Chevron Set to Get FTC Green Light for Hess Deal

The Federal Trade Commission is expected to grant Chevron approval for its $53-billion takeover of Hess Corp., Reuters has reported, citing unnamed sources in the know. Chevron announced the planned acquisition in October last year as part of what turned into a string of so-called megamergers in the oil space. Soon after, however, the deal ran into problems when Hess Corp.’s partner in Guyana, challenged the deal arguing it had the right of first refusal to Hess Corp.’s assets in the South American nation. In response, Chevron signaled…