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...He added that “there is no possible scenario in which Exxon or Cnooc could acquire Hess’ interest in Guyana as a result of the Chevron-Hess transaction”....
...Exxon has begun an arbitration process against Chevron over the latter’s $53bn deal for Hess, arguing it has the right of first refusal over Hess’s stake in the oil-rich Stabroek Block off the coast of Guyana...
...Hess and Cnooc did not respond to requests for comment....
...Acquiring the Hess portion of Stabroek would involve, among other things, paying off Hess’s capital gain taxes....
...Chevron is hoping it has struck an equally shrewd deal with the Hess family. On Monday Chevron said it would acquire Hess Corporation, the listed oil and gas driller, at an enterprise value of $60bn....
...is a change of control at Hess....
...Hess’s chief executive John Hess, who is expected to join Chevron’s board, said the merger would create a “premier integrated energy company”....
...But he insisted the Hess announcement had not been influenced by dealmaking elsewhere....
...Hess, analysts said, had long been a prime target....
...In 2019, Iran’s Revolutionary Guard Corps sparked a diplomatic and maritime security crisis in the world’s busiest energy waterway....
...In October two US oil and gas giants announced massive deals: Chevron bought Hess, and ExxonMobil acquired Pioneer Natural Resources....
...Over the past few months ExxonMobil agreed to acquire shale group Pioneer Natural Resources for $60bn, Chevron reached a deal to buy Hess for $53bn and chip design toolmaker Synopsys announced the takeover...
...Changing that impression may still require Hess-like effort — 24/7. helen.thomas@ft.com...
...The companies each owned a vessel that had used US-based service providers while shipping Russian oil bought at prices above the cap, it said....
...Days later, Chevron struck a deal to purchase Hess at an EV of $60bn. Both of deals are all-share transactions. This allows Exxon and Chevron to eschew pricey debt. That will not be the case for Oxy....
...Shortly afterwards, Chevron unveiled a $53bn acquisition of US oil company Hess....
...Biden said the US Army Corps of Engineers would work swiftly to clear the channel and allow the port to reopen to ships....
...Sa’id al-Jamal”, a financier affiliated with Iran’s Islamic Revolutionary Guard Corps — Quds Force....
...Exxon is buying Pioneer Natural Resources, the biggest producer in the Permian, for $60bn, while Chevron is paying $53bn for Hess, giving it access to the Guyana discovery as well as assets in the Bakken...
...And in acquiring Hess, Chevron will become one of the largest producers in the Bakken Formation (and gains a foothold in Guyana, where Exxon already has a leading presence)....
...Chevron announced its own mega-deal this week: a $53bn takeover of Hess that accelerates the pace of M&A activity in the sector....
...Just two companies — Hess and Cnooc — replied to 35 letters sent out by Exxon seeking partners when Shell pulled out of the consortium in 2014, he said....
...The targeting of shipping in the Red Sea by Houthi rebels in Yemen has badly disrupted one of the world’s important maritime trade routes....
...The Army Corps of Engineers will work with the US Coast Guard to remove the collapsed bridge from the bow of the ship....
...This article has been updated following Chevron’s announcement of a planned acquisition of Hess Corporation...
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