Source Pravda.Ru

Clearing $1.8 billion Oil Acquisition

The Federal Trade Commission made clear Royal Dutch/Shell Group US unit Shell Oil's $1.8 billion acquisition of Pennzoil-Quaker State Company.

Shell-Pennzoil will sell Pennzoil's interest in an Excel Paralubes joint venture with Conoco Inc, which produced Group II base oil at a refinery in Louisiana.

Pennzoil will be prohibited from buying more Group II base oil under an existing agreement with ExxonMobil Corp. Consequently there will be a greater demand for Group II base oil in the production of motor oil and other lubricants.

Also the direct competition between Shell and Pennzoil in the production of Group II base oils will rise, with the significant potential for reduced competition and higher prices for consumers.

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&to=http://www.shell.com' target=_blank>SHELL

&to=http://www.conoco.com' target=_blank>CONOCO

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