An Exxon Mobil arbitration case that could block the sale of Hess Corp to Chevron could drag on until year-end, Hess said in a U.S. securities filing on Friday. The filing signals any closing of its $53 billion sale to Chevron could fall into next year, at least six months later than a prior goal of finalising the deal the middle of this year. Exxon and CNOOC Ltd filed cases before the International Chamber of Commerce last month seeking to claim a right to a first refusal over any sale of Hess’s 30% stake in the giant Stabroek offshore oil block, home of the largest oil discovery in nearly a decade.
Yahoo! Finance: HES News
