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FTC approves major oil mergers with conditions, limiting board roles for acquired CEOs.
The FTC has approved consent orders for Chevron's $53 billion acquisition of Hess and Exxon Mobil's $60 billion purchase of Pioneer Natural Resources, with conditions.
Chevron cannot appoint Hess CEO John Hess to its board, except for specific roles like advising on Guyanese oil activities and the Salk Institute initiative.
Similarly, Exxon is barred from having Pioneer's founder Scott Sheffield on its board or in advisory roles, addressing antitrust concerns.
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La FTC aprueba las grandes fusiones petroleras con condiciones, limitando las funciones directivas de los directores generales adquiridos.