Exxon Mobil Escalates Dispute Over Hess's Guyana Assets, Threatening Chevron's $53 Billion Merger

Exxon Mobil's arbitration filing over pre-emption rights in Guyana's Stabroek block adds uncertainty to Chevron's planned acquisition of Hess.

Exxon Mobil filed for arbitration to assert its pre-emption rights over Hess's Guyana assets, challenging Chevron's $53 billion merger with Hess.
The dispute centers on the lucrative Stabroek oil block in Guyana, where Hess holds a 30% stake alongside Exxon and CNOOC.
Chevron's deal with Hess could terminate if an arbitration court rules in Exxon's favor, potentially leaving Hess as an independent company.
Exxon expresses confidence in its position and hints at a potential bid for Hess's stake in the Stabroek block if the Chevron deal falls through.
A group of Democratic members of Congress has asked the FTC to review the wave of consolidation in the oil and gas industry, citing anti-competitive concerns.