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Hess says aiming to resolve Guyana arbitration claims by 2024 end

Reuters
·1-min read

April 12 (Reuters) - An Exxon Mobil arbitration case that could block the sale of one of its Guyana partners, Hess Corp, to Chevron could drag on until year-end, Hess said in a U.S. securities filing on Friday.

Earlier this year, Exxon filed the case seeking to preserve its right to evaluate making a bid for Hess's 30% stake in the giant Stabroek offshore oil block if Chevron proceeds with its proposed $53 billion purchase.

As per the filing, Hess is seeking to have the merits of the arbitration heard by the third quarter of 2024 and complete the arbitration by the end of the year.

The filing also made it clear that neither Chevron nor Hess can predict the actual date on which the transaction will be completed. (Reporting by Mrinalika Roy in Bengaluru; Editing by Shailesh Kuber)