Chevron-Hess Merger Clears FTC Antitrust Review

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As part of the agreement, Hess CEO John B. Hess will not join Chevron's Board of Directors but will serve as an advisor. The merger remains subject to other conditions, including the resolution of ongoing arbitration regarding preemptive rights in the Stabroek Block joint operating agreement.

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About Chevron Corporation

Chevron Corporation is an integrated energy company operating globally in the exploration, production, and transportation of crude oil and natural gas. Its primary function is to harness energy resources, converting them into products essential for modern life. Chevron covers upstream operations such as oil exploration and drilling, and downstream processes including refining, distribution, and marketing of refined petroleum products. Additionally, Chevron invests in renewable energy projects, aiming to create a balanced energy portfolio. As one of the major players in the oil and gas industry, Chevron significantly impacts sectors including manufacturing, transportation, and energy production. Headquartered in San Ramon, California, this multinational corporation plays a pivotal role in meeting global energy demands and contributes to shaping future energy policies.