Exxon-Pioneer, Chevron-Hess Mergers Receive Conditional FTC Approvals

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Exxon-Pioneer, Chevron-Hess Mergers Receive Conditional FTC Approvals

Exxon Mobil Corporation’s XOM acquisition of Pioneer Natural Resources was given the final approval by the U.S. regulatory body, the Federal Trade Commission (“FTC”), on Jan. 17, 2025. In the same round of consolidation surrounding the U.S. oil and gas sector, the $53 billion merger between Chevron Corporation CVX and Hess Corporation HES was also approved by the FTC. However, the decision was not unanimous, implying that there was a difference …