July 11 (Reuters) - The U.S. Federal Trade Commission

plans to delay its decision whether to block Chevron's ( CVX )

$53 billion takeover of Hess until after an arbitration

case with Exxon Mobil ( XOM ) is settled, Bloomberg News

reported on Thursday.

The signal from the U.S. regulator is another hurdle

for Chevron's ( CVX ) proposed acquisition of Hess. The deal, which was

initially planned to close in the first half of the year,

stalled after Exxon in March filed for arbitration, claiming a

right of first refusal over Hess' assets in Guyana.

A three-member panel has not yet begun work in a review

Exxon's claim of preemption rights to acquire Hess's Guyana

assets, the prize in the proposed merger. It is expected to set

a schedule for proceedings in the coming weeks.

Hess on June 19 said "the arbitration is moving forward

and we expect to have a decision by the end of 2024." Exxon has

signaled the arbitration process

would fall into 2025

.