The Federal Trade Commission (FTC) has officially approved Chevron's $53 billion acquisition of Hess Corporation, allowing the merger to proceed under the condition that Hess CEO, John Hess, will not be allowed to join the Chevron board. This decision comes amidst allegations of OPEC collusion involving other oil executives. While the approval marks a significant step forward for Chevron, the deal remains amidst ongoing arbitration processes, keeping some uncertainties in play. The FTC's compliance measures are seen as a move to enhance competition in the oil market and ensure that leadership arrangements do not contribute to market manipulation.