Hess CEO Open to FTC Appeal Over Chevron Board Ban Next Year [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
Chevron's ( CVX Financials ) board after the incoming administration takes office, Reuters said Wednesday. As part of Chevron's $53 billion Hess purchase consent decree, the FTC ordered the restriction in September. Hess's talks with the Organization of the Petroleum Exporting Countries during production reduction negotiations prompted the FTC's suspension. With a new administration in there, that's something we'll consider. Right now, we're focused on the integration, Hess said during the Wolfe Research Oil and Gas Conference. The merger was also delayed by a contract arbitration dispute between Hess's Guyana oil joint venture partners Exxon Mobil ( XOM Financials ) and CNOOC ( CEO Financials ). We've had a good discussion with Chevron on that, Hess Chief Financial Officer John Rielly said of a dividend hike during the wait. The merger deal requires Chevron's approval for substantial capital expenditures or acquisitions. Up to 2030, Hess projected a 1 million daily increase i
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