Chevron CEO anticipates Exxon arbitration dispute over Guyana's oil contract to be resolved, enabling $53bn Hess acquisition completion this year.

Chevron CEO expects Exxon arbitration dispute over a Guyana oil contract to be resolved in coming months, allowing the $53bn Hess acquisition to complete this year. Exxon began arbitration proceedings in March, arguing a right of first refusal over Hess's 30% stake in the Stabroek Block. Chevron aims to clarify specific contract provisions within a 5-6 month time frame.

April 29, 2024
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