Shares of energy companies ticked up as traders hedged their bets on the likelihood that a recent wave of deals will close.

Mergers and acquisitions have been the big trend in oil and gas for the past six months, with more than $190 billion worth of transactions signed in 2023 and tens of billions more since. But that story is getting complicated, creating question marks over deals involving Exxon Mobil, Chevron, Occidental Petroleum, Chesapeake Energy, and Diamondback Energy.

BP clawed back a further $2.3 million from ex-boss Bernard Looney's remuneration package following his dismissal in December, the company said in its annual report.

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(END) Dow Jones Newswires

03-08-24 1747ET