Exxon Mobil Corporation (NYSE:XOM) shares are trading lower on Tuesday. An arbitration panel deciding the high-profile dispute between Exxon Mobil and Chevron Corporation (NYSE:CVX) will reportedly examine the hidden value of Hess Corporation’s (NYSE:HES) oil assets in Guyana.
Chevron and Hess maintain that the valuation of the Guyana asset shouldn’t affect the arbitration, arguing that the transaction doesn’t constitute a change in control, reported Reuters.
The dispute centers on whether the deal triggers Exxon’s right of first refusal. The report noted Chevron’s CEO Michael Wirth has ruled out a compromise with Exxon and CNOOC, while Exxon’s CEO Darren ...
