Mergers in the petroleum industry: report of the Federal Trade Commission

Technical Report · Wed Sep 01 00:00:00 EDT 1982

DOI:https://doi.org/10.2172/6350390· OSTI ID:6350390

This report was prepared by the Federal Trade Commission in response to a congressional request that the Commission conduct an investigation of mergers and acquisitions in the petroleum industry. The report is based on data obtained from prior FTC investigations and litigations involving the oil industry, Department of Energy data, responses to questionnaires sent out to 21 oil companies, interviews with industry members, published sources of petroleum industry data and statistical studies relating to acquisitions and competitive activities in the oil industry. The study provides a brief overview of the petroleum industry and discusses the numbers and size and the description of the terms of such mergers in each of the last ten years; factors whihc influence such mergers, including the role of oil price decontrol; te impact on competition and on the availability and prices of petroleum products to consumers; the effect of acquisitions in diverting investment captial for the exploration and development of energy sources; the extent of concentration in each major sector of the industry, the impact of such concentration on competition, and the impactof mergers on concentration levels; the transaction costs of such mergers; and the extent of any asserted efficiency justification for such mergers. Three appendices contian an outline specifying the data used in preparing the report, background correspondence and separate statements concerning the report from three Commissioners.

• Research Organization: Federal Trade Commission, Washington, DC (USA)
• OSTI ID: 6350390
• Report Number(s): PB-83-115220; ON: DE83901499
• Country of Publication: United States
• Language: English

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DEREGULATION
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PETROLEUM INDUSTRY
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LAWSUITS
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ENERGY SOURCES
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