The US antitrust regulator will allow Chevron Corp. to proceed with its $53 billion acquisition of Hess Corp. on the condition Chief Executive Officer John Hess is barred from the supermajor’s board, alleging he improperly communicated with OPEC.

The FTC cleared Chevron's $53 billion acquisition of Hess but barred CEO John Hess from joining Chevron's board after the merger, citing concerns about his previous communications with OPEC officials.

CVX's merger with Hess clears FTC review but John Hess steps into an advisory role after the FTC blocks his board appointment over OPEC-related concerns.