Chevron closed its $55 billion acquisition of Hess on Friday after winning a landmark legal battle against larger rival Exxon ...

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

Chevron will proceed with its $53 billion acquisition of Hess, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.

Hess, headquartered in New York ... "We disagree with the ICC panel's interpretation but respect the arbitration and dispute resolution process," Exxon said in a statement to CNBC after the ruling.

Chevron would gain Hess' 30% interest in the Stabroek oilfield block in Guyana, which is operated by Exxon and holds more than 11 billion barrels of oil equivalent, providing a critical addition ...

The International Chamber of Commerce ruled in Chevron's favor in a dispute with Exxon over Hess' Guyana oil assets. Chevron's victory clears the way for its $53 billion acquisition of Hess to close.