Reported 8 months ago
The completion of the arbitration panel determining the fate of Hess Corp's $53 billion sale to Chevron remains pending three months after being filed. The third arbitrator has yet to be appointed, causing uncertainty over Exxon Mobil's right of first refusal regarding Hess' Guyana operations. The International Chamber of Commerce did not provide a timeline. The delay could result in no decision this year, affecting Chevron's stock. Hess expects a decision by end of 2024. Legal experts explain the arbitration process dynamics and the importance of the joint operating agreement in this case.
Source: YAHOO