Revenge is a dish best served cold …
After Chevron swoop away Unocal from Cnooc.
https://worldoil.com/news/2024/3/21/cnooc-joins-exxonmobil-in-chevron-dispute-over-oil-rich-guyana-reports-profit-decrease-as-production-grows/
5 replies (most recent on top)
Guyana laws will govern Guyana assets. Everyone thinks they knows the answer but I assure you it will be Exxon that wins
Why is XOM people praising their broken company here? If your company is so good what the f you are on this site anyway?
Oh please - CNOOC and CVX are JVP's in countless projects.
Good - F Chevron
I trust XOM’s interpretation over CVX any day
https://www.bloomberg.com/news/articles/2024-03-22/exxon-confident-its-intent-in-writing-guyana-contract-to-prevail
As arbitration between ExxonMobil and Chevron over Guyana looms, Exxon leans into "what was intended" by the joint operating agreement signed a decade ago.
“We certainly have strong feelings that we’re right,” Exxon SVP Jack Williams tells Michael Hirtzer. Chevron “has strong feelings they’re right as well, so it’ll be an interesting arbitration."
“But we did write it, so we have a view of what was intended.”
“ CNOOC will do whatever it takes to protect the interests of the firm and its shareholders by legal means, he said at a briefing in Hong Kong.”
Suggesting they see chevron being involved as a threat to the asset/profits - which seems like savvy analysis to be honest. Nobody can destroy value like chevron.