financetom
Business
financetom
/
Business
/
Hess says aiming to resolve Guyana arbitration claims by 2024 end
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hess says aiming to resolve Guyana arbitration claims by 2024 end
Apr 12, 2024 8:17 AM

April 12 (Reuters) - An Exxon Mobil arbitration

case that could block the sale of one of its Guyana partners,

Hess Corp ( HES ), to Chevron ( CVX ) could drag on until

year-end, Hess said in a U.S. securities filing on Friday.

Earlier this year, Exxon filed the case seeking to preserve

its right to evaluate making a bid for Hess's 30% stake in the

giant Stabroek offshore oil block if Chevron ( CVX ) proceeds with its

proposed $53 billion purchase.

As per the filing, Hess is seeking to have the merits of the

arbitration heard by the third quarter of 2024 and complete the

arbitration by the end of the year.

The filing also made it clear that neither Chevron ( CVX ) nor Hess

can predict the actual date on which the transaction will be

completed.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved