Chevron is expected to lay off more than 500 employees in Houston this fall as part of its integration with Hess Corporation, the company confirmed Thursday.

Chevron has a clear way for the major oil company to complete its $53 billion acquisition of Hess Corporation’s offshore assets in Guyana.

Chevron has scored a critical ruling in Paris that has given it the go-ahead for a $53 billion acquisition of Hess and access to one of the biggest oil finds of the decade.

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices soar and big oil companies reap massive profits.

The Federal Trade Commission is investigating Chevron’s acquisition of Hess oil company, the second inquiry the independent agency has opened this week of a major oil industry merger.