Commission action regarding application for approval:
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 two proposed Base Oil Supply Agreements required by Paragraph XIV.B. of the Commission's proposed decision and order in Docket No. C-3907. The agreements, reached with Castrol North America, Inc. and Pennzoil-Quaker State, would require Exxon Mobil to supply the two companies with a cumulative total of 12,000 barrels of base oil per day. In addition, Exxon Mobil will offer to amend its existing agreement with the Valero Corporation for the purchase of base oil produced at the Paulsboro plant that Valero recently acquired from Mobil.
The Commission vote to approve the 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.)
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.
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