Hess shares drop as fight with Exxon Mobil over Guyana oil threatens Chevron takeover
Publishing timestamp: 2024-02-27 12:03:28
Summary
Chevron warned investors that Exxon and CNOOC are claiming preemptive right to purchase Hess' stake in Guyana's offshore oil assets, potentially jeopardizing Chevron's acquisition of Hess. The dispute could delay or derail the merger, but analysts believe a resolution will be reached, possibly involving a payout to settle the dispute.
Sentiment: MIXED
Keywords: exxon mobil corp, chevron corp, business news, markets, energy, hess corp, guyana, breaking news: markets,