FTC Tosses Orders Against Exxon, Chevron Board Appointments

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.