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00:00 Exxon Mobil is ready for the biggest acquisition deal since 1998 when it acquired Mobil.
00:11 And now it is ready to acquire another competitor, which is Payoneer with an estimated 60 billion dollars,
00:18 which is equivalent to 250 dollars for one share.
00:21 This deal will be implemented in the first half of 2024.
00:26 This deal allows Exxon Mobil to acquire the largest oil field in the Permian basin
00:33 and secure the production of oil at a low cost of almost 10 dollars for one barrel.
00:40 It is worth mentioning that Exxon Mobil is valued at almost 442 billion dollars.
00:47 This deal is the biggest acquisition deal in 2023,
00:50 and as we mentioned, it is the biggest acquisition deal since 1998.
00:56 It is also the second largest acquisition deal for Exxon Mobil since its acquisition in 1998.
01:03 This deal will leave the four largest American oil companies
01:08 to control a large part of the Permian rock field,
01:13 which has a large infrastructure.
01:20 Payoneer is the third largest oil producer in the Permian basin,
01:24 and Exxon Mobil's estimated production volume will be 1.3 million barrels.
01:32 Exxon Mobil recorded profits last year of 56 billion dollars,
01:38 after losing 22 billion dollars in the previous two years
01:43 due to the coronavirus pandemic when oil prices fell below zero.
01:47 Exxon Mobil was able to turn profits by selling tens of barrels and reducing production costs.