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Chevron seals Hess deal as oil focus shifts to Guyana
The Observer
|July 20, 2025
Chevron has completed the takeover of US oil company Hess after winning a legal clash with rival ExxonMobil that had held the deal up for nearly two years.
It is a $53bn (£39bn) bet that a tiny country on the coast of South America is the holy grail of oil production — and a wager that could have extensive implications for the planet.
At the heart of the deal was Hess’s interest in an offshore oil production block in Guyana, an English-speaking country that borders Venezuela and Suriname. Exxon started drilling there alongside Hess and the giant China National Offshore Oil Company, discovering the equivalent of 11bn barrels beneath the Atlantic.
Denne historien er fra July 20, 2025-utgaven av The Observer.
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FLERE HISTORIER FRA The Observer
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