Chevron closed its $55 billion acquisition of Hess on Friday after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.

Good afternoon and happy Friday, readers! We’ve got some good news for those living in the DMV region. Lower dew points and lower levels of humidity are poised to roll in in the coming days – much needed relief for those of us melting the second we step outside.

Chevron won its hotly contested legal battle against rival Exxon Mobil, allowing it to immediately close its $53 billion acquisition of Hess on July 18 and give the Big Oil major access to arguably the biggest oil discovery of the century offshore of sparsely populated Guyana.

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 completed its $53 billion purchase of Hess after winning an arbitration case brought by rival Exxon Mobil and the China National Offshore Oil Corporation.

Exxon Mobil is poised for renewed growth, driven by its dominant positions in the Permian Basin and Guyana. Learn why XOM stock is a Buy.

XOM, HD, and IBM face distinct macro pressures, but AI, Permian strength, and digital upgrades continue to fuel long-term growth.

A wealthy Guyanese businessman who is sanctioned by the US for alleged tax evasion on gold exports has officially entered the race to lead the oil-rich South American nation.