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Valero Energy Corporation and Ultramar Diamond Shamrock Corporation
The consent order permitted Valero to complete its $6 billion merger with Ultramar Diamond Shamrock Corporation, but required the divestiture of Ultramar's Golden Eagle Refinery, bulk gasoline contracts, and 70 Ultramar retail service stations in Northern California to a Commission-approved acquirer. According to the complaint, the merger as originally proposed, would have lessened competition in two refining markets in California resulting in consumers paying more than $150million annually if the price of CARB gasoline increased just one cent per gallon. CARB gasoline meets the specifications of the California Air Resources Board.
Factors that Affect Prices of Refined Petroleum Products
FTC Chairman Opens Public Conference Citing New Model To Identify and Track Gasoline Price Spikes, Upcoming Reports
Factors That Affect Gasoline Prices To Be Discussed at FTC Conference
Prepared Statement of the Federal Trade Commission On Gasoline Pricing
FTC Testimony Highlights Multi-prong Strategy To Ensure Competitive Gasoline Pricing
FTC Warns Internet Marketers about Making Misleading Claims about the Benefits of Gas-Saving and Other Energy-Related Devices
Announced Actions for March 15, 2002
Announced Actions for March 12, 2002
FTC Staff Sends Virginia House of Delegates Comments on Bill Regarding Below-Cost Sales of Motor Fuels
Announced Actions for February 8, 2002
Announced Actions for February 1, 2002
Exxon Corporation and Mobil Corporation
A consent order settled antitrust concerns stemming from Exxon's acquisition of Mobil Corporation, but requires the largest retail divestiture in Commission history. The divestitures, representing only a fraction of the worldwide assets of Exxon and Mobil, include 2,431 gas stations; an Exxon refinery in California; a pipeline; and other assets. According to the complaint, the proposed merger would injure competition in moderate concentrated markets -California gasoline refining, marketing and retail sales of gasoline in the Northeast, Mid-Atlantic and Texas; and in the highly concentrated markets for jet turbine oil.
Announced Actions for January 4, 2002
FTC to Hold Second Public Conference on the U.S. Oil and Gasoline Industry in May 2002
Resolving Anticompetitive Concerns, FTC Consent Order Would Allow Merger of Valero Energy and Ultramar
Announced Actions for December 18, 2001
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