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 largest oil discovery in decades.

Chevron's arbitration victory over Exxon and closing of its $53B acquisition of Hess helps solve one of Chevron's biggest problems - where its growth will come from beyond the next few years

Chevron won its hotly contested legal battle against rival Exxon Mobil, allowing it to immediately close its $53 billion acquisition of Hess on July 18 and give the Big Oil major access to arguably the biggest oil discovery of the century offshore of sparsely populated Guyana.

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A wealthy Guyanese businessman who is sanctioned by the US for alleged tax evasion on gold exports has officially entered the race to lead the oil-rich South American nation.

SBM Offshore's Jaguar floating production, storage and offloading vessel hull has entered drydock in Singapore, marking a major step forward in the unit's deployment to US supermajor ExxonMobil offshore Guyana.