Hess Corporation's shareholders approved Chevron's $53-billion all-stock acquisition proposal, marking a significant milestone in the merger process. This approval comes despite the ongoing arbitration between ExxonMobil and Chevron over Exxon's claimed right of first refusal (ROFR) for Hess's stake in the Stabroek block, a key asset in Guyana's prolific oil fields. Chevron's proposal to acquire Hess has faced scrutiny from regulators and politicians, with Exxon asserting its right to pre-emptively match Chevron's offer due to its 30% stake in…
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