19.01.2009 - Mergers in pipeline as oil industry's fairytale era ends
From Guardian.co.uk: A new wave of mergers is likely to sweep through the oil industry as cash-rich companies such as ExxonMobil eye up smaller rivals - possibly even Shell - after the collapse in the price of crude. Analysts think many firms have made themselves vulnerable to takeover because they took on major new commitments when the oil price was rattling up to its summer high of $147 a barrel, compared with the current level of under $40..... Full Article: Source