17 July 2025 – Washington, D.C.:
The Federal Trade Commission has unanimously voted to reopen and set aside the final consent order related to Chevron Corporation’s acquisition of Hess Corporation. The January 2025 order had prohibited Hess CEO John B. Hess from joining Chevron’s board, citing concerns over his alleged supportive messaging to OPEC.
Following a petition from Chevron and Hess in March and a public comment period, the FTC determined that the original complaint lacked legal grounding. It failed to allege any violation of Section 7 of the Clayton Act, presented no claims that the merger would reduce competition or increase coordination among oil producers, and disregarded long-standing merger guidelines and precedent.
Finding that the restrictions on Mr. Hess’s board role were unjustified and harmful to the agency’s credibility, the FTC concluded that vacating the order was in the public interest. The decision was approved 3–0.
