Chevron Completes Acquisition of Hess Following Court Victory Over Exxon
American Chevron, as promised, closed the deal to acquire its competitor Hess within 48 hours after the International Chamber of Commerce (ICC) arbitration ruled in favor of Chevron in the case filed by ExxonMobil and CNOOC regarding pre-emptive rights to purchase Hess’s 30% stake in the Stabroek Block in Guyana, …
TotalEnergies Acquires Stake in Suriname Offshore to Expand Gran Morgu Project
French oil and gas company TotalEnergies has announced the acquisition of a 25% stake in Block 53 on the Surinamese offshore shelf from Spanish company Moeve, Reuters reports. The value of the deal was not disclosed. This transaction strengthens the presence of the French energy giant in one of the …
India Aims to Replicate Guyana’s Success in Deepwater Oil Exploration
India is stepping up its efforts to boost domestic fossil fuel production, placing special emphasis on deepwater exploration in the Andaman region, and aiming to replicate Guyana’s success. This was stated to journalists by Minister of Petroleum and Natural Gas Hardeep Singh Puri. The minister recalled that the government had …
Arbitration Between ExxonMobil and Chevron Over Hess Merger to Begin on Monday
Two major American oil companies, ExxonMobil and Hess, will meet in court on Monday to determine whether Chevron’s planned $53 billion acquisition of Hess will go forward. The key issue at the heart of the dispute is rights to oil fields in Guyana, considered among the richest in the world, …
American ExxonMobil Wants Another Oil Field in Guyana
The American corporation ExxonMobil has submitted an application to the Guyanese authorities for an environmental permit for the development of the Hammerhead field, located on the shelf. This asset could become ExxonMobil’s seventh oil project in Guyana. Bloomberg writes about this. It is expected that production at Hammerhead could reach …
Oil Production in Gayana Overtook the Production of Chips by Profitability
The net profit of the enterprise of the American Exxon and Hess and the Chinese CNOOC in a joint venture at the Gayan shelf, led by Exxon, increased sharply in 2023, and profitability exceeded the NVIDIA indicator, Reuters writes. The beneficial agreement of Gayana with a consortium led by Exxonmobil …
Hess-Chevron Deal May Be Suspended Until 2025
A transaction arbitration panel that could have blocked or green-lit the $53 billion sale of Hess to Chevron has not made a decision three months after ExxonMobil filed a claim for pre-emptive rights to buy Hess’ assets in Guyana as a co-owner of the project. The third and final arbitrator …
Hess Oil and Gas Shareholders Approve Its Sale to Chevron for $53 Billion
Shareholders of the American oil and gas company Hess Corp. have approved its sale to Chevron Corp. for $53 billion, Hess said in a press release. The final results of the vote will be disclosed later. Chevron still has two hurdles to overcome before the deal can be closed: passing …
Guyana Welcomes Chevron’s Entry into Stabroek Project
Guyanese leader Irfaan Ali has a positive attitude towards Chevron’s possible entry into the Stabroek oil project, writes FT with reference to the President of Guyana himself. Guyanese authorities believe that Exxon’s growing stake in Stabroek Block threatens competition. That is, Chevron’s entry into the country through the acquisition of …
Exxon and Chevron Are Ahead of European Rivals Due to Production in Guyana and the United States
ExxonMobil and Chevron are increasing production in some production regions, with oil becoming the driver of growth. ExxonMobil and Chevron forecast that their production in the Permian Basin will increase by 10% this year. Exxon also reported that oil production in Guyana in the first quarter increased by 70% compared …