14:33 - 18.03.2025

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March 18, Fineko/abc.az. In the first 3 months of 2025, Chevron bought 15.38 million shares of Hess Corp. at the open market.

ABC.AZ reports that this corresponds to 4.99% of the latter's securities.

All purchases were at a lower cost.

In October 2023, Chevron talked about buying Hess for $53 billion. The shareholders were to receive 1,025 Chevron shares for each of their securities. At that time, the Hess stock was valued at $171.

The purchase of the project was necessary for the company because of the oil project in Guyana. But after the deal was signed, Exxon Mobil Corp. announced the rights to the project. Proceedings in the International Chamber of Commerce on this issue will begin in May, and a decision will be made by September.