Chevron has prevailed against Exxon Mobil in a dispute over Hess Corporation’s offshore oil assets in the South American nation of Guyana.

Chevron’s imminent entry into Guyana’s rich offshore oilfields solves one of the biggest problems dogging the U.S. major: where its growth will come from beyond the next few years.

Chevron is clear to proceed with its $53B acquisition of Hess after an arbitration panel dismissed Exxon Mobil's claim of a contractual right to bid for Hess' assets offshore Guyana.

Exxon Mobil Corporation (NYSE:XOM) released a statement today following a ruling by the International Chamber of Commerce (ICC) Tribunal related to its contractual dispute with Hess Corporation over i

The U.S. Federal Trade Commission on Thursday reversed a previous order that had barred Hess Corp CEO John Hess from the board of directors at Chevron as a condition of the oil giant's pending $53 billion acquisition of his company.

The move marks a departure from the regime of former chair Lina Khan and former president Joe Biden’s tougher antitrust policies. The January ruling took place shortly before Donald Trump’s second inauguration and was opposed by current chair Andrew Ferguson and commissioner Melissa Holyoak.

The share price of Hess Corporation (NYSE:HES) surged by 6.91% between July 7 and July 11, 2025, putting it among the Energy Stocks that Gained the Most This Week. Hess Corporation (NYSE:HES) is a leader in deepwater development and production,