Chevron won its hotly contested legal battle against rival Exxon Mobil, allowing it to immediately close its $53 billion acquisition of Hess on July 18 and give the Big Oil major access to arguably the biggest oil discovery of the century offshore of sparsely populated Guyana.
The long-awaited ruling from an arbitration panel overseen by the International Chamber of Commerce is a massive victory for Chevron and its CEO Mike Wirth who bet big on acquiring New York-based Hess despite the legal risks.
