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Good article about Clause 9.2 works with 7.6
| burgundy aromatic abode | 07/20/25 |
| Marvelous point personal credit line | 07/20/25 |
| lavender home | 07/21/25 |
| burgundy aromatic abode | 07/20/25 |
| burgundy aromatic abode | 07/21/25 |
Poast new message in this thread
Date: July 20th, 2025 11:42 AM Author: burgundy aromatic abode “The 20-month feud between the Western Hemisphere’s two most powerful oil companies over the biggest offshore discovery in a generation hinged on a single clause of a contract few people have ever seen.”
https://archive.ph/Y4Qbx |
Date: July 20th, 2025 11:43 AM Author: Marvelous point personal credit line 759144711186508463273 (http://www.autoadmit.com/thread.php?thread_id=5752626&forum_id=2).#49116302) |
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Date: July 21st, 2025 10:27 AM Author: lavender home (http://www.autoadmit.com/thread.php?thread_id=5752626&forum_id=2).#49118502) |
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Date: July 20th, 2025 1:54 PM Author: burgundy aromatic abode The clause at the center of the Exxon-Chevron feud involves a preemption right in a joint operating agreement (JOA) for the Stabroek oil block in Guyana. Specifically, it gave Exxon and its partners (including CNOOC) the right of first refusal if another partner attempted to sell its interest in the oil field.
When Chevron announced its $53 billion acquisition of Hess — which includes Hess’s 30% stake in the Stabroek block — Exxon invoked this clause, arguing that it had the contractual right to match or block the sale of that stake. Chevron and Hess countered that the clause didn’t apply to corporate-level mergers, only to asset-level sales.
This disagreement triggered arbitration and nearly derailed the Chevron-Hess merger. Exxon saw the clause as essential for protecting its investment and operational control in Guyana, while Chevron viewed Exxon’s stance as a strategic move to interfere with a major acquisition. |
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Date: July 21st, 2025 10:26 AM Author: burgundy aromatic abode (http://www.autoadmit.com/thread.php?thread_id=5752626&forum_id=2).#49118501) |