Scott Sheffield, the former CEO of Pioneer Natural Resources Co., has enlisted the services of a prominent Washington, DC lobbying firm following allegations from the US Federal Trade Commission (FTC) regarding his alleged attempts to collude with OPEC.
According to a disclosure report recently filed, Sheffield has retained Brownstein Hyatt Farber Schreck LLP to advocate on his behalf concerning “issues related to the FTC.”
The FTC’s scrutiny arose during its assessment of Exxon Mobil Corp.’s acquisition of Pioneer for $60 billion. The antitrust agency claimed to have discovered evidence suggesting Sheffield attempted to engage with OPEC and American counterparts regarding oil pricing and production levels. Consequently, the FTC referred the matter for potential criminal investigation.
Although the FTC ultimately approved the transaction, it imposed restrictions preventing Sheffield, who founded Pioneer, from assuming a position on Exxon’s board. Sheffield has vehemently refuted the accusations leveled against him.
Related topics:
OPEC Disputes IEA’s Forecast, Predicts Oil Demand Growth to 2045
