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US FTC finalizes consent order resolving antitrust concerns over Chevron, Hess deal

( January 17, 2025, 23:01 GMT | Official Statement) -- MLex Summary: The US Federal Trade Commission finalized a consent order that resolves antitrust concerns surrounding Chevron Corporation’s acquisition of oil producer Hess Corporation. Chevron is prohibited from nominating, designating or appointing Hess CEO John B. Hess to the Chevron company board. Chevron is allowed to consult with John Hess and allow him to serve as an advisor, consultant or representative of Chevron, solely related to interactions and discussions with Guyanese government officials about Hess’s oil-related and health ministry-related activities in Guyana, and the Salk Institute’s Harnessing Plants Initiative. "This relief will help ensure that these companies seek to respond to their rivals by competing rather than subordinating their independent decision-making to the goals set by a cartel," FTC chair Lina Khan said in a statement. Full statement follows. See attached documents...

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