FTC Poised to Approve Chevrons Acquisition of Hess, Exxon Challenge Remains

The U.S. Federal Trade Commission is anticipated to approve Chevron`s acquisition of Hess, potentially clearing the way for the deal to proceed despite a challenge from Exxon Mobil. Exxon Mobil, a partner with Hess in a Guyana joint venture, claims a right of first refusal regarding the sale of Hess`s assets in the venture. This dispute is set to be addressed by an arbitration panel, with varying timelines for a decision. The potential merger, one of the largest in the U.S. oil and gas industry, has faced delays, while other significant mergers in the sector have already been finalized.