FTC takes step toward reversing Chevron, Exxon board restrictions

FTC takes step toward reversing Chevron, Exxon board restrictions

WASHINGTON, April 11 (Reuters) – The U.S. Federal Trade Commission took a step toward potentially reversing bans on certain oil executives joining the boards of Chevron and ExxonMobil that the Biden administration made a condition that allowed them to acquire two other oil producers. Exxon, which acquired Pioneer Natural Resources last year, had agreed to […] The post FTC takes step toward reversing Chevron, Exxon board restrictions appeared fir…

FTC Moves to Reconsider Board Restrictions on Chevron, Exxon Amid Merger Deals

The U.S. Federal Trade Commission has taken a preliminary step toward potentially reversing boardroom restrictions imposed on Chevron and Exxon Mobil as part of their recent major acquisitions, signaling a shift from policies enacted under the Biden administration. The restrictions, which were key conditions for approving the oil giants’ multi-billion-dollar mergers… Source