Chevron Closes $53B Purchase of Hess After Arbiter Ends Exxon Effort to Block It
1. Chevron completed its $53 billion purchase of Hess after arbitration victory. 2. The ICC dismissed Exxon and CNOOC's challenge to the acquisition. 3. Chevron gains access to oil-rich fields in Guyana with this acquisition. 4. Chevron boasts a 30% position in the Guyana Stabroek Block. 5. Exxon Mobil disputes the ICC's ruling but acknowledges Chevron's entry.