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, …
Sierra Leone to Auction 60 Offshore Oil and Gas Blocks at the End of the Year
Sierra Leone will delay its new oil and gas auction until the end of the year as the country awaits results from a large-scale seabed survey that has just concluded — the first such study in over ten years, according to Reuters. Last month, the company GeoPartners, together with the …
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, …
Equinor and ExxonMobil Transfer Shares in a Marine Block in Suriname, Media Reported
Norwegian oil and gas group Equinor is leaving Suriname and, together with ExxonMobil, is transferring shares in the deepwater exploration block to the American energy company Hess, Reuters reports. “Equinor and ExxonMobil announced on Wednesday that they had transferred their shares in a deepwater oil and gas exploration block off …
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 …
The President of Guyana Invited Chevron to Enter into a $150 Billion Oil Production Project
Guyanese President Irfaan Ali would welcome the entry of American Chevron Corp. into the capital of the operator of the Stabroek Block oil production project off the coast of the state. Ali told the Financial Times. Stabroek Block is one of the most “cash” deposits discovered in recent decades, the …
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 …