{"id":1193,"date":"2025-07-18T23:20:21","date_gmt":"2025-07-18T23:20:21","guid":{"rendered":"https:\/\/energyguyana.gy\/?p=1193"},"modified":"2025-07-18T23:20:21","modified_gmt":"2025-07-18T23:20:21","slug":"exxonmobil-responds-to-international-chamber-of-commerce-arbitration-ruling","status":"publish","type":"post","link":"https:\/\/energyguyana.gy\/index.php\/2025\/07\/18\/exxonmobil-responds-to-international-chamber-of-commerce-arbitration-ruling\/","title":{"rendered":"ExxonMobil Responds to International Chamber of Commerce Arbitration Ruling"},"content":{"rendered":"\n<p> SPRING, Texas&#8211;(BUSINESS WIRE)&#8211;Exxon Mobil Corporation&nbsp;(NYSE:XOM) released a statement today following a ruling by the International Chamber of Commerce (ICC) Tribunal related to its contractual dispute with Hess Corporation over interests in the Stabroek Block offshore Guyana:<\/p>\n\n\n\n<p>STATEMENT:<\/p>\n\n\n\n<p>We disagree with the ICC panel\u2019s interpretation but respect the arbitration and dispute resolution process. As we\u2019ve said before, ExxonMobil and CNOOC are aligned that we had a duty to ensure contract terms are always adhered to and not set a bad precedent for ourselves and industry.<\/p>\n\n\n\n<p>Given the significant value we\u2019ve created in the development of the Guyana resource, we believed we had a clear duty to our investors to consider our preemption rights to protect the value we created through our innovation and hard work at a time when no one knew just how successful this venture would become.<\/p>\n\n\n\n<p>We welcome Chevron to the venture and look forward to continued industry-leading performance and value creation in Guyana for all parties involved.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SPRING, Texas&#8211;(BUSINESS WIRE)&#8211;Exxon Mobil Corporation&nbsp;(NYSE:XOM) released a statement today following a ruling by the International Chamber of Commerce (ICC) Tribunal related to its contractual dispute with Hess Corporation over interests in the Stabroek Block offshore Guyana: STATEMENT: We disagree with the ICC panel\u2019s interpretation but respect the arbitration and dispute resolution process. As we\u2019ve said [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":13,"footnotes":""},"categories":[2,71],"tags":[],"class_list":{"0":"post-1193","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-press-release"},"_links":{"self":[{"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/posts\/1193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/comments?post=1193"}],"version-history":[{"count":1,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/posts\/1193\/revisions"}],"predecessor-version":[{"id":1194,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/posts\/1193\/revisions\/1194"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/media\/1187"}],"wp:attachment":[{"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/media?parent=1193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/categories?post=1193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/energyguyana.gy\/index.php\/wp-json\/wp\/v2\/tags?post=1193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}