Arco Selling Alaskan Fields.Atlantic Richfield Co. agreed to sell its Alaskan oil fields This list of oil fields includes major fields of the past and present. The list is incomplete; there are more than 40,000 oil and gas fields of all sizes in the world[1]. to Phillips Petroleum Co., prompting federal antitrust Antitrust The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade. regulators to postpone a lawsuit blocking the $27 billion merger of Arco and BP Amoco. Sale of the fields by Los Angeles-based Arco could generate up to $7 billion. The FTC FTC See Federal Trade Commission (FTC). had argued that the combined ownership by BP Amoco and Arco of about 70 percent of Alaskan North Slope North Slope, Alaska: see Alaska North Slope. production would hurt competition and boost oil and gasoline prices on the West Coast. Alaska supplies about 40 percent of the crude oil used by refineries on the West Coast, where gasoline prices are the highest in the country. |
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