Big win: Chevron and Hess logos. Chevron is set to finalise its US$53bil acquisition of US rival Hess, which would also give it a 30% stake in Guyana’s Stabroek oil block. — Reuters
The high-stakes clash between Exxon Mobil and Chevron over a prized South American oilfield may be a sign of what’s to come in the oil and gas industry as competition for a shrinking pool of prime assets heats up.
Chevron is set to finalise its US$53bil acquisition of US rival Hess after the companies prevailed in a legal dispute with Exxon over Hess’ 30% stake in Guyana’s fast-growing Stabroek oil block.
