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Chevron/Hess, In the Matter of

The Federal Trade Commission took action to resolve antitrust concerns related to Chevron Corporation’s acquisition of rival oil producer Hess Corporation by approving a proposed consent order that would prohibit Chevron from appointing Hess CEO John B. Hess to its Board of Directors.

The FTC’s complaint alleges that Mr. Hess communicated publicly and privately with the past and current Secretaries General of the Organization of Petroleum Exporting Countries (OPEC) and an official from Saudi Arabia. In these communications, Mr. Hess stressed the importance of oil market stability and inventory management and encouraged these officials to take actions on these issues and speak about them at different events, the complaint alleges.

On July 17, 2025, the FTC reopened and set aside the final consent order involving Chevron Corporation’s proposed acquisition of Hess Corporation.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
241 0008
Docket Number
C-4814
Case Status
Closed

Exxon Mobil Corporation, In the Matter of

On July 17, 2025, the FTC reopened and set aside the final consent order involving Exxon Mobil Corporation’s proposed acquisition of Pioneer Natural Resources Company.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
241 0004
Docket Number
C-4815
Case Status
Closed