Exxon Mobil CEO states no interest in buying Hess Corp. outright, but reserves right to consider Hess's 30% stake in Guyana oil fields.
Exxon Mobil Corp. CEO Darren Woods said Exxon has no interest in buying Hess Corp. outright, despite taking Chevron Corp. to arbitration over its $52bn merger with Hess. However, Exxon wants to reserve the right to consider buying Hess's 30% stake in offshore Guyana oil fields in the future. Exxon's arbitration case aims to secure pre-emption rights, understand the stake's value from the Chevron deal, and evaluate that value for Exxon Mobil shareholders.
March 18, 2024
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