The US Federal Trade Commission is expected to greenlight Chevron’s purchase of Hess Corporation as soon as this week, according to a report from Reuters, leaving ExxonMobil’s challenge to the $53 billion (€48 billion) deal as its final hurdle. The proposed merger was first announced last October, and the FTC sent a second information request to Chevron two months later. Exxon and CNOOC, Hess’s partners in a Guyana joint venture, are challenging the deal by claiming a right of first refusal to any sale of Hess’s Guyana assets. A three-judge arbitration panel is due to consider the case in May 2025.
Terminal News
Chevron Confirms Oil Discovery at Bandit Prospect
Chevron has confirmed an oil discovery at the Bandit prospect in the Gulf of America, as announced by operator Occidental. The exploration well is located in Green Canyon Block 680,
April 10, 2026
