Chevron’s imminent entry into Guyana’s rich offshore oilfields solves one of the biggest problems dogging the U.S. major: where its growth will come from beyond the next few years.

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.

Arbitrators cleared the way for the long-delayed $53 billion acquisition after Exxon tried to pre-empt the deal.