The FTC lifts the ban on Sheffield and Hess entering the board of Exxon Mobil (XOM.US) and Chevron (CVX.US)

Wisdom Financial APP learned that the Federal Trade Commission (FTC) has rescinded the order prohibiting senior executives in the shale oil industry, Scott Sheffield and John Hess, from joining the boards of Exxon Mobil Corporation (XOM.US) and Chevron Corporation (CVX.US). The agency had previously blocked Sheffield (founder of Pioneer Natural Resources) and Hess (CEO of Hess Corporation) from joining the aforementioned boards, claiming that the two had attempted to communicate with OPEC on oil pricing and production issues.