SUBSCRIBE
PROFILE

FTC gives green light to ExxonMobil’s acquisition of Pioneer

The FTC approved ExxonMobil's acquisition of Pioneer Natural Resources, but stipulated that Scott Sheffield, ex-CEO of Pioneer, would not join ExxonMobil's board of directors. This condition underlines the regulatory complications in a fast-changing energy market.

Share:

FTC Conditionne Rachat Exxon-Pioneer

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

The transaction between ExxonMobil and Pioneer Natural Resources, valued at $64.5 billion, is set to be finalized this Friday, following regulatory approval on Thursday. This agreement, prepared and negotiated since early October, marks a strategic turning point for ExxonMobil, enabling it to strengthen its presence in the shale oil industry.

Regulatory requirements

The Federal Trade Commission imposed a specific condition for its approval: Scott Sheffield, a key industry figure and former CEO of Pioneer, must not be appointed to ExxonMobil’s board of directors. This decision is based on Sheffield’s past interactions with OPEC members and other allies, who allegedly discussed production cuts to manipulate market prices.

Reactions from the companies concerned

Following the ruling, ExxonMobil agreed to comply with the FTC’s demands, while Pioneer expressed disagreement and surprise, insisting that the FTC’s allegations were based on a misinterpretation of oil market dynamics. Pioneer pointed out that Scott Sheffield, who had headed the company for 27 years, had retired at the end of 2023, but would remain a non-executive member of the board.

Impact on the shale oil sector

The acquisition by ExxonMobil positions the company to become an even more dominant leader in the shale oil sector, particularly in the USA. This consolidation could lead to adjustments in production and prices, directly affecting global energy markets.

Antitrust considerations and future prospects

This transaction highlights the heightened vigilance of regulators over major mergers and acquisitions, underlining the importance of antitrust policies in a strategic sector. Future decisions could set new standards for corporate governance and competition in the global energy industry.

The FTC’s conditional approval of ExxonMobil’s acquisition of Pioneer reveals the tensions between commercial ambitions and regulatory constraints. As the agreement moves closer to fruition, the oil and gas industry remains under intense regulatory and public scrutiny, with significant implications for the world’s energy future.

  • Popular on energynews.pro
Nordex Sets Annual Order Record at 10.2 GW in 2025 with Strong Fourth Quarter
B.Grimm Power Acquires 25% Stake in 406 MW Hydropower Portfolio in the United States
Iraq Nationalizes West Qurna 2 as Chevron and Quantum Eye Lukoil Assets
Engie to Supply 0.8 Mt/year of LNG to Gulf Development Over 15 Years
Antero Resources Raises $750 Million Through Bond Offering to Fund Acquisition
Milestone Environmental Acquires Striker Facility and Expands Network to 15 Sites
Milestone Environmental expands its presence in the Permian Basin with the acquisition of a slurry injection facility in New Mexico. This transaction brings the company's portfolio to 15 sites across Texas and New Mexico.
Equinor Targets 2026 Final Decision for Wisting, Arctic Field Holding 500 Mbbl
Norwegian group Equinor plans to finalize the technical design this year for the Wisting project, whose costs had exceeded $10 billion. This 500-million-barrel field in the Barents Sea would be the world's northernmost.
BP Enters Contract Negotiations with 800 Workers at Whiting Refinery
The United Steelworkers union is negotiating a new collective agreement with BP for its Whiting refinery. The British group would propose cutting more than 200 union positions.
Venezuela Challenges Citgo’s $5.9 Billion Sale Before U.S. Appeals Court
Venezuela's representatives have asked an appeals court to vacate the sale order of PDV Holding to an Elliott Investment Management affiliate. This transaction aims to repay up to $19 billion to the country's creditors.
3D Seismic Technologies Revive Oil Exploration in Untapped African Basins
New seismic data acquisition and reprocessing of legacy surveys are transforming the frontier exploration approach in Africa. Several countries on the continent are now attracting investor attention through improved geological visibility.
Permex Petroleum: Brad Taillon Resigns, Richard Little Steps in as Interim CEO
Canadian oil producer Permex Petroleum announces the departure of its chief executive officer. The chairman of the board takes the helm of the company while organizing the transition.
Sonatrach and GNPC Sign R&D Partnership to Accelerate Oil Innovation in Africa
The Algerian and Ghanaian national companies formalize a research and development cooperation under the auspices of APPO. The agreement covers advanced seismic technologies, enhanced recovery and low-carbon solutions.
Egypt: Four Wells Reveal 4,500 Barrels of Oil Per Day in the Western Desert
Khalda Petroleum and two Egyptian companies have identified new onshore hydrocarbon deposits. Production tests show combined flow rates of 4,500 barrels of oil and 2.6 million cubic feet of natural gas per day.
Exxon Mobil Maintains Venezuela Ambitions Despite Donald Trump’s Reservations
The American oil giant says it is ready to send a team of experts to Venezuela to assess infrastructure, as Donald Trump expressed displeasure with the company's cautious stance on investment conditions.
Two Greek Tankers Hit by Drones Near CPC Oil Terminal in Black Sea
Two vessels managed by Greek shipowners were struck by drone attacks near the Caspian Pipeline Consortium terminal, an infrastructure that handles approximately 80% of Kazakhstan's oil exports to the Black Sea.
Vitol and Trafigura Negotiate Venezuelan Crude Sales with Indian and Chinese Refiners
Traders Vitol and Trafigura have begun discussions with refineries in India and China to deliver Venezuelan oil as early as March. This resumption of exports follows an agreement with Washington authorizing the marketing of stranded crude.
Indonesia Inaugurates Balikpapan Refinery Upgrade Worth $7.4 Billion
Indonesian President Prabowo Subianto inaugurated the Balikpapan refinery, which now reaches a capacity of 360,000 barrels per day. This upgrade aims to reduce the country's dependence on fuel imports.
Goldman Sachs Forecasts Oil Price Drop to $56 per Barrel in 2026
The American bank anticipates a surplus of 2 million barrels per day on the global oil market. The supply wave from pandemic-delayed projects and OPEC+ decisions would weigh on prices.
Trump Threatens to Exclude ExxonMobil from Venezuelan Oil Sector After Strategic Dispute
The US president criticizes the oil giant's reluctance to invest in Venezuela, deemed "uninvestable" by CEO Darren Woods due to two past expropriations.
Trump Seeks $100 Billion in Oil Investments in Venezuela Despite ExxonMobil Reluctance
The US president gathered major oil companies to encourage them to invest heavily in Venezuela. ExxonMobil's CEO however considers the country "uninvestable" under current conditions.
Rubis Reports 30,965 Shares and €1.9M in Liquidity Account at End of 2025
Energy group Rubis publishes the report of its liquidity contract managed by Exane BNP Paribas. As of December 31, 2025, the account shows a cash balance higher than the previous half-year.
Reliance Industries considers purchasing Venezuelan oil if Washington authorizes sales
Indian refining giant Reliance Industries says it is ready to resume Venezuelan crude purchases, suspended since March 2025, if U.S. authorities authorize sales to non-U.S. buyers.
Peru: Government Considers Bringing Private Investors into Petroperu
Lima seeks private partners to recapitalize Petroperu, including the Talara refinery and Norperuano pipeline. The state injected $5.3 billion into the company between 2022 and 2024.
Shell anticipates a loss in its chemicals and products division in the fourth quarter
The British energy group expects a loss-making result for its chemicals and products segment, weighed down by trading performance deemed significantly lower than the previous quarter.
Prairie Provident: One Well at 290 boe/d at Princess, Two Lost Drillings at Michichi
The Canadian producer reports mixed results with a performing well in its Princess area, while casing failures compromise two horizontal drillings at Michichi.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.