FTC Issues Second Information Request on Exxon's $60 Billion Takeover of Pioneer
12/5/2023
(Reuters) — The U.S. Federal Trade Commission has sent shale oil producer Pioneer Natural Resources and Exxon Mobil a second request for more information on their $60 billion takeover deal, Pioneer said on Tuesday.
The companies are working with the FTC and continue to expect that the deal will be completed in the first half of 2024, Pioneer said in a regulatory filing.
U.S. Senate Majority Leader Charles Schumer and 22 other Democratic senators wrote to the FTC in November saying multi-billion-dollar acquisitions by oil and gas giants Exxon and Chevron could lead to higher prices for consumers.
Exxon had announced the deal to buy Pioneer in October.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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