Zhong Guo Hua Gong Bao·2025-08-01 02:17Core Insights - The International Chamber of Commerce arbitration panel ruled in favor of Hess in a contractual dispute with ExxonMobil regarding the Stabroek block offshore Guyana, facilitating Chevron's $53 billion acquisition of Hess [1] - Chevron announced that the combined company's capital expenditure budget is expected to be between $19 billion and $22 billion, with anticipated operational cost synergies of $1 billion by the end of 2025 [1] - Following the arbitration ruling, Hess's stock surged by 7.67% in pre-market trading, while Chevron's stock rose by 3.7%, indicating positive market sentiment towards the deal [1] Company Summaries - Chevron has completed the acquisition of Hess, pending all necessary closing conditions, and plans to provide updated long-term financial and operational guidance on November 12 in New York [1] - ExxonMobil, which holds a 45% stake in the Stabroek block, disagrees with the arbitration panel's interpretation but respects the arbitration and dispute resolution process [1] - Hess and Chevron argue that ExxonMobil's claim to a right of first refusal on Hess's 30% stake is not applicable, as the transaction is a corporate merger rather than an asset sale [1]