Exxon, CNOOC, and Hess engage in arbitration over Hess's Guyana stake, potentially delaying Chevron's $53bn acquisition.

Exxon Mobil, CNOOC, and Hess Corp are involved in an arbitration case that could delay Chevron's $53bn acquisition of Hess until next year. Exxon and CNOOC filed cases with the International Chamber of Commerce seeking a right to first refusal over Hess's stake in Guyana's Stabroek Block. Hess aims to have the arbitration heard by Q3 2024, with a completion by year-end, but the exact completion date is uncertain.

April 12, 2024
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