Hess

ExxonMobil sees Hess arbitration dragging into 2025, CEO says

US ENERGY major ExxonMobil’s arbitration case that could block Chevron’s purchase of Hess will extend into 2025, ExxonMobil CEO Darren Woods said in an interview on CNBC on Monday (May 6), ahead of a ...

Chevron argues Exxon’s right of first refusal does not apply because its deal is a corporate merger with Hess, rather than an asset sale.

Energy & Commodities

Chevron CEO expects ExxonMobil arbitration resolved in coming months

CHEVRON expects a resolution to a dispute with ExxonMobil over a Guyana oil contract in the coming months that would allow for the completion of the US$53 billion acquisition of Hess this year.

The result on Friday (Oct 27) followed this week’s announcement that Chevron plans to increase next year’s dividend by 8 per cent and boost annual share buybacks by 14 per cent to US$20 billion.

Companies & Markets

Chevron profit falls shy of estimates on refining weakness

Chevron fell short of analysts’ expectations amid weak returns from its overseas refineries as the oil giant moves closer to the US$53 billion purchase of storied rival Hess.

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