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Hess Reviewing Timeline for Closing Chevron Deal

OIL

US oil producer Hess said March 7 that it was reviewing the timeline for closing its merger with Chevron, after Exxon Mobil signalled a potential counteroffer, according to Reuters.

  • Exxon filed a contract arbitration claim linked to Hess’ proposed sale of its Guyana oil properties and suggested it may make a counteroffer.
  • Chevron’s acquisition of Hess has been stalled by the US Federal Trade Commission’s request for additional information on the merger.

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