FTC to block merger of BP Amoco-Arco, go to court

Article Abstract:

The proposed merger between BP Amoco and Atlantic Richfield Co has been blocked by the Federal Trade Commission (FTC) on antitrust grounds. The FTC said that it will seek a federal court injunction to prevent the merger. The FTC said that it will focus its case on several issues such as the competition in the exploration and production of Alaska North Slope Crude oil, the competition among pipeline and storage facilities in Cushing, AK, and the allegations that BP Amoco controls crude oil prices on the West Coast.

Atlantic Richfield Co.

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Phillips-Tosco deal to face close scrutiny

Article Abstract:

Antitrust experts are concerned about Phillips Petroleum's $7-billion buyout of petroleum refiner Tosco Corp due to their close relationship in the Pacific Northwest. A combined Phillips and Tosco would become the US' second-largest petroleum refiner after ExxonMobil and the third-largest retailer of gasoline. Tosco owns the 76 gasoline brand and bought Exxon and Mobil's gas stations on the East Coast. The FTC is expected to review the merger of the two companies.

Petroleum Refineries, Petroleum Refining, Tosco Corp., Phillips Petroleum Co. (Bartlesville, Oklahoma)

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Exxon-Mobil must sell thousands of stations

Article Abstract:

The proposed merger between Exxon Corp and Mobil Corp has been approved by the Federal Trade Comission pending the sale of 15% of their combined service stations and other assets. The $81-billion merger would create the world's largest private oil company called Exxon-Mobil. Among the assets to be sold by the merged companies are 1,740 Northeast and Mid-Atlantic service stations, 360 stations in California, 319 stations in Texas, the Exxon refinery in Benicia, CA, Mobil's stake in the Trans Alaska pipeine and Exxon's jet turbine oil business.

Exxon Mobil Corp.

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