The Federal Trade Commission (FTC) has finalized (17 January) a consent order addressing antitrust concerns related to Chevron Corporation’s acquisition of Hess Corporation.
Key provisions of the order include:
- Prohibiting Chevron from appointing Hess CEO John B. Hess to its board or allowing him to serve in an advisory or consulting role, except under specific conditions.
- Allowing John Hess to consult on matters exclusively related to Hess’s activities in Guyana and the Salk Institute’s Harnessing Plants Initiative.
The order resolves FTC charges raised in September 2024 and follows a public comment period. The Commission voted 3-2 to approve the order, with dissent from Commissioners Melissa Holyoak and Andrew N. Ferguson.
