Chevron officially delays timeline to close Hess deal amid FTC scrutiny, Exxon arbitration

Chevron Corp. (NYSE: CVX) has officially said its proposed $53 billion merger with Hess Corp. (NYSE: HES) will be delayed. While several major upstream mergers are being pushed back with antitrust investigations by the Federal Trade Commission, Chevron CEO Mike Wirth said that is only one factor in the delay.