Chevron closes Hess acquisition
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Chevron has scored a critical ruling in Paris that has given it the go-ahead for a $53 billion acquisition of Hess and access to one of the biggest oil finds of the decade. Chevron said Friday that it completed its acquisition of Hess shortly after the ruling from the International Chamber of Commerce in Paris.
The acquisition of Hess—and its stake in a generational oil find—helps clear up lingering doubts about Chevron’s growth prospects.
Chevron completed its purchase of Hess after prevailing in a legal dispute with Exxon over one of the most promising oil projects in the world.
Chevron (CVX) gets the green light to move forward with its $53 billion acquisition of Hess (HES), after an arbitration panel rejected ExxonMobil's (XOM) claim in a dispute over assets in Guyana. BP (BP) is offloading its US onshore wind business to LLS Power,
The U.S. Federal Trade Commission on Thursday reversed a previous order that had barred Hess Corp CEO John Hess from the board of directors at Chevron as a condition of the oil giant's pending $53 billion acquisition of his company.