CVX Stock Recent News

Chevron CEO Mike Wirth joins CNBC's 'Squawk on the Street' to discuss the company's completed acquisition of Hess after defeating Exxon in dispute over Guyana oil assets, whether the deal changes the balance of capex vs. capital returns, and much more.

ExxonMobil will now have a new, very familiar partner in its massive project in the deepwaters off the coast of tiny South American nation Guyana after Chevron emerged the winner in a 16-month-long arbitration case on Friday.

Chevron will proceed with its $53 billion acquisition of Hess after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades off the coast of Guyana.

HOUSTON--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) announced today that it has completed its acquisition of Hess Corporation (NYSE: HES) following the satisfaction of all necessary closing conditions, including a favorable arbitration outcome regarding Hess' offshore Guyana asset. The combined company has one of the most advantaged and differentiated portfolios in the industry, with leading positions in critical energy markets around the world and a high cash margin production profile. I.

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It's a big win for Chevron. Buying Hess without the Guyana project would have wiped out the biggest upside from the deal.

Chevron has prevailed against Exxon Mobil in a dispute over Hess Corporation's offshore oil assets in the South American nation of Guyana.

CNBC's Becky Quick reports on the latest news.

A panel of three arbitrators says Chevron can clinch its long-delayed $53 billion acquisition of Hess, after Exxon tried to pre-empt the deal.

Chevron will proceed with its $53 billion acquisition of Hess , CNBC reported on Friday, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.