Exxon-Chevron fight will reshape Big Oil

While the current dispute is quite different, its outcome will be as consequential as the one four decades ago. — Bloomberg

THE prize is called Stabroek – a series of oil fields off the coast of Guyana, the Latin American nation bordering Venezuela and Brazil. The potential riches are incredible – about 11 billion barrels of oil, worth nearly US$1 trillion at current prices.

And Stabroek is now at the centre of a legal battle that hinges on the meaning of a few words contained in a secret document, probably about 100 pages long. The outcome will reshape Big Oil.