May 12 (Reuters) - U.S> Senate Majority Leader Chuck
Schumer on Sunday urged the Federal Trade Commission to "pump
the breaks" on Chevron Corp's ( CVX ) proposed $53 billion
acquisition of Hess Corp. ( HES )
"The FTC should side with consumers and pump the breaks on
this deal," Schumer said in a post on social media platform X,
adding that the deal would give oil majors more leverage to
raise gas prices.
In October last year, Chevron ( CVX ) agreed to buy Hess for $53
billion in stock to gain a bigger U.S. oil footprint and a stake
in rival Exxon Mobil's ( XOM ) massive Guyana discoveries.
Schumer has previously also called for greater scrutiny of
mega oil mergers as he along with 22 other Democratic senators
wrote to the FTC in November last year, saying multi-billion
dollar acquisitions by oil and gas giants Exxon and Chevron ( CVX )
could lead to higher prices for consumers.
Chevron ( CVX ) and Hess did not immediately respond to a Reuters
request for comment.