% |
