Chevron Corporation, a U.S. energy company, has received approval from the Federal Trade Commission (FTC) to set aside a previous consent order that blocked John B. Hess, CEO of Hess Corporation, from joining Chevron’s Board of Directors. The FTC had originally finalized the order in January 2025, citing concerns over Hess’s past "supportive messaging" to OPEC and the potential for Chevron to align with OPEC’s production strategies if he joined the board. However, following a petition from Chevron and Hess in March 2025 and a period of public comment, the FTC unanimously voted 3-0 to reopen and withdraw the order, stating the original complaint lacked sufficient legal basis.
In its review, the FTC found that the complaint did not allege any violations under Section 7 of the Clayton Act, failed to show the deal would reduce competition, and ignored the agency’s Merger Guidelines and precedent. The Commission concluded that continuing to enforce the restrictions would “damage the FTC’s credibility and undermine its mission.” The original order had passed over the dissent of now-Chairman Andrew N. Ferguson and Commissioner Melissa Holyoak. The FTC’s reversal reflects its reassessment of the Chevron-Hess merger’s impact and a shift in the Commission’s enforcement priorities under current leadership.
