Chevron's arbitration victory over Exxon and closing of its $53B acquisition of Hess helps solve one of Chevron's biggest problems - where its growth will come from beyond the next few years

The conclusion of the saga removes a stock overhang for Chevron and paved the way for the $53 billion deal to close immediately.

Takeover arbitragers, which have included Warren Buffett, are having a favorable 2025 after two disappointing years.

Chevron completed its $53 billion acquisition of Hess after all legal hurdles were cleared, including the company's vast oil fields off the coast of Guyana.

A ruling from the International Chamber of Commerce has cleared Chevron's $53 billion acquisition of Hess, ending one of the biggest battles between two majors in decades.

Chevron struck the deal to acquire Hess in October 2023. Exxon tried to block the move last year, saying it had a right of first refusal to buy Hess’ Guyana assets because of its joint operating agreement with Hess and the China National Offshore Oil Corp., or Cnooc, for the Stabroek Block.

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 (CVX) gets the green light to move forward with its $53 billion acquisition of Hess (HES), after an arbitration panel rejected ExxonMobil's (XOM) claim in a dispute over assets in Guyana. BP (BP) is offloading its US onshore wind business to LLS Power,