Chevron Exxon Hess Buyout

• Updates 1

Exxon are in dispute with Chevron over their deal to buy Hess. Exxon claim that an agreement between them and Hess for a joint operation in substantial offshore zones in Guyana, gives them the right to purchase this Hess asset. #qq# Chevron will not want to give up this #q#potentially very lucrative area#q#, which would give them a large boot-hold in this up and coming country. Indeed, it may have been one of the major factors behind Chevron's decission to buy Hess in the first place. The legal departments of both companies will sort this out, eventually.

Updates :-

• Amanda Duarte
  There is a lot at stake here for both companies. Guyana is expected to becomoe a major producer of oil in the years to come.

More on this story at >> CNBC

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