FTC may recommend possible criminal case against ex-Pioneer CEO, Semafor reports
02/05/2024 16:14
May 2 (Reuters) - The U.S. Federal Trade Commission
plans to privately recommend a potential criminal case against
former Pioneer Natural Resources PXD.N CEO Scott Sheffield for
comments he made to Texas rivals suggesting they coordinate ways
to drill less oil, Semafor reported on Thursday, citing people
familiar with the matter.
Earlier in the day, the agency said Exxon Mobil's XOM.N
$60 billion purchase of Pioneer could go ahead on the condition
Sheffield will not be allowed to join Exxon's board.
The FTC declined to comment on the Semafor report.
(Reporting by Mrinalika Roy in Bengaluru; Editing by Sriraj
Kalluvila)
((mrinalika.roy@thomsonreuters.com;))