17 June 2013 22:42 [Source: ICIS news]
HOUSTON (ICIS)--US oil refiner Tesoro and one of its subsidiaries, Tesoro Logistics Operations, have agreed to sell their light petroleum products terminal in Boise, Idaho, as part of a deal with the Federal Trade Commission (FTC) to avoid anti-competition charges, the FTC announced on Monday.
Tesoro earlier this year agreed to acquire pipeline and terminal assets from ?xml:namespace>
“The proposed order announced today is another example of the [FTC’s] work to protect competition in US petroleum markets, which are critical to consumers,” said Richard Feinstein, director of the FTC’s Bureau of Competition. “The sale of Tesoro’s terminal will preserve the competitive conditions that exist today for terminal customers in
The FTC noted that Tesoro owns several petroleum products terminals, including its terminal in
Under the FTC’s proposed order, Tesoro is required to sell its
The FTC agreement will be subject to public comment for 30 days, beginning Monday and lasting through 20 July, after which the FTC will decide whether to make it final.
($1 = €0.75)
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