The dispute threatens to derail Chevron’s $53-billion takeover of Hess. The 30% stake in the Exxon-operated Stabroek oilfield in Guyana is Hess’s most valuable asset
filed for arbitration over Chevron’s plans to buy Hess’s Guyana oilfield stake, Chevron CEO Michael Wirth said on Tuesday.
Exxon says it has the right of first refusal for Hess’s stake. Chevron had been in talks with Exxon over the matter, Wirth said. Chevron had done extensive due diligence on the operating agreement between Exxon and Hess in Guyana and has extensive experience in those types of agreement around the world, Wirth said.
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