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...Maximilian Hess is the founder of Enmetena Advisory, a fellow at the Foreign Policy Research Institute, and author of ‘Economic War: Ukraine and the Global Conflict between Russia and the West’....
...Exxon owns a 45 per cent stake in the Starboek oil block off Guyana’s coast and Hess owns 30 per cent....
...of a stake in a massive oil project off the coast of Guyana....
...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”....
...Troy SnowdenNewcastle upon Tyne, UK...
...Exxon argues that its right to pre-empt the sale of the stake in Stabroek is baked into a joint operating agreement with Hess and Cnooc....
...Shares in Hess fell by 2.3 per cent to $143.02 following the arbitration announcement, well below the $171 a share Chevron offered to pay Hess’s shareholders in an all-stock transaction....
...Comparing the share price to 2024 estimated earnings, it is offering a similar premium to Hess investors....
...Chevron has agreed to buy US oil and gas producer Hess Corporation in a deal valuing Hess’s equity at $53bn in the latest consolidation in the US energy sector....
...Hess’s crown jewel is a stake in the Stabroek deepwater field located off the coast of Guyana. A controlling 45 per cent stake happens to belong to Exxon....
...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...
...Chevron’s chief executive hit back at ExxonMobil on Tuesday, expressing “surprise” at its decision to seek arbitration in a tense stand-off over a lucrative Guyana oil project....
...Hess, analysts said, had long been a prime target....
...Sing, Muse, of a nasty piece of work. “The face that launched a thousand ships,” wrote Marlowe — not to praise Helen of Troy’s beauty, but condemn it as the mask of a succubus....
...is a change of control at Hess....
...after the clean energy producer shared a bullish outlook and plans to increase its dividend...
...Hess’s chief executive John Hess, who is expected to join Chevron’s board, said the merger would create a “premier integrated energy company”....
...Chevron on Monday announced its biggest ever acquisition: a $53bn deal for US operator Hess, giving it a foothold in oil production off the coast of Guyana, the industry’s most significant discovery in the...
...How much longer he will continue to run the bank is a subject of regular speculation on Wall Street....
...As the oil industry continues to be a hotbed of debate, John Hess intends to weigh in on energy transition conversations as a member of Chevron’s board....
...The price of gold climbed to a record high on Wednesday, moving above $2,200 per troy ounce for the first time....
...Bullion hit a record high of $2,135 per troy ounce momentarily in intraday trading in December....
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