Exxon and Chevron Lock Horns Over Guyana Stake ...Middle East

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Exxon and Chevron Lock Horns Over Guyana Stake
source : OILPRICE ( Middle East ) () 56
Exxon and Chevron are discussing a potential acquisition by Exxon of Hess Corp’s stake in the Exxon-led oil operations off the coast of Guyana. Exxon claims it has the right of first refusal on the stake that Chevron was planning to absorb after its purchase of Hess for $53 billion. Hess had a 30% stake in the Stabroek Block where the operations are focused and it was that stake that largely motivated Chevron in its decision to buy Hess, Reuters wrote in a report on the news. Chevron has warned that if Exxon, which has a 45% stake…

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