Analysis-Exxon's curveball move in Guyana alters Chevron-Hess deal prospects
Exxon Mobil's surprise challenge to Chevron's acquisition of Hess through a dispute over a stake in a major Guyana oil field could prove fruitful for the U.S. oil giant, even if it does not end up enlarging its holdings in the South American country. Exxon said on Monday it may exercise pre-emptive rights that could block Chevron from acquiring a 30% stake in a giant Guyana oil block, the centerpiece of its rival's $53 billion deal to buy Hess. The largest U.S. oil producer's aim could be to get Chevron to raise its commitments to the capital-intensive Stabroek block, whi...
Source: yahoo.com
