The cloud hanging over Chevron’s year-long arbitration with ExxonMobil and CNOOC International over Hess’ stake in Guyana's prolific Stabroek block is gone, providing more clarity on the US supermajor’s future amid nearly two years of highs and lows, analysts said on Friday after Chevron and Hess won their showdown with their fellow oil titans.

Chevron’s $53bn acquisition of Hess is set to proceed after ExxonMobil failed in its attempt to block the deal in a landmark arbitration case over access to one of the largest oil discoveries in decades.