FTC Tosses Orders Against Exxon, Chevron Board Appointments (3)

The US Federal Trade Commission set aside orders barring long-time shale bosses Scott Sheffield and John Hess from joining the boards of Exxon Mobil Corp. and Chevron Corp.

The agency had blocked both Sheffield, who founded Pioneer Natural Resources Co., and Hess, who is the chief executive of Hess Corp., saying they sought to communicate with OPEC about oil pricing and output.

Scott Sheffield

Photographer: Aaron M. Sprecher/Bloomberg

Both Sheffield and Hess had denied they colluded with OPEC. Exxon bought Pioneer last year for $63 billion. Chevron’s proposed $53 billion takeover of Hess is still pending. The deal cleared a key hurdle ...