Exxon, FTC and Sheffield
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Hess, Chevron and Exxon
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Chevron won its hotly contested legal battle against rival Exxon Mobil, allowing it to immediately close its $53 billion acquisition of Hess on July 18 and give the Big Oil major access to arguably the biggest oil discovery of the century offshore of sparsely populated Guyana.
The FTC reversed an order barring Scott Sheffield from Exxon’s board, but the former Pioneer CEO said he was no longer interested in joining.
But the agency set aside Pioneer Natural Resources founder Scott Sheffield's request on technical grounds, saying he made the request under an inapplicable FTC rule.