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International Business Times
International Business Times
Business
AFP News

US Clears ExxonMobil Deal, Bars Pioneer Ex-chief From Board

ExxonMobil Pioneer Scott Sheffield Exxon United States FTC OPEC Pioneer Natural Resources
Scott Sheffield, shown here on a February 2022 panel with the CEO of Saudi Aramco, will be barred from the ExxonMobil board under a proposed consent order by the Federal Trade Commission (Credit: AFP)

US antitrust authorities cleared ExxonMobil's acquisition of Pioneer Natural Resources under the condition that the shale producer's former CEO be barred from the company's board, regulators announced Thursday.

A proposed consent order barred longtime Pioneer CEO Scott Sheffield from the ExxonMobil board of directors, citing his "collusive" activity with crude exporters from the OPEC+ group of countries, a Federal Trade Commission (FTC) press release said.

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