May 2 (Reuters) -

Top U.S. oil and gas producer Exxon Mobil has

won the approval of the Federal Trade Commission

(FTC) to close its deal for Pioneer Natural Resources on the condition that former Pioneer CEO Scott Sheffield is kept off its board.

The U.S. oil and gas industry went on a $250 billion buying spree in 2023 and the consolidation wave has continued into 2024.

The mergers and acquisitions have drawn increased antitrust scrutiny, with the FTC reviewing multi-billion dollar deals, including those involving Chevron, Diamondback Energy, Occidental Petroleum and Chesapeake Energy.

Here are the major deals in the global oil and gas sector since the 2000s:


Chevron buys Texaco in a $39.5 billion deal and emerges as one of the largest energy firms in the world.


Shareholders of Conoco and Phillips Petroleum, and the Federal Trade Commission approve an $18 billion merger between the companies and created the third-largest U.S. oil firm ConocoPhillips.


Chevron agrees to buy California rival Unocal for about $16.4 billion after fighting off Italian oil group Eni, China's CNOOC and other rumored suitors.


ConocoPhillips acquires Burlington Resources in a $35.6 billion deal and gains access to lucrative positions in North American gas-rich basins.


Norway's Statoil buys the oil and gas assets of Norsk Hydro for $30 billion to create a new energy firm, Equinor.


Exxon Mobil acquires XTO Energy for about $30 billion in stock to bolster its position as a leading U.S. natural gas producer.


Russia's state oil company Rosneft buys TNK-BP from UK-based BP in a $55 billion deal.

Kinder Morgan finalizes a $21 billion deal to buy El Paso Corp, combining the two largest natural gas pipeline operators.


Kinder Morgan buys all of its publicly traded units (Kinder Morgan Energy Partners LP, Kinder Morgan Inc with Kinder Morgan Management and El Paso Pipeline Partners) in a $70 billion deal.


Shell (then Royal Dutch Shell) acquires British rival BG Group in a $70 billion deal.


Marathon Petroleum takes over rival Andeavor for $23 billion.


Occidental Petroleum acquires Anadarko Petroleum in a $38 billion deal.


ConocoPhillips buys Concho Resources for $9.7 billion in 2020's top shale deal.

Saudi Aramco completes its purchase of a 70% stake in petrochemicals company Saudi Basic Industries for $69.1 billion.

PipeChina takes over oil and gas pipelines, and storage facilities from PetroChina and Sinopec in a deal valued at $55.9 billion.


Norway's Aker BP buys Sweden's Lundin Energy in a $13.9 billion cash and stock deal to form Norway's second largest listed oil firm.

BHP Group agrees to sell its petroleum business to Woodside in a merger to create an oil and gas producer worth $28 billion with growth assets in Australia and the Americas.


Magellan Midstream Partners' unitholders vote in favor of its sale to larger rival ONEOK for $18.8 billion, creating one of the largest U.S. energy pipeline companies.

ExxonMobil agrees to buy Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest U.S. oilfield and secure a decade of low-cost production.

Chevron agrees to buy smaller rival Hess Corp in a $53 billion all-stock deal, putting the company head-to-head against rival ExxonMobil in two of the world's fastest growing oil basins - shale and Guyana.

Occidental Petroleum agrees to buy privately held CrownRock in a cash-and-stock deal valued at $12 billion, its biggest since the debt-laden acquisition of Anadarko Petroleum in 2019.


Diamondback Energy signs an agreement to acquire privately held rival Endeavor Energy Partners in a $26 billion cash-and-stock deal to boost its presence in the prolific Permian basin.

(Reporting by Seher Dareen, Sourasis Bose and Roshia Sabu in Bengaluru; Editing by Shinjini Ganguli, Jamie Freed and Arun Koyyur)