Exxon Mobil (XOM) CEO Darren Woods said the tense dispute with Chevron (CVX) over a Guyana oilfield will not damage the relationship between the two companies, Myles McCormick and Jamie Smyth of The Financial Times says. Exxon has begun an arbitration process against Chevron over its $53B deal for Hess (HES), arguing it has a right of refusal over Hess’ stake in Stabroek Block off the coast of Guyana. The standoff between the two companies threatens to complicate their joint ventures.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on XOM:
- Exxon Mobil (NYSE:XOM) Doesn’t Have Acquisitions on Its Mind
- Crude Oil (CM:CL) Closes Lower despite Bullish Fundamentals
- Exxon Mobil price target lowered to $130 from $142 at Piper Sandler
- TotalEnergies price target lowered to $75 from $76 at Piper Sandler
- Shell price target raised to $76 from $75 at Piper Sandler