Former Pioneer Natural Resources CEO Scott Sheffield told Hart Energy, “For now, I remain one of Exxon’s largest individual shareholders and as such will consider other options.”

Chevron can proceed with its $53 billion Hess acquisition after winning an ICC ruling and receiving FTC approval for board integration.

The Federal Trade Commission under Republican Chair Andrew Ferguson has shown a more balanced regulatory approach and this case “represents an opportunity for the FTC to resolve an outdated order that no longer serves its original purpose,

Sheffield filed a petition in March requesting the FTC reconsider the final consent order, which also prohibits Exxon from nominating, designating or appointing any other Pioneer employees or directors, other than certain named individuals, to its board for five years.