Both executives touted their companies' robust performance in the first quarter of 2024, but Woods' focus on delivering value to Exxon's American shareholders while failing to acknowledge the Guyanese people, whose resources are being exploited, has drawn criticism. The dispute At the heart of the current dispute is Chevron's attempt to acquire Hess Corporation, whose Cayman Islands subsidiary has a branch in Guyana which holds a 30% stake in the Stabroek Block. Exxon and CNOOC, themselves branches of shell companies incorporated in low/no tax jurisdictions holding 45 and 25 percent respectively, are claiming that they have preemptive rights over Hess' shares, as outlined in a secret Joint Operating Agreement (JOA) between them.