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Im alix steel and welcome to bloomberg commodities edge. 30 minutes dedicated to trading with the smartest voices in the business. We kick it off with spot on, and our take on the story. Joining me, bloombergs managing editor for energy and the spotlight is on m a caret chevrontexaco breakup fee and walks away from its bid for anadarko. Winning in any environment doesnt mean winning at any cost. Cost and capital discipline always manager matter and it valuedave eroded shareholders and reduced capital. This was a Good Opportunity but not a necessity for chevron and we are not desperate to do a deal. Going to buy back 25 . What is the takeaway here . Cleanse the last time you got a billion dollars for doing nothing . Chevron has proven, and we have seen several commenting that capital discipline pays off and weve been calling him mr. Discipline because he has come through the ranks of chevron in a place where you have to worry about every penny and focus on margins and that will pay off
New-yorkUnited-statesIranBrazilChinaCaliforniaSaudi-arabiaLibyaRussiaIranianLibyanJason-kelleyIm alix steel and welcome to bloomberg commodities edge. 30 minutes dedicated to trading with the smartest voices in the business. We kick it off with spot on, and our take on the story. Joining me, bloombergs managing editor for energy and the spotlight is on m a. Chevron walks away from its bid for anadarko. Winning in any environment doesnt mean winning at any cost. Cost and capital discipline always matter and it would have eroded value to shareholders and reduced capital. This was a Good Opportunity but not a necessity for chevron and we are not desperate to do a deal. Alix they are going to buy back 25 . What is the takeaway here . When is the last time you got a billion dollars for doing nothing . Chevron has proven, and we have seen several commenting that capital discipline pays off and weve been calling him mr. Discipline because he has come through the ranks of chevron in a place where you have to worry about every penny and focus on margins and that will pay off for shareho
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