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The Independent UK

National

Matthew Daly

FTC opens inquiry of Chevron-Hess merger, marking second review this week of major oil industry deal

Chevron Hess FTC Oil United States The Federal Trade Commission Chuck Schumer Exxon

Copyright 2023 The Associated Press. All rights reserved.

The Federal Trade Commission is investigating Chevron's acquisition of Hess oil company, the second inquiry the independent agency has opened this week of a major oil industry merger.

Chevron and Hess said in separate filings that the FTC is seeking additional information and documentary materials related to Chevron's proposed $53 billion purchase of Hess, announced in October.

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