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Phillips Petroleum Co. and Conoco Inc.

A final consent order allows the merger of Phillips Petroleum and Conoco Inc. but requires certain divestitures and other relief to maintain competition in the gasoline refining market in specific areas of the United States. Among the assets to be divested are refineries, propane terminals, and natural gas gathering facilities. The FTC approved an application to reopen and modify its final order to change the license agreement that ConocoPhillips has with Holly Corporation, an independent oil refining company. The changes approved by the Commission allow ConocoPhillips and Holly to make the licensing of the "Phillips" and "Phillips 66" brands non-exclusive in two states for the last two years of the FTC-required agreement between them.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
021 0040
Docket Number
C-4058

Irving Oil Limited and Irving Oil Terminals Inc., In the Matter of

The Commission required Irving Oil Terminals Inc. and Irving Oil Limited to relinquish the rights to terminal and pipeline assets in Maine that Irving acquired from ExxonMobil, to maintain competition in gasoline and distillates terminaling services in the South Portland and Bangor/Penobscot Bay areas. The proposed settlement resolves the FTC’s charges that the acquisition is anticompetitive and could result in higher gasoline and diesel prices for consumers.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
1010021

Red Sky Holdings LP, and Newpark Resources, Inc., In the Matter of

The Commission issued an administrative complaint to block CCS Corporation’s proposed $85 million acquisition of Newpark Environmental Services. According to the complaint, the proposed transaction was anticompetitive because it would consolidate two of the leading providers of waste disposal services for the offshore oil and natural gas exploration and production industry in the Gulf Coast Region, leading to higher prices and decreased service levels. In response to the complaint, CCS, a subsidiary of Red Sky, threatened to close down its operations in the Gulf Coast should the acquisition not receive the necessary regulatory approvals. The Commission filed for a preliminary injunction, and temporary restraining order in federal court. As a result, the parties abandoned the transaction, and the Commission dismissed its administrative complaint.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
0810170
Docket Number
9333
Nov06

FTC Market Manipulation Rulemaking

The Federal Trade Commission (FTC) staff will host a workshop on Thursday, November 6, 2008, to discuss the FTC’s proposed petroleum industry market manipulation rule and the comments received in...