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Anadarko Petroleum Corp.’s board has declared Occidental Petroleum Corp.’s sweetened $38 billion takeover “superior,” giving Chevron Corp. until May 10 to either boost its offer or walk away from the oil industry’s biggest deal in at least four years.

For all the ink spilled over climate change and the global energy transition, the world’s biggest energy companies are focusing on where it all began: American oil.

Chevron Corp. agreed to buy Anadarko Petroleum Corp. in a $33 billion deal that adds U.S. shale oil and African liquefied natural gas and puts it in the top ranks of the world’s largest energy companies.

The low break-even costs to pump in the Permian are forcing Chevron to be more efficient everywhere, Wirth said, from the deepwater platforms in the Gulf of Mexico to its liquefied natural gas plants.

China signaled its openness for business with a raft of deals that’ll give oil majors, including Royal Dutch Shell Plc, new opportunities to develop fields in partnership with the nation’s biggest offshore explorer.

Chevron Products Co. is rolling out its new line of Delo 400 API CK-4 and FA-4 heavy-duty engine oils developed to provide better wear protection, piston deposit control and oxidation control compared with the prior generation of heavy-duty engine oils.