Acquirer(s)
- Phillips Petroleum Company Australia Pty Ltd
Target(s)
- Conoco Inc
Summary
The Commission was informed on 8 February 2002, of the pending merger of Conoco Qld and the Phillips Australia Group.Market definition
Exploration and Development of Oil and Natural Gas and the marketing of lubricants. In Australia, The Phillips Group is involved in both the Tasmanian and Queensland Gas pipelines, as well as the proposed development of a 500km pipeline from the Timor Sea to Darwin. Conoco Qld is involved in the marketing of lubricant products.Competition analysis
On February 26 2002, the Commission decided it would not oppose the proposal, scheduled to take place in the latter part of June 2002.Both parties are subsidiaries of their US parents, Conoco and Phillips Petroleum; and the proposed merger stems from the plan for these two companies to join their worldwide operations.
In Australia, the Phillips Group is involved in both the Tasmanian and Queensland Gas pipelines, as well as the proposed development of a 500km pipeline from the Timor Sea to Darwin. Conoco Qld is involved in the marketing of lubricant products.
The Commission concluded that there appears to be no competitive overlap between Conoco Qld and the Phillips Australias Group and therefore a substantial lessening of competition is unlikely to occur.
Merger type
Shareholding
Guidelines thresholds
Below
Imports above 10%
Unknown
Initiation
Parties
ANZSIC code
4521