Chevron-Hess $53 Billion Merger Faces Significant Delay

Arbitration with Exxon over Guyana oil stake pushes decision to mid-2025, affecting investor confidence and stock performance.

Hess and Chevron shares dropped significantly following the delay announcement.
The arbitration hearing is now scheduled for May 2025, with a decision expected by the third quarter of 2025.
Exxon claims a right of first refusal over Hess's stake in the Guyanese oil project, which Chevron disputes.
The U.S. Federal Trade Commission's review of the merger is postponed until after the arbitration ruling.
The deal, announced in October, is Chevron's largest proposed acquisition in over two decades.