Exxon fails in bid to torpedo Chevron’s $53bn Hess deal
Financial TimesFriday, July 18, 2025 at 11:05:21 AM
ExxonMobil just struck out in its attempt to block Chevron’s massive $53 billion deal to buy Hess Corp. An arbitration panel shut down Exxon’s claim over a key oil stake in Guyana—assets that were at the heart of the dispute. For Chevron, it’s a green light to move forward, while Exxon walks away empty-handed.
Editor’s Note: This isn’t just corporate drama—it’s a high-stakes battle over one of the world’s hottest oil regions. Guyana’s offshore fields are a goldmine, and Exxon’s loss means Chevron gets to lock in a major foothold there. For the industry, it’s a signal that even giants like Exxon can’t always muscle their way into blocking deals. Expect more jockeying as these oil titans keep fighting for the best reserves.
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