OGJ Newsletter

Click here to enlarge image*Looking at the latest oil industry merger action, one merger bid hits some major snags, another gets a nod of approval, and a third ties up loose ends.The US Federal Trade Commission asked a San Francisco US District Court judge to issue a preliminary injunction blocking BP Amoco's combine with ARCO. A hearing is scheduled for Mar. 10. FTC alleged the merger would "substantially lessen competition" in crude oil sold to West Coast refiners, in Alaskan North Slope oil production, and in pipeline and storage services at the Cushing, Okla., hub (see editorial, p. 19).California, Oregon, and Washington joined the FTC suit, while Alaska filed a motion to interv...

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