The Federal Trade Commission lifts ban on two executives joining the boards of Chevron and Exxon.

The Federal Trade Commission of the United States on Thursday lifted the ban on the CEO of the target company joining the boards of Chevron and Exxon Mobil, which the Biden administration had imposed as conditions for approving the acquisitions of two other oil producers by the two oil giants. Exxon Mobil acquired Pioneer Natural Resources last year, and the FTC rescinded the order prohibiting former CEO Scott Sheffield from joining its board. Chevron agreed to acquire Hess for $53 billion in 2023, and the company also had a similar order prohibiting its CEO John Hess from joining the board lifted.