“FTC is now trying to let this oil exec off the hook,” she added. “The real story is the failure to go after OPEC year after year,” First said. “It’s just a failure of antitrust.” ...

As part of its review of Exxon’s $63 billion takeover of Pioneer Natural Resources Co, the antitrust agency said last year it found evidence Sheffield sought to communicate with OPEC and US ...

The FTC complaint describes a global conspiracy that reads like something out of a Hollywood script. A rich and powerful Texan embraced OPEC and tried to turn his fellow Texans, wittingly or not ...

The United States Federal Trade Commission (FTC) has finalized an agreement that bars Hess Corp.’s chief executive from holding a board position at Chevron Corp., to settle antitrust concerns ...

The U.S. Federal Trade Commision (FTC) said on Friday it had approved a consent order to resolve antitrust issues concerning Chevron's $53 billion takeover of Hess. According to the order, John ...

The FTC majority cited Hess' history of talking to OPEC officials about strategies to prop up oil prices, and that allowing him on the Chevron board "would heighten the risk of harm to competition." ...

The FTC alleged that Hess had communicated with OPEC over the years, encouraging higher oil prices. The FTC argued that Hess’s role on Chevron’s board would increase the likelihood of Chevron ...

The FTC cleared Chevron's $53 billion acquisition of Hess but barred CEO John Hess from joining Chevron's board after the merger, citing concerns about his previous communications with OPEC officials.

Hess, the FTC charged, urged OPEC officials to push publicly and privately for “inventory management,” or reduced pumping and fracking with the goal of driving up prices.

The FTC complaint alleged Hess frequently encouraged the cartel’s efforts to hold back crude supplies, citing public comments and private correspondence with OPEC Secretary-General Haitham Al ...