The United States Federal Trade Commission (FTC) sent out a request to Chevron Corporation and Hess Corporation to ask for additional information and documents concerning the $53 billion merger agreement, the companies disclosed in a filing on Friday.
"I called on the @FTC to investigate Chevron's major merger with Hess. And now they're taking action," Senate Majority Leader Charles Schumer said in a post on X, formerly known as Twitter. "This merger would mean higher prices at the pump for families even while Big Oil profits keep going up and up," he pointed out.
Namely, Schumer called on the FTC to also look into the $60 billion acquisition of Pioneer Natural Resources by Exxon Mobil, a deal which would make Exxon the largest operator in the Permian Basin, in Texas and New Mexico.
