The path is clear for ChevronCVX and HessHES to complete its $53 billion merger that was announced in 2023, giving Chevron access to Exxon Mobil'sXOM crown-jewel of Guyana's oil-rich offshore zone.An International Chamber of Commerce in Paris (ICC) arbitration panel ruled before the stock market open Friday in favor of Chevron and Hess.

Chevron closed its $55 billion acquisition of Hess on Friday after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the biggest oil discovery in decades - the Stabroek Block off the coast of Guyana,

Chevron completed its $53 billion purchase of Hess after winning an arbitration case brought by rival Exxon Mobil and the China National Offshore Oil Corporation.