Exxon sanctions $12.7 billion Guyana project amid arbitration with Chevron

Spring-based Exxon Mobil Corp. (NYSE: XOM) has reached a final investment decision for its $12.7 billion Whiptail project in the Stabroek Block offshore Guyana. The block is the subject of a dispute between Exxon and Chevron Corp. (NYSE: CVX), which plans to acquire Hess Corp. (NYSE: HES), another Stabroek partner.