Chevron has officially closed its acquisition of Hess Corporation, sealing a multibillion-dollar deal that reshapes the global energy landscape. The move comes after Chevron successfully overcame a legal challenge from ExxonMobil, which had sought to block the takeover based on preemptive rights tied to Hess’s stake in the massive Stabroek oil block in Guyana.
The legal dispute had cast uncertainty over the merger, but a recent ruling cleared the way for Chevron to proceed. The acquisition grants Chevron a significant position in one of the world’s fastest-growing oil regions, bolstering its long-term production capacity and global footprint.
Chevron CEO Mike Wirth hailed the closure as “a transformative moment for Chevron’s future,” emphasizing that the combined assets will enhance shareholder value and strengthen the company’s upstream portfolio.
The integration of Hess’s operations — particularly in Guyana, the Bakken shale, and Southeast Asia — is expected to play a key role in Chevron’s strategy to meet future energy demand while maintaining capital discipline.
Analysts say the deal also signals intensifying competition among oil supermajors for premium assets in geopolitically stable regions.
