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Chevron is cutting about 650 Hess jobs after completing its $53 billion takeover last month, but exploration is one area likely to be spared.

The CPChem cuts primarily involve corporate roles including information technology, supply chain management and logistics rather than chemical plants, according to people familiar with the matter.

Oil prices slumped as OPEC+ ramped up production.

John Hess plans to buy back his family’s iconic toy truck business next year from Chevron after the oil giant bought his company this month.

The reductions were handed down on July 18 and take effect Sept. 26, according to a filing with the Texas Workforce Commission on July 23.

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.

Chevron plans to lay off 200 employees in the Permian Basin, less than the 800 previously reported by the Texas Workforce Commission, the company said May 29. 

Hess, the U.S. oil producer widely known for its signature green-and-white toy trucks, said the release of a collection of new miniature vehicles was delayed because of trade tariffs.

Chevron and Exxon report earnings after oil prices tumble, indicating that President Donald Trump’s trade war is hurting a key U.S. industry he pledged to help.

TG Natural Resources, owned by Tokyo Gas, and Castleton Commodities International, is acquiring a 70% stake in the East Texas gas assets of Chevron U.S.A. for $525 million.