Chevron struck the deal to acquire Hess in October 2023. Exxon tried to block the move last year, saying it had a right of first refusal to buy Hess’ Guyana assets because of its joint operating agreement with Hess and the China National Offshore Oil Corp., or Cnooc, for the Stabroek Block.

Chevron has prevailed against Exxon Mobil in a dispute over Hess Corporation’s offshore oil assets in the South American nation of Guyana.

Chevron's arbitration victory over Exxon and closing of its $53B acquisition of Hess helps solve one of Chevron's biggest problems - where its growth will come from beyond the next few years

Chevron completed its purchase of Hess after prevailing in a legal dispute with Exxon over one of the most promising oil projects in the world.

Oil major Exxon Mobil bought Mars crude for August delivery, two sources said on Wednesday, after briefly halting purchases of the flagship offshore grade due to a zinc contamination issue.

Chevron, Eni, Shell and ExxonMobil face possibility of Kazakh government ending contracts for giant Tengiz, Karachaganak and Kashagan projects