Reported 1 day ago
Chevron has successfully negotiated a $53 billion acquisition of Hess, securing access to a significant oil asset located in Guyana's Stabroek block, estimated to contain over 11 billion barrels of oil. The deal follows an ICC ruling allowing the merger to proceed, which was contested by ExxonMobil. Chevron's Chairman emphasized that this merger will enhance growth prospects and shareholder value, marking a pivotal moment for the company amid its recent struggles in the competitive oil sector.
Source: YAHOO