BP Amoco-ARCO combine not expected to inhibit U.S. oil price recovery, production

Click here to enlarge imageThis article is adapted from the author`s June 24, 1999, testimony in Washington, D.C., before the U.S. Senate Committee on Energy and Natural Resources.BP Amoco plc`s proposed acquisition of ARCO is almost unique among large, integrated company mergers.The two companies have virtually no overlap in the areas of refining and marketing-the two business sectors that traditionally are scrutinized for effects on competition.Refining is especially sensitive on the U.S. West Coast, where capacity is tight. The specialty nature of California Air Resources Board gasoline makes the market difficult and expensive to supply from other sources. However, BP Amoco has no re...

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