Chevron Closes Hess Deal
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Chevron won its hotly contested legal battle against rival Exxon Mobil, allowing it to immediately close its $53 billion acquisition of Hess on July 18 and give the Big Oil major access to arguably the biggest oil discovery of the century offshore of sparsely populated Guyana.
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 closed its $55bn (R975bn) acquisition of Hess on Friday after winning a landmark legal battle against ExxonMobil in the International Chamber of Commerce (ICC) to gain access to the largest oil discovery in decades.
Chevron announced Friday that it has completed its $53 billion acquisition of Hess after an international commerce body ended a long-running legal battle that had hobbled the deal.
Chevron can quickly proceed with its $53 billion acquisition of Hess, after winning a landmark legal battle against larger rival Exxon Mobil, gaining access to the largest oil discovery in decades.Chevron CEO Mike Wirth's strategy to turn around his company's lagging performance hinges on the acquisition,