In his first public remarks on the company’s pursuit of an arbitration case that could block Chevron’s $53-billion deal for Hess, Woods said Exxon would not have waited for Chevron to announce its Hess deal if it had wanted to buy Hess.
Earlier this month, Exxon filed a contract arbitration claim over Hess’ proposed sale of its Guyana oil properties, a move that left open the prospect of an Exxon counterbid. Chevron’s acquisition of Hess has been stalled by the U.S. Federal Trade Commission’s request for additional information on the merger. That request pushed back any closing to at least the middle of this year.
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