hess ff corp

CRONEY CAPLISM

PAL OF TRUMP, INAUG 2 SLUSH

MERGER W CHEVRON FTC FERGUSON?

PAUL SINGER?

msnbc

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:{Jan. 15, 2026,

As the 2026 midterm election year begins, MAGA Inc., a PAC aligned with President Donald Trump, boasts a war chest of almost $300 million built principally through deep-pocketed donors during the first year of Trump’s second term.

While public reporting on MAGA Inc.’s megadonors has focused on well-known tech and cryptocurrency figures, buried in the long list of the PAC’s 2025 contributors are two names that are lesser known in the usual Trump donor sphere — a New York-based oil heir and former executive who now sits on the board of directors of Chevron, the sole U.S. company currently operating in Venezuela, and his wife.

Federal campaign finance filings show that John Hess and his wife, Susan Hess, each contributed $1 million to MAGA Inc. on Dec. 12, 2025, just weeks before the U.S. took military action to capture Venezuelan President Nicolás Maduro.

On that same day, Trump raised eyebrows after a reporter asked if he intended to seize more oil assets from Venezuela after the U.S. seized an oil tanker off the Venezuelan coast earlier that week. “I mean, it wouldn’t be very smart for me to tell you that,” he started. But in continuing to talk about attacks on boats, he added, “[And] now we’re starting by land, and by land is a lot easier, and that’s going to start happening.”

By that point, the president for days had repeatedly said “we’re going to start doing those strikes on land too” as he spoke extensively about strikes on boats near the Venezuelan coast and in the Caribbean — a statement some interpreted to mean land strikes were imminent.

There is no indication that those comments factored into the sizable Hess donations on Dec. 12.

Although the couple have long been donors to various political causes and candidates, including occasionally to Democrats, their 2025 contributions to MAGA Inc. were rare seven-figure contributions from them. The Hesses’ $2 million contribution is dwarfed by other massive eight-figure dollar donations from tech giants and crypto companies to MAGA Inc. from the past year, but it’s nonetheless notable after their yearslong hiatus from contributions in support of Trump in the last few years.

John Hess’ last contribution to a Trump-affiliated fundraising vehicle was a $100,000 donation to the Trump campaign and the Republican National Committee’s joint fundraising committee in late 2017. Earlier that year, he gave $1 million to Trump’s first inaugural committee — his only other seven-figure donation at the federal level. And during the 2016 election, Susan Hess gave $170,000 in support of Hillary Clinton’s presidential campaign and the Democratic National Committee.

Prior to his recent seven-figure donation to MAGA Inc., John Hess’ federal political contributions have mostly gone to congressional campaigns and groups, including $500,000 to a Senate GOP-aligned super PAC in 2020.

Hess is perhaps best known as an heir to and a longtime executive of the former Hess Corp., which was acquired by Chevron last year in a transaction worth an estimated $53 billion. As a result of the merger, Hess was also appointed to Chevron’s board of directors.

Since 2007, when then-Venezuelan President Hugo Chávez seized assets from three major North American oil companies — Chevron, ConocoPhillips and Exxon Mobil — Chevron has been the only U.S. oil company involved in production within Venezuela through a joint venture with the country’s state-owned oil company. And MS NOW’s sister network CNBC has reported that Chevron exported approximately 140,000 barrels per day from Venezuela in the last quarter of last year.

Last week, in an interview with CNBC, Energy Secretary Chris Wright said he spoke with the CEOs of all three companies on Jan. 3, when the U.S. military struck Venezuela and removed Maduro from the country, to encourage their investment in Venezuela long-term.

But while he said Exxon and ConocoPhillips would need “normal, commercial business conditions, rule of law and some security to go back in” to Venezuela, he noted that Chevron is well-versed in this regime.

“Chevron has been there for over 100 years,” Wright told CNBC’s Brian Sullivan. “So with them, [the question for the administration is] how can we provide incremental tweaks or changes to allow their model to grow even more?”

In a response to questions from MS NOW about a possible connection between the Hesses’ MAGA Inc. contributions and Venezuela, White House spokesperson Taylor Rogers said after the U.S. took control there, “President Trump brokered a historic energy deal with Venezuela that will benefit both the American and Venezuelan people.”

“President Trump has called on all oil companies to make unprecedented investments and take advantage of this generational opportunity to restore Venezuela’s oil infrastructure,” Rogers said in a statement. “That’s why 20 different oil companies came to the White House last week to discuss this with President Trump.”

A spokesperson for MAGA Inc. declined to comment. Neither John Hess nor representatives for Chevron responded to MS NOW’s requests for comment.

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AN GRIST 1 26

On Saturday, hours after U.S. forces in Caracas killed at least 80 people and kidnapped Venezuelan President Nicolás Maduro, Donald Trump sounded less like a wartime commander than a developer surveying a newly acquired property. The country’s future, he told reporters at his Mar-a-Lago resort, belonged to “very large United States oil companies,” which would soon be pumping “a tremendous amount of wealth out of the ground.”

The land in question includes the largest proven oil reserves on Earth — at some 300 billion barrels, roughly 17 percent of global totals. But after years of political turmoil and U.S. sanctions, Venezuela accounts for barely 1 percent of global crude production. “It’s true that they know the oil is there,” said Samantha Gross, the director of the Energy Security and Climate Initiative at the Brookings Institution. “But the aboveground risks are huge.”

Chevron is the only major U.S. firm still operating in Venezuela, after other oil giants pulled out in 2007 when former president Hugo Chávez nationalized the industry. By continuing to operate as a minority partner under the state oil company’s terms, Chevron preserved its infrastructure, personnel, and legal foothold — giving it geopolitical leverage in the ongoing tug-of-war between the United States, China, and the Maduro government. “We play a long game,” CEO Mike Wirth explained in November at a U.S.-Saudi investment summit in Washington.

Today, Chevron is uniquely positioned in the aftermath of the invasion: Its leadership and board have long orbited Republican circles, with deep ties to the Trump administration and a history of big GOP donations. “Chevron’s in [Venezuela],” Trump said on Saturday, but “they’re only there because I wanted them to be there.” The company did not respond to requests for comment.

When Trump returned to office, his administration revoked Biden-era licenses that had allowed the oil major to operate in Venezuela despite the sanctions. Though told to stop producing by April, the company made no attempt to wrap up contracts, pull out personnel, or wind down supply chains. Francisco Monaldi, director of the Latin American energy program at Rice University, said in March that it appeared “Chevron is very confident it can obtain an extension.”

Behind the scenes, executives were busy meeting with Trump and top officials, spending almost $4 million on lobbying in the first half of the year to keep their Venezuelan foothold alive. In March, Wirth joined Trump in the Oval Office, hashing out how to tweak or extend Chevron’s license. The president finds Wirth’s TV appearances entertaining, regularly calling him after cable news appearances. The CEO followed that blitz up with private sit-downs with Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, and staffers from the National Security Council, making the case for his company’s continued presence in the country.

By July, the gamble had paid off. The administration issued a new license, letting Chevron resume operations in Venezuela. As it did so this fall, the company saw record-breaking production and earned $3.6 billion in its last reported quarter. Though Venezuela accounts for just 100,000 to 150,000 barrels daily — a sliver of Chevron’s production — that oil is heavy, the kind the company’s Gulf Coast refineries are designed to process. Having access to Venezuelan crude can help those facilities run more efficiently, increasing supplies and reducing costs.

Just before Chevron celebrated its renewed lifeline, it scored another victory: After years of wrangling with the Federal Trade Commission, it finally acquired Hess Corporation, one of the biggest independent oil producers in the United States. Last year, the agency had banned CEO John Hess from joining Chevron’s board as part of its anti-trust review, alleging that he had colluded with OPEC representatives to fix oil prices.

That victory, however, did not occur in a vacuum. The Hess family is a major donor to the Republican party and contributed more than $1 million to Trump’s first inauguration. (Chevron, for its part, donated $2 million to the president’s 2025 ceremony.) Hess — whom Trump has called “a friend of mine for a long time” — petitioned the FTC to revisit its decision. The agency later reversed course, unlocking the deal. On July 18, Chevron officially closed its $53 billion merger, and Hess took his seat on the board.

This bought Chevron’s entry into what many analysts call the decade’s most consequential oilfield, in Guyana, Venezuela’s neighbor. In 2015, Exxon Mobil announced a huge reserve off the tiny country’s shoreline. That discovery catapulted Guyana — a nation of fewer than 1 million people — into the petroleum spotlight. Hess’ 30 percent stake in the project was a key part of Chevron’s recent acquisition.

Thanks to Trump, one of the largest remaining political obstacles to the Guyana project was just removed. Maduro had challenged Guyana’s control over the offshore area. Venezuela has periodically claimed the territory since the 1960s under a long-running border dispute. As production in the region ramped up in 2019 and as Venezuela’s own industry faltered, Maduro escalated his attacks, sending naval ships into Guyanese waters and vowing Venezuela would take “all necessary actions” to stop its development — rhetoric remarkably similar to what Trump used to justify his own actions against Maduro this week.

But though Trump claims he spoke with oil companies before and after the invasion, taking over the Venezuelan government may have been more than the industry bargained for. “There aren’t oil companies just running to get rid of tens of billions of dollars right now to rebuild the Venezuelan industry,” David Mares, the former Institute of the Americas Endowed Chair for Inter-American Affairs at the University of California San Diego, told Grist. “It’s not even clear there’s a legitimate government in place to make the contracts they sign for legal.”

Then there’s the question of Venezuela’s tangled debt. Petróleos de Venezuela, S.A., the state oil company, has racked up more than $150 billion in liabilities over decades of defaults and expropriations. Creditors — from energy companies like ConocoPhillips to so-called “vulture funds” that bought defaulted contracts at deep discounts — have pursued arbitration against the country, and won court rulings for damages that remain unpaid. China has been the country’s largest foreign lender, loaning it more than $60 billion over the years. Only some of that has been repaid, mostly in the form of oil exports. As Mares notes, “As soon as Venezuelan oil starts to flow, some of those claimants can attach the proceeds, and they’re going to demand their money back.”

Experts warn that returning to even modest levels of production would require upgrading Venezuela’s aging infrastructure, a process that would require massive investment and political stability — conditions that have eluded Caracas for years and seem unlikely to materialize anytime soon. “There is no realistic prospect of immediately increasing Venezuela’s crude output,” Gus Vasquez, the head of oil pricing in the Americas for commodity markets analyst Argus Media, wrote in an emailed statement. “Venezuelan oil infrastructure would take years and possibly hundreds of billions to bring up to something close to its former capacity. Repairing refineries would be even harder.”

Chevron’s existing assets give the company a very different calculus than newcomers would face. But the timing could not be worse: Global crude oil prices have steadily declined over the last several years, recently dropping below $60 a barrel — approaching the break-even point for many American operators. That’s been driven by global supply surpluses and by weakening demand, as renewable energy prices drop. “I think what we’re seeing is that the days of the oil and gas industry being the growth engine of economies is well behind us,” said Trey Cowan, an oil and gas energy analyst at the Institute for Energy Economics and Financial Analysis.

Despite these structural shifts, Gross notes, “Trump has a very old-school way of thinking about resource economics,” as a blunt lever of power. As companies like Chevron have found, aligning with his priorities can bring financial and regulatory advantages, even if they are not supported by broader market conditions. This week, the company’s stock jumped 6 percent.

On TruthSocial on Tuesday, Trump announced that Caracas would be “turning over” between 30 and 50 million barrels of “sanctioned oil” that will then be sold. “[T]hat money will be controlled by me,” he wrote. Trump hopes to lower oil prices to $50 a barrel, which would squeeze shale producers and destabilize the U.S. oil industry. On Wednesday, the Department of Energy issued a brief announcement elaborating, as Chevron entered talks with the administration to increase its operations and resell oil to other refiners. The statement declares the U.S. will sell the sovereign nation’s crude on the global marketplace and describes the proceeds as going to “U.S.-controlled accounts at globally recognized banks,” an unusual setup that bypasses the U.S. Treasury. The money is vaguely promised to serve both Americans and Venezuelans, and the arrangement will be indefinite. “You’re going to see, probably, a growth in Chevron activities there quickly,” Secretary of Energy Chris Wright said on Thursday.

Senate Democrats have launched an investigation into the Trump administration’s communications with oil companies, which they claim occurred 10 days before the invasion, while Congress was not briefed. “The suggestion that taxpayers could pay the cost of rebuilding Venezuela’s oil infrastructure raise serious concerns about how the Trump administration engaged with the oil companies prior to his decision to use military force,” they wrote. Gross says to the extent Trump can be described as a populist, it is largely a performance — one “he might play on TV” — but she added that typically, “When you see populist governments take over oil industries, it doesn’t usually turn out well.”

In all the turmoil, what no one appears to be asking is what is good for Venezuela. “The saddest part of this is that unwinding the Maduro regime does not seem to be a part of what Trump policy is aiming for,” said Cynthia Arson, former director of the Woodrow Wilson International Center’s Latin American Program. In its statements after the strike, the White House has largely overlooked questions about a democratic transition, sidelining concerns about human rights abuses and the treatment of political prisoners.

Even when oil starts flowing, a new Venezuelan government will likely struggle to meet public expectations while attracting foreign investment. Before Chávez, the country’s oil contracts typically gave the government around 50 percent of revenue, helping fund social programs and the middle class. U.S. oil majors, by contrast, often offer royalties around 12 percent.

The contrast highlights just how fragile and uncertain the path ahead is: Years of economic collapse, which have driven millions abroad, have left those remaining struggling with profound political and social upheaval that can’t be solved by oil alone. “If good things happen, they’re going to take time,” Gross said. “Bad things could actually happen pretty quickly.”

This article originally appeared in Grist at https://grist.org/energy/how-chevron-played-the-long-game-in-venezuela/.

Grist is a nonprofit, independent media organization dedicated to telling stories of climate solutions and a just future. Learn more at Grist.org

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see zetero interv bedoyan 8 12? 25

msn 3 mos before aug

trump-wants-to-let-price-fixing-oil-execs-off-the-hook

the Trump administration is giving executives a pass for an alleged price-fixing scheme after they contributed millions to the Republican Party this past election, including the Trump campaign and his inauguration fund.

To reward the oil and gas industry for its political loyalty, Donald Trump’s chair of the Federal Trade Commission (FTC), Andrew Ferguson, took the first steps last month to lift regulatory restrictions imposed on a pair of the sector’s preeminent CEOs and Trump backers. The two were placed under consent orders by the Biden administration for colluding with foreign governments to raise oil prices.

In an op-ed this week, Ferguson made it clear that he intends to fulfill the executives’ petitions to the agency requesting this rollback, so they can rejoin the boards of their companies. “I’m asking my colleagues to undo the onerous and illegal consent decrees put in place by my FTC predecessor against oil and gas companies,” he wrote.

Chevron also submitted a petition to the agency after contributing $2 million to Trump’s inauguration fund.

Under Democratic FTC chair Lina Khan, the agency banned Scott Sheffield, CEO of Pioneer Oil, from joining the board of Exxon, which had recently acquired his company. A few months later, the FTC did the same to block Hess Oil CEO John Hess from taking a board position at Chevron after the two firms merged.

The agency took these actions after finding evidence during their merger reviews that Sheffield and Hess had separately colluded with the Organization of the Petroleum Exporting Countries (OPEC) to manage oil production. OPEC is a cartel of producers from the oil-rich Middle East region and Russia that have an outsize impact on the entire global energy market.

According to a trove of documents and communications obtained by the agency, both execs conspired with OPEC leaders to keep oil supply low and raise prices to capitalize on market volatility following Russia’s invasion of Ukraine in 2022. The FTC referred the case to the Department of Justice for a potential criminal complaint, and Democrats on the Senate Budget Committee opened a wider probe into potential collusion across energy markets. The congressional investigation is still ongoing.

Oil and gas heads were incensed that regulators would take action against two of their most esteemed titans of industry. At a campaign fundraiser last year, Trump personally promised irate oil executives that he’d treat them more favorably after several complained specifically about the FTC’s meddling in their merger and acquisition deals, according to theWashington Post.

Shortly after the FTC imposed the consent orders, campaign contributions from Sheffield and Hess, their family members, business associates, and companies started flowing to the Trump campaign.

Sheffield is a longtime rainmaker in Texas GOP politics, spending a total of $4.2 million in federal and state elections since 2020, including contributions from his family members and his company. His son, Bryan Sheffield — who sold his own oil company to his father in 2021 and went to work for him — gave $413,000 to the Republican National Committee for a fund designated to boost the Trump campaign just weeks after his father was put under consent order by the FTC. The younger Sheffield also maxed out individual contributions to the Trump campaign last year.

Sheffield remains on the board of the Williams Companies, a natural gas producer, which gave $25,000 to the RNC fund last year and $500,000 to other GOP spending vehicles.

Hess, a longtime Trump backer, gave a million to Trump’s first inaugural committee through his oil company and was later named to Trump’s Opening the Country Council in 2020 for post-pandemic economic recovery. Trump received $96 million from fossil fuel interests overall last election cycle, one of his top sources of fundraising.

This article was first published by the*Lever*, an award-winning independent investigative newsroom.

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cbi 10 23

In the span of two weeks, ExxonMobil made its largest oil acquisition in two decades, Chevron increased its oil production capacityby 10%, and Shell cut 200 clean energy jobs. It’s clearer than ever that Big Oil companies are doubling down on the fossil fuels driving the climate crisis, while they continue to mislead the public about the harm they are causing. Communities around the nation are seeing the industry’s ongoing deception for what it is and taking Big Oil companies to court to make them pay for their climate lies.

In a $60 billion deal, Exxon acquired Pioneer Natural Resources, an oil producer in the Permian Basin. The massive merger — which more than doubles the company’s Permian production to 1.3 million barrels of oil per day — comes after Exxon spent years claiming to support taking action to limit global warming per the Paris Agreement. The oil giant, however, just made a $60 billion bet that it will be able to continue business as usual despite the urgent calls for energy transition.

The greenwashing and deception isn’t surprising; Exxon and other major oil companies are being sued by communities across the country for knowingly lying to the public about their product’s role in advancing climate change and launching a climate science denial campaign to avoid public scrutiny.

Chevron is also doubling down on its oil production, acquiring competitor Hess for $53 billion — a consolidation that will increase Chevron’s existing daily oil production of three million barrels by 10%. Meanwhile, Shell — after one of its most profitable years on record — is reducing its low-carbon workforce by 200 positions just one month after Shell employees penned an open letter to CEO Wael Sawan expressing their concern with the company’s movement away from renewable energy investments.

There is overwhelming scientific consensus that the world needs to urgently pivot to renewable fuels in order to avoid worsening impacts of the climate crisis. In 2021, the International Energy Agency declared that all oil and gas infrastructure development must stop immediately in order for the world to meet its goal of net zero emissions by 2050. Earlier this year, the United Nations report on climate change concluded the planet will be pushed past the point of catastrophic warming in the next 10 years without an immediate transition away from fossil fuels.

Despite those warnings, oil giants continue to put profit over public safety and double down on fossil fuel investments — just like they have done for decades. It’s clearer than ever that Big Oil will only continue to act in its own self interest; it’s time to hold these companies accountable for their climate destruction.

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Troy

Lyons

Environmental Protection Agency

Associate Administrator for Congressional and Intergovernmental Relations

Hess Corporation; BP

oil and gas; fossil fuel

quid pro quo

Another recusal involves Byron Brown, an EPA appointee who is married to a senior government affairs manager for the Hess Corporation, the oil and gas company.

Hess was fined and ordered to spend more than $45 million on pollution controls by the EPA during the Obama administration because of alleged Clean Air Act violations at its refinery in Port Reading, N.J. Disclosure records show that Brown’s wife, Lesley Schaaff, lobbied the EPA last year on behalf of the company.

An EPA spokeswoman declined to say whether Brown or Schaaff owned Hess stock, though an agency ethics official said Brown had recused himself from evaluating regulations affecting the company.

The agency declined to say whether Brown would also recuse himself from issues affecting the American Petroleum Institute, where his wife’s company is a member. The association has lobbied to ease Obama-era natural gas rules, complaining in a recent letter to Brown’s team about an “unprecedented level of federal regulatory actions targeting our industry.”

Before being selected to lead the deregulation team at the Department of Housing and Urban Development, Maren Kasper was a director at Roofstock, an online marketplace for investors in single-family rental properties. Financial disclosure records show Kasper owned a stake in the company worth up to $50,000.

trump inaug slush

NEW YORK NY 10036 CEO of Hess Corporation, CEO of Hess Corporation, an OIL COMPANY that has been active in Russia for many years. Reports are that Hess Corp. is linked to Russian mob: https://goo.gl/b3443g Alexey Veiman at Hess Corp.’s Russian subsidiary who was identified by police and rivals as a leader of the local oil mafia, the Indeitsy, was fired less than 24 hours after the link was reported (June 2012). Local police estimate that the Indeitsy steals at least $40 million worth of oil in the region a year, siphoning crude from government-controlled pipelines. Hess Corp. agreed to sell Russian subsidiary Samara-Nafta to OAO Lukoil for $2.05 billion in 2013.

2106

Leslie & Abigail Wexner

Robert & Kathleen Hugin

Steven & Andrea Wynn

Meg Whitman

John & Susan Hess

Rupert Murdoch

Christopher & Amy Crane

Marc & Lynne Benioff

Scott & Kimberly Sheffield

David & Lelia Farr

John Hess was born in 1954 to a Jewish family,^[2][3] the son of Norma and Leon Hess. His father was the founder of theHess Oil and Chemical Company which later became the Amerada Hess Corporation and is now known as the Hess Corporation. His maternal grandfather was the former Attorney General David T. Wilentz who prosecuted Bruno Richard Hauptmann in the Lindbergh baby kidnapping case.^[4] He has two siblings: Marlene Hess and former Pennsylvania State Senator Constance H. Williams.^[4]

He earned his undergraduate degree from Harvard College in 1975 and his MBA from Harvard Business School in 1977. He married Susan Elizabeth Kessler in 1984.^[5]

Hess became Chairman and CEO of Hess Corporation in 1995. He stepped down as Chairman in May 2013, retaining his position as CEO.^[6]