Commission action regarding applications for approval:Applications for approval of transactions:
- Following a public comment period, the Commission has ruled on an application for approval of a transaction from the following: Exxon Mobil Corporation. The application concerns Exxon Mobil's proposed divestiture of assets, as detailed in Paragraph II.A-F of the proposed order in this matter. In the application, the company requested approval to divest its Exxon California Refining and Marketing Assets to Valero Refining Company-California, a wholly owned subsidiary of Valero Energy Corporation.
The Commission vote to approve the divestiture application was 4-0, with Commissioner Thomas Leary recused. (FTC File No. 991-0077; Docket No. C-3907; staff contact is Daniel P. Ducore, 202-326-2526; see press release dated November 30, 1999.)
- The FTC has received an application for the approval of a transaction from the following: BP Amoco p.l.c. Pursuant to Paragraph III.A. of the Commission's consent order with BP Amoco executed on April 13, 2000 regarding its merger with Atlantic Richfield Company (ARCO), BP has requested FTC approval of the proposed divestiture of the Seaway Crude Oil Pipeline and the Mid-Continent Crude Oil Logistics Services Businesses to a subsidiary of TEPPCO Partners, L.P. These assets are located in Cushing, Oklahoma and throughout Texas and New Mexico.
The Commission is seeking public comment on this application for 30 days, until June 15, 2000. Comments should be sent to the Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, D.C. 20580. (FTC File No. 991-0192; Docket No. C-3938; staff contact is Daniel P. Ducore, 202-326-2526; see press releases dated February 2, 2000 and April 13, 2000..)
Copies of the documents mentioned in this release are available from the FTC's web site at http://www.ftc.gov and also from the FTC's Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580; toll free: 877-FTC-HELP (877-382-4357); TDD for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710.