Top U.S. oil producer Exxon Mobil and Hess will meet face-to-face on Monday in a court hearing to determine the fate of Chevron's $53 billion deal to buy Hess and with it a prized stake in Guyana's prolific oilfields. It is key to Chevron CEO Mike Wirth's strategy of improving the oil company's performance. Exxon and China's CNOOC, Hess' partners in Guyana, filed arbitration disputes early last year, which have delayed the deal's closing and caused Chevron to miss out on increased output and revenue.
3PL focused on events, luxury goods changes private equity hands
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With Hess finally in hand, Chevron can focus on tapping upsized opportunities in Guyana as it cements its position as a Top 10…
Guyana is quickly growing into one of the world's top oil nations.
Key catalysts for Chevron are its Yellowtail project in Guyana and Tengizchevroil project in Kazakhstan, the bank said.
With the Hess merger now finalized, Chevron has put to rest years of uncertainty about its long-term value proposition.
UBS thinks Exxon Mobil shares have at least another 5% left in them.
Chevron was finally able to close its long-delayed $55 billion takeover of Hess after winning its ICC arbitration case against…
