BP offers to sell Arco's Alaskan assets

Article Abstract:

BP Amoco made new concessions to Federal Trade Commission (FTC) regulators with an offer to divest all of Atlantic Richfield Co's (Arco) holdings in Alaska. The move could eliminate a court battle between the oil companies and antitrust regulators. Meanwhile, the FTC voted on Feb 2, 2000, to go to court in order to stop BP Amoco's $30-billion acquisition of Arco. A federal court in San Francisco, CA, is set to hear FTC's petition for a preliminary injunction beginning Mar 20, 2000.

Asset sales & divestitures, Oil Products, Petroleum products, Atlantic Richfield Co.

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FTC gasoline probe to focus on price fixing, not gouging

Article Abstract:

The US Federal Trade Commission (FTC) is investigating possible price gouging, or overcharging, in the gasoline industry. The probe stems from the price hike in gasoline prices in the Midwest. The agency intends to subpoena up to nine oil companies which makes a quick resolution highly unlikely since it would be unusual for the FTC to get all the required documents from the companies in a short time.

Unit costs & prices, Gasoline

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Some states, Europe may object

Article Abstract:

Exxon's merger with Mobil will be the subject of intense scrutiny because of concerns with the merger's effect on competition. Several US states and European antitrust officials are expected to play a major role in the antitrust debate on the merger of the two oil companies. However, the merger will probably receive the least amount of friction from the Federal Trade Commission as its chairman, Robert Pitofsky, does not believe that big is necessarily bad. Also, US officials are expected not to be concerned on the issue as the industry still has 24 major players.

Petroleum and Coal Products Manufacturing, Petroleum, Exxon Mobil Corp.

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