Sanctioned Magnate Launches Outsider Bid to Lead Oil-Rich Guyana
Azruddin Mohamed is among seven candidates challenging incumbent President Irfaan Ali, who is seeking a second five-year term in the Sept. 1 vote.
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Key Points It's been nearly two years since Chevron announced it would acquire Hess. Guyana is rich with geographically advantaged reserves. ExxonMobil and Chevron are supporting their high dividend yields with cash flow. 10 stocks we like better than Chevron › October 2023 was a big month for oil and gas shake-ups. ExxonMobil (NYSE: XOM) announced an all-stock merger with exploration and production (E&P) company Pioneer Natural Resources. Chevron (NYSE: CVX) followed suit with a similar-size deal to buy E&P Hess. ExxonMobil completed its acquisition in May 2024, but it wasn't until July 18, 2025, that Chevron finally announced it had acquired Hess. Here's why Chevron's deal was delayed, what it means for the investment thesis, and which dividend-paying energy stock is the better buy now. From adversaries to partners The most valuable aspect of Hess' business is its 30% stake in the Stabroek Block in offshore Guyana. The other holders are ExxonMobil, with a 45% interest, and Chinese state-owned CNOOC with a 25% stake. ExxonMobil has been exploring reserves in offshore Guyana since 2008. In 2015, it achieved its first exploration well. Since then, it and the rest of the consortium have ramped up their production -- reaching 500 million barrels of total oil produced from the Stabroek Block in November 2024. The consortium plans to grow production to 1.3 million barrels per day by the end of 2027. For context, ExxonMobil produced 4.55 million barrels of oil equivalent per day in the first quarter of 2025. Needless to say, Guyana has become one of the company's top producing regions. In fact, it identified Guyana as one of its "advantaged assets," which are high-margin investment opportunities. Other advantaged assets include the company's onshore exposure in the Permian Basin in Texas and its liquefied natural gas (LNG) portfolio. ExxonMobil plans to have 60% of its production come from the Permian, Guyana, and LNG by 2030. Given that it had the largest stake in the Stabroek Block, it was in ExxonMobil's best interest to prevent arguably its largest competitor from joining the consortium. It engaged in a lengthy dispute with Chevron, contending that the deal triggered a change-of-control clause. The ruling went in favor of Chevron, and the deal moved forward. Although ExxonMobil would probably have preferred to partner with a pure-play E&P like Hess rather than a global integrated major like Chevron, the change of ownership won't directly harm ExxonMobil. And Chevron's backing could help the consortium develop the block even faster. As for Chevron, the company gains access to one of the most valuable offshore plays in the world -- rich in reserves with decades of development potential at a low cost of production. The cash cow playbook The oil and gas industry experienced a significant downturn in 2014 and 2015. It took years to recover, and then the industry entered yet another downturn in 2020 due to the pandemic. Investors were not happy, and ExxonMobil's and Chevron's stock prices hit multiyear lows, and the companies reported billions in losses that year. To regain investor confidence, ExxonMobil and Chevron have focused on improving the quality of their production assets. A combination of technological advancements, efficiency improvements, and doubling down on regions with geographic advantages has enabled both companies to reduce their break-even levels, allowing them to generate positive free cash flow even at relatively low oil and gas prices. This advantage aids in forecasting multiyear capital allocation strategies -- including operating expenses, capital expenditures, buybacks, and dividends -- as well as expanding low-carbon investments. ExxonMobil and Chevron have become much stronger and balanced companies over the years. The former's corporate plan through 2030 forecasts a break-even Brent crude price per barrel of just $30 by 2030 and $165 billion in cumulative surplus operating cash flow even if Brent prices average just $65 per barrel. Chevron has an even lower breakeven than ExxonMobil, estimated in the low $30 Brent range by consulting firm Wood Mackenzie. The integration of Hess and development of reserves in offshore Guyana should help Chevron grow its production while maintaining a low cost of production. Two quality dividend stocks at attractive valuations Having a low cost of production allows ExxonMobil to support its growing dividends at lower oil and gas prices, generating substantial excess cash flow even at mid-cycle prices to repurchase stock and invest in new projects. ExxonMobil has increased its dividend for 42 consecutive years and yields 3.6%, while Chevron has a 38-year streak and yields 4.5%. With both companies expecting steady long-term earnings growth, ExxonMobil's 14.6 price-to-earnings ratio (P/E) and Chevron's 17.4 P/E seem like bargains. Add it all up, and ExxonMobil and Chevron are both great buys now for value investors looking to boost their passive income. Do the experts think Chevron is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Chevron make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,041% vs. just 183% for the S&P — that is beating the market by 858.71%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Daniel Foelber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron. The Motley Fool has a disclosure policy. Chevron Overcomes ExxonMobil to Acquire Hess. Which High-Yield Energy Stock Is the Better Buy Now? was originally published by The Motley Fool
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In the race for New York City mayor, things seem to be heating up between incumbent Eric Adams and former Gov. Andrew Cuomo. The independent candidates took aim at each other Sunday about their pasts. Parades were the backdrop for Adams and Cuomo engage in a war of words. At the Bronx Dominican Parade, the mayor called out Cuomo for stepping down as governor in 2021, when he was investigated for sexual harassment allegations. Adams drew from his experience with now-dismissed federal corruption charges. "I hung in there. I made a commitment to the city, that I was gonna serve as their mayor. He did not. He abandoned the state, and he stepped down from his role and his responsibility," Adams said. Cuomo, who was grand marshal at this year's Colombian Parade in Queens, fired back. "During his personal strife, he went and made a deal with President Trump to save himself at the cost of New Yorkers, and he put himself over the interest of New Yorkers," Cuomo said. Adams referenced the Department of Justice's lawsuit last week against the city over its sanctuary policies, saying, "You don't make deals with someone you eventually get sued by." Cuomo said Adams put himself over New Yorkers by meeting with Trump before his corruption case was dropped. "He turned his back on New Yorkers," Cuomo said. "New Yorkers will never forget that." Adams and Cuomo are trying to beat Democratic candidate Zohran Mamdani in November. According to a Wick Insights Poll from last week, Mamdani, an assemblyman from Queens, has a double-digit lead over Cuomo -- 39% to 21%. Republican Curtis Sliwa comes next with 18%, followed by Adams with 9% and 13% undecided. Wick, in partnership with the "Next Up with Mark Halperin" podcast, surveyed 500 likely voters in New York City from July 18-20. The results show Mamdani holding an early lead in a crowded field, potentially driven by perceptions that he best represents working families, challenges the status quo, and is most likely to put New York first. The poll also found Mamdani's advantage shrinks in a direct matchup with Cuomo to a near statistical tie. In a potential Mamdani-Adams matchup, the poll found Mamdani would lead by 10%.
