Guyana Fight Shows Big Oil’s Need for Cheap Crude
Exxon Mobil and Chevron’s tug-of-war over a $1 trillion deposit is part of the industry’s shifting climate strategy.
Arbitrators said it will be another year before they settle a dispute between Chevron Corp. and Exxon Mobil Corp. over claims to a Guyana oil field.
Photographer: Michael Nagle/BloombergWelcome to our guide to the energy and commodities markets powering the global economy. Today, reporter Kevin Crowley examines what the Chevron-Exxon dispute says about Big Oil’s climate strategy. Our Big Take details the Adani Group’s $213 billion succession plan. To get this newsletter sent to your inbox, sign up here.
The battle between Chevron Corp. and Exxon Mobil Corp. over Guyana’s $1 trillion oil field took another twist last week, when arbitrators said they would need nearly a year to settle the dispute.