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Saturday, Jul 19, 2025
Outside the box.
Chevron Finalizes $53 Billion Hess Acquisition After Exxon Objection Rejected
Arbitrators clear last hurdle in oil industry’s major consolidation move
Chevron has completed its long-delayed $53 billion acquisition of Hess Corporation after an arbitration panel dismissed ExxonMobil’s claim seeking to pre-empt the deal.
The ruling paves the way for one of the largest recent consolidations in the energy sector, expanding Chevron’s presence in key oil-rich territories.
The closure marks a significant strategic win for Chevron as it strengthens its competitive position against global energy giants.
The ruling paves the way for one of the largest recent consolidations in the energy sector, expanding Chevron’s presence in key oil-rich territories.
The closure marks a significant strategic win for Chevron as it strengthens its competitive position against global energy giants.
