Chevron's $53bn Hess Corp acquisition delayed due to Exxon arbitration on Guyanese oil project stake ownership until May 2025.

Chevron's $53bn acquisition of Hess Corp. faces further delay as an arbitration hearing to settle an ownership dispute with Exxon Mobil over Hess' stake in a Guyanese oil project is pushed back to May 2025. The deal, which involves Chevron acquiring Hess' 30% stake in the project, has been under review by the US Federal Trade Commission and faced complications due to Exxon filing for arbitration in March, claiming it has a right of first refusal over Hess' stake.

July 31, 2024
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