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The unified arbitration was approved after a March 26 application, according to a Hess letter to stockholders included in a Chevron regulatory filing on Thursday. Exxon and Beijing-based Cnooc, which own 45% and 25% of Stabroek, respectively, argue they have a right of first refusal over Hess’s stake in the block.
Exxon and CNOOC have merged their arbitration claims against Chevron's takeover of Hess's stake in the prolific Stabroek oil block offshore Guyana.
ExxonMobil and China National Offshore Oil Corporation (CNOOC) have merged their arbitration claims against Chevron’s takeover of Hess&rsquo...
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