Markets Wired

The Federal Trade Commission is seeking public comment on an application by Tesoro Corporation and Tesoro Logistics Operations LLC (Tesoro) requesting FTC approval to sell its petroleum-related terminaling business and related assets in Boise, Idaho, to Sinclair Transportation Co. The divestiture is required under a final FTC consent order approved in August 2013, allowing Tesoro’s acquisition of Chevron Corporation’s Northwest Products Pipeline assets.

According to the FTC’s June 2013 complaint, the transaction as originally proposed would have significantly reduced competition and likely led to higher prices by giving Tesoro ownership of two of the three full service light petroleum terminals in Boise. Tesoro’s application states that approval of the divestiture to Sinclair will restore the competition lost through its acquisition of the Chevron assets, and that Sinclair is currently prepared to operate the Boise Terminal assets.

The Commission will decide whether to approve the proposed divestiture after expiration of the public comment period. Public comments may be submitted until February 6, 2014.  Written comments should be sent to:  FTC Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, DC 20580. Comments can be submitted electronically. Copies of the application also can be found on the FTC’s website and as a link to this press release. (FTC File No. 131-0052, Docket No. C-4405; the staff contact is Roberta Baruch, Bureau of Competition, 202-326-2861)

The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.