Green Light for Chevron to Buy Hess

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.