News Formal

Senate Majority Leader Calls on FTC to Stop Chevron-Hess Merger

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 22 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 40%
  • Publisher: 68%

Senate News

FTC,Chevron,Hess

Chuck Schumer has called on the Federal Trade Commission to stop the merger between Chevron and Hess Corp., claiming that it would be detrimental to consumers.

Senate Majority Leader Chuck Schumer called on the Federal Trade Commission to stop the merger between Chevron and Hess Corp., claiming it would be detrimental to consumers. “I’m sounding the alarm against yet another proposed Big Oil merger—a $53B deal between Chevron and Hess,” Schumer wrote on X on Sunday. “It would give Big Oil more fuel to raise gas prices.

Earlier this year, Schumer led a group of 22 senators to call on the Federal Trade Commission to look into the tie-up between Exxon and Pioneer Natural Resources, and the Chevron-Hess deal. “Exxon’s and Chevron’s operations downstream would enable them to redirect Pioneer’s and Hess’s crude supply to themselves, away from and possibly to the detriment of their midstream competitors,” the group wrote in a letter to the FTC.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 34. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hess Q1 Earnings Trump Forecasts Ahead of Acquisition by ChevronHess Corporation reported better-than-expected earnings in the first quarter of 2024 as the planned acquisition by Chevron drags on.
Source: OilandEnergy - 🏆 34. / 68 Read more »