ExxonMobil and Chevron to Do Battle over $1tn Oilfields in Guyana

U.S. Oil Giants Fight Over Guyana’s 11-Billion Barrel Treasure Trove

This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the world’s most lucrative oil projects. Guyana’s Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. Hess Corp, and CNOOC of China. The high-volume, low-cost development offshore the South American country, which started pro…

Exxon and Chevron Battle in $1 Trillion Arbitration for Guyana’s Oil Crown

A legal clash between ExxonMobil and Chevron over a 30% stake in Guyana’s Stabroek Block—a reservoir holding over 11 billion barrels of oil—has reached a critical phase. Confidential arbitration hearings began May 26, 2025, in London to resolve whether Exxon can block Chevron’s $53 billion acquisition of Hess Corporation, which owns the contested share. The […]

ExxonMobil and Chevron to do battle over $1tn oilfields in Guyana

Dispute over stake in Hess’s Stabroek oilfield has implications for joint operating agreements between companies

Exxon, Hess to Face Off Over Chevron Deal For Oilfield Riches

Exxon Mobil and Hess are set to face each other in court to determine the fate of Chevron’s $53-billion acquisition of Hess.

Exxon-Chevron rift could last for years

Chevron’s $53 billion bid to acquire Hess hinges on a high-stakes arbitration with ExxonMobil, which claims a right to Hess’ coveted stake in Guyana’s booming oil fields, The Wall Street Journal writes.  The region has quickly become one of the most profitable in the world, with daily output nearing 650,000 barrels and projected to double by 2027—surpassing even the Bakken Shale. For Chevron, securing Hess would plug long-term gaps in its produc…

Guyana Comes Calling as it Prepares to Develop Vast Offshore Resources

The South American nation of Guyana has come knocking, seeking out offshore exploration expertise as it attempts to develop a massive offshore oil find. NSB-Omega, a technical consulting and staffing company, is among the companies recruiting workers with experience in offshore oil development. Company spokesman Philip Harrington says the potential in Guyana is huge. He calls Guyana “a frontier market” with resources “far and away from what we’v…