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Former Pioneer CEO Sheffield says US FTC 'dead wrong' about messages to OPEC

( May 28, 2024, 23:46 GMT | Official Statement) -- MLex Summary: The US Federal Trade Commission's claim that former Pioneer Natural Resources CEO Scott Sheffield “exchanged hundreds of text messages" about crude oil market pricing and output with representatives of the Organization of Petroleum Exporting Countries is "dead wrong," according to a public comment submitted on his behalf asking the FTC to vacate its proposed consent order approving ExxonMobil's $60 billion purchase of Pioneer. The agency has "wrongly attacked Mr. Sheffield and deprived him of his right to take a seat on the Exxon Board in violation of fundamental tenets of administrative law," the comment said. See document below....

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