Chevron's $53 billion acquisition of Hess Corporation is reportedly set to receive approval from the U.S. Federal Trade Commission (FTC) soon, potentially resolving a significant hurdle for the merger. The deal, initially announced in October 2023, has faced delays due to arbitration claims from Exxon Mobil and CNOOC Ltd, who assert a right of first refusal regarding Hess's stakes in a lucrative oil joint venture in Guyana. Both Chevron and Hess anticipate a decision from the arbitration panel by August 2025, while Exxon expects a ruling by September. The acquisition would enhance Chevron's position in the Guyanese oil market, securing a 30% stake in the Stabroek block, which is rich in resources. Senate Majority Leader Chuck Schumer and other Democrats have expressed concerns that such consolidations could lead to increased fuel prices, urging the FTC to reconsider the merger. The outcome of this deal is emblematic of broader trends in the oil industry, characterized by significant mergers amidst regulatory scrutiny.