ExxonMobil (XOM) Eyes Guyana Stake, Aims to Oust Chevron

Exxon Mobil Corporation (XOM) and CNOOC Ltd. are considering exercising their rights to acquire Hess Corporation’s (HES) stake in a major offshore oil development in Guyana.The move threatens to disrupt Chevron Corporation’s (CVX) ambitious $53-billion acquisition aimed at securing a 30% interest in the lucrative Guyana oil block, a deal central to Hess’ offerings.ExxonMobil announced its potential preemption of Chevron’s acquisition, signaling a brewing dispute over the Stabroek block. The contention arise ...