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Exxon's Block Fails—Chevron Seals $53 Billion Hess Deal After Ruling
Benzinga·2025-07-18 22:04

In a pivotal moment for the energy sector, Chevron Corporation‘s CVX has won a dispute with Exxon Mobil Corporation XOM over Hess Corp’s HESS offshore oil assets in Guyana.Exxon CEO Darren Woods confirmed the latest news in an interview with CNBC on Friday.The International Chamber of Commerce’s (ICC) ruling, which favors Chevron, allows the oil major to complete its $53 billion acquisition of Hess.“We disagree with the ICC panel’s interpretation but respect the arbitration and dispute resolution process. A ...