Chevron’s Hess deal boosts Guyana exposure and adds shale growth, while strong cash flow and returns support its outlook. Learn why CVX stock is a buy.

Chevron's blockbuster, $53 billion acquisition of Hess Corp. is complete after a dispute panel ruled against Exxon in arbitration over Hess assets in a massive oilfield off Guyana's coast. Why it matters: The International Chamber of Commerce panel's decision enables a pivotal deal for Chevron that had been held up for over a year in a clash with rival titan Exxon.

Hess Corp.'s planned $53 billion sale to Chevron Corp.—which could close imminently if an arbitration panel rejects a challenge by Exxon Mobil Corp.—was likely engineered to favor CEO John Hess, according to a lawsuit filed Thursday.

Chevron Corporation (NYSE: CVX) announced today that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess’ offshore Guyana asset.

The ICC ruled in favor of Chevron’s $53 billion acquisition of Hess, granting it a 30% stake in Guyana's Stabroek Block.

Forty-odd years after leaving the employ of the refinery, the St. Lucian-born Edward was diagnosed with multiple myeloma, a cancer of the blood's plasma cells. According to the lawsuit, Mr. Edward was diagnosed in July 2023, and died at the end of September 2024.