Exxon-Hess Arbitration Case Close to End ...Middle East

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Exxon-Hess Arbitration Case Close to End
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The arbitrators for a dispute between Exxon and Hess Corp. have reached a decision, according to two unnamed sources who spoke to Reuters but did not divulge details about that decision. It remains unclear when the decision will be made public. The dispute between the two concerns the latter’s stake in the Stabroek Block in Guyana, which has yielded a string of oil discoveries since the start of exploration, giving Exxon and Hess—along with their partner CNOOC—access to over 11 billion barrels in recoverable crude. Exxon holds…

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