The Federal Trade Commission (FTC) has approved Chevron's $53 billion acquisition of Hess Corporation but has barred CEO John Hess from joining Chevron's board due to alleged improper communications with OPEC. The FTC claims Hess encouraged OPEC's stabilization efforts, which typically result in higher oil prices, thus raising concerns about industry coordination. The decision, passed in a narrow 3-2 vote, has drawn criticism from dissenting commissioners who argue it is politically motivated and lacks evidence of competition violations. Hess has defended himself, stating the FTC's concerns are unfounded, while Chevron plans to retain him in an advisory role. This incident follows similar FTC actions against other oil executives for their dealings with OPEC, highlighting ongoing scrutiny within the industry amid rising oil prices. The implications of this ruling may further complicate relations between U.S. oil companies and regulatory bodies.