The Federal Trade Commission today announced the following action.

Applications for approval of transactions: The FTC has received an application for approval of a transaction from the following. The FTC is seeking public comments on the application for 30 days, until July 13, 1998.

• Shell Oil Company has petitioned the FTC for approval to divest the Shell Anacortes Refining Company in Anacortes, Washington, to Tesoro Petroleum Corporation. The proposed divestiture is required under the terms of a final consent order with Shell and Texaco, Inc. that requires the companies to divest a package of assets to settle FTC charges that their proposed joint venture would violate federal antitrust laws. (See news releases dated December 19, 1997; April 22, 1998; Docket No. C-3803. Staff contact is Daniel P. Ducore, 202-326-2526.)

Copies of the application are available from the FTC's Consumer Response Center, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-FTC-HELP (202-382-4357); TDD for the hearing impaired 1-866-653-4261. Consent agreements subject to public comment also are available by calling 202-326-3627. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710.

Media Contact:

Office of Public Affairs
202-326-2180