Oil production near Guyana is ramping up while production in places like the Permian Basin appears to be approaching a plateau.

Chevron is clear to proceed with its $53B acquisition of Hess after an arbitration panel dismissed Exxon Mobil's claim of a contractual right to bid for Hess' assets offshore Guyana.

Chevron has prevailed against Exxon Mobil in a dispute over Hess Corporation’s offshore oil assets in the South American nation of Guyana.